<![CDATA[Credit Repair Enforcers - Blog]]>Mon, 22 Aug 2022 15:39:33 -0400Weebly<![CDATA[Tips to Help You Get Out of Debt Quickly]]>Mon, 18 Dec 2017 05:00:00 GMThttps://creditrepairenforcers.com/blog/tips-to-help-you-get-out-of-debt-quickly
Getting out of debt doesn’t happen overnight, but that doesn’t mean there aren’t steps you can take to get out of debt fast.
With the proper determination and dedication, you cannot only learn how to conquer your debt but create positive habits that keep you out of debt along the way. Getting out of debt can feel overwhelming, regardless of your finances or circumstance. But it doesn’t have to be that way.

There are just as many people taking responsibility and control of their debt as people are getting into debt. Not only that, but they are putting tried and true methods to use to get out of debt in a short period.
Are you struggling with a cycle of debt? Follow these simple steps to start eliminating your debt and take control of your finances today:
1. Stop Borrowing Money.
It may seem like a no-brainer, but a significant number of people fall into the habit of using debt to fund their lifestyle. If you want to get out of debt fast, the first step is avoiding any situations that put you in debt, which means no more applying for credit cards, financing furniture, and test-driving cars that you can’t afford to pay in cash. Removing the possibility of putting additional strain on your finances will help you focus on your financial responsibilities. Borrowing can also lead to a lower credit score, making it even more challenging to get out of debt as your interest rates and payments will be much higher.

2. Start an Emergency Fund
Most people are surprised that one of the first steps to getting out of debt doesn’t have anything to do with making a payment to their creditors. Getting out of debt starts with making bright financial situations. “Why do I need an emergency fund?” you might be wondering. Well, if an emergency occurs in your life, where will you get the money to pay for it? In many cases, credit card debt begins as funding for unexpected emergencies. If you are going to get out of debt, you need a safety net in case something goes wrong – emergency funds give you the buffer you need between you and your debt.

3. Create a Realistic Budget
Creating a budget around your income and expenses is key to getting out of debt quickly, and having a realistic picture of your finances and what you might be able to manage concerning a payment every month can help you conquer your financial goals. The goal of creating a budget is to discover if you have a surplus (money left over) or deficit (in the negative) based on your income and bills. Over time, you want to increase your surplus to pay down your debt. There are several ways to do this, such as finding a way to earn extra cash or eliminating unnecessary bills.

4. Get Organized
There are several approaches you can take when paying off your debt. The first is making a list of your debts from smallest to most significant and paying off your lowest obligations first, which is an excellent way to eliminate your debts and reduce the number of payments you make each month, simplifying your financial life.

The second method is known as laddering. This method is favorable because it saves you the most money over time. Start by making a list of your debts, beginning with the highest interest rate and ending with your lowest interest rate debt. Paying off your debts with the highest interest rates first makes sense financially because it saves you on costs yet to be incurred.

Regardless of the debt repayment method, or if you decided to create a systematic hybrid between the two, it’s essential to stick to your commitments. Before you know it, your debt will start reducing, and you will be one step closer to your financial goals.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Is It Smart to Use Balance Transfers to Pay off Credit Cards?]]>Wed, 01 Nov 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/is-it-smart-to-use-balance-transfers-to-pay-off-credit-cards
Accumulating a significant balance on a high-APR credit card can be frustrating.
A substantial portion of your monthly payment goes to interest, and you only see a slowly chip away at your debt. In this case, a balance transfer may be a good idea. Many lenders and credit companies offer products with interest rates as low as 0% on balance transfers (based on your credit score) to attract new customers and clients.

Balance transfer fees are standard, generally 3% of your total balance, although this can often be waived through special promotions. Many companies also limit the amount that you can transfer.

Applying for a Balance Transfer
If you can find a credit card with low-interest rates offered for some time in which you could pay your balance, little to no balance transfers fees, and a credit limit high enough to accommodate your balances, then a balance transfer may be beneficial. When you do a balance transfer, more of your monthly payment is contributed to the principle, rather than most of your bill payment going toward interest.

You often need good or excellent credit history to get attractive introductory offers. Although you may be eligible for a balance transfer if you apply and qualify for a new card, interest rates will generally be far above the 0 to 5 percent introductory rate many lenders advertise.

Balance transfers are not an excellent way to improve your credit score or avoid late payments. Balance transfers themselves can take up to two weeks before they are completed. During this period, payments will have to be maintained to the creditor that still holds your balance.

Living with a Balance Transfer
So you’ve qualified for a balance transfer and transferred your debt to your new low-interest account – now what do you do? Ensure that the accounts that held your previous balances have been paid in full by receiving a statement from your old creditor. Once your balances have been successfully moved, keeping these cards open is a good idea. Charging very little on your cards and paying off the balances in full every month is a great way to boost your credit score while you pay down your debt. If you still have a remaining balance on your card, continue making your payments complete and on time.

In the meantime, you’ll want to tackle your balance transfer debt before the introductory period expires. If you make insufficient payments or fail to make them on time, your intro rate could disappear.

Conclusion
Before applying for a balance transfer and a new credit card, reviewing the creditor’s terms of service is a good idea. Every credit company is required to disclose its complete rate plan to the consumer. This documentation should tell you the amount owed at each credit level for bank-to-bank balance transfers and how long the advertised rate will last. Keep in mind that missing payments can void your initial agreement and rate.

If you’re unsure if a balance transfer is a right move for you, don’t hesitate to call the issuing company you want for your balance transfer and ask questions. Before the call, it’s a good idea to get familiar with your credit score and be prepared to discuss any negative terms on your credit report. With the correct information, your credit card company’s representative should be able to give you detailed information about the offers available for your particular situation.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Family Vacation Ideas That Won’t Break the Bank]]>Tue, 03 Oct 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/family-vacation-ideas-that-wont-break-the-bank
A family vacation is one of the best ways to celebrate great weather and take a break from the long, hardworking winter months – but not if it puts a dent in the rest of your year’s budget.
Americans alone are estimated to spend over $100 billion on vacations this year – up 16% from 2016.

But don’t let these numbers deter you from sticking your toes in the sand. With just a little planning and these five budget-saving vacation ideas, relaxing and exciting family vacations that don’t drain your wallet are only within a summer’s day reach.

1. Splash Around at the Beach
Beautiful beaches don’t just exist in the Caribbean Islands. The best beaches lie on the beautiful coast and offer just as much sunshine and relaxation as your favorite 5-star resort. What’s the best part? Most beaches are free, while others charge a small parking fee. If you don’t live in a coastal region, skip the pricey plane tickets for a family drive. Just don’t forget to make time for your favorite stops along the way.

2. Plan a Road Trip Around Your State
Road trips are one of my favorite ways to spend quality time with my family. Not only do you save on expensive airfare, but you also have the freedom to plan your destinations and can always change your course along the way. Instead of spending money on a hotel room, plan to stay at popular campsites along your journey. Who knows? You may create a new family tradition and discover something new.

3. Check Out Parks and Nature Centers
Most people look forward to summer as a chance to spend time in the great outdoors, so why not use this to your advantage? Check out local tourism websites inside and outside your city to give you ideas of places you’ve never been before that will get your family active and moving. Most towns have a plethora of excellent views, biking/hiking trails, and wide-open spaces that are open for exploration to the public.

4. Visit Historical Sites
Are you looking for a fantastic family vacation that is also educational? Visiting our nation’s historical sites is not only an affordable way to pass the time but also a great way to create family memories while learning about our history. Most historical landmarks are free or very low cost. Find out what kind of history your state and the surrounding areas have to offer. Look for landmarks, ghost towns, ruins, battlefields, museums, and other activities rich with history.

5. When in Doubt, Head to the Backyard!
A great family vacation doesn’t mean you must spend a lot of money and travel far away from home. Some of the most classic summer memories can happen in your backyard. Enjoy all of the benefits of summer near your home by setting up your own camping experience right in the comfort of your home! Cook your dinner over the fire, tell scary stories, and sleep under the stars, a great way to get younger children accustomed to the camping experience. Just don’t forget the s’mores!

Finding a vacation destination that will accommodate the whole family is tough, but discovering a vacation spot that doesn’t destroy your wallet can be even more difficult. Avoid the crowds and save your wallet this year with a family-friendly money-conscious vacation that doesn’t compromise on summer fun.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[How to Avoid Overspending on a Wedding]]>Tue, 19 Sep 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/how-to-avoid-overspending-on-a-wedding
Wedding planning can be stressful, no matter how conscientious and organized you are. The number one culprit is sticking to your budget.
According to research by the Wedding Wire, 74 percent of couples go over their budget by 40 percent! How do you avoid spending more than you can afford while creating the wedding of your dreams? Don’t worry; we’re here to help.

1. Set a Realistic Budget
Before you dive right into exploring color schemes, researching vendors, and finding the perfect wedding dress, you’ll want to set a budget. While it’s not the most fun part of wedding planning, it’s an important place to start and will help avoid many headaches of having to change plans down the road. Sit down with those who will be contributing to your special day and come up with a realistic number.

2. Stay Flexible
Your vendors are used to working with people on budgets and will likely contribute creative ways to help you save where it counts. The best way to accomplish this is to stay flexible, which could mean letting your florist recreate the bouquet you’ve fallen in love with, featuring a pricey flower for a similar creation with more cost-saving blooms. The more open you are to suggestions, the easier it will be on your bank account.

3. Trim the Guest List
One of the fastest ways to cut dollars from your wedding cost is to scale down your guest list. Choosing 50 of your immediate family and closest friends (as opposed to a 200+ guest list) could help you pull off a premium-wedding experience with even modest budgets.

4. Consider a “Free” Venue
Outdoor weddings can be as beautiful as enchanting when the weather is right, so why not choose a venue that contributes to cost savings? Look for nearby parks, lakes, and fields open to the public, or talk to friends and family with outdoor space big enough for a wedding. Plus, outdoor weddings are a great way to be more flexible with your guest list!

5. Use Your Connections
Have a best friend who’s a gifted graphic designer or a family friend in a cover band? What about a cousin who adores crafts? If so, find out if they’d like to help with your wedding! Working with people you know is a great way to cut down on regular retail costs; some may even offer their talents a wedding gift. Just don’t forget to show your gratitude!

6. Get Married On a Weekday
If you’ve already started planning your wedding, you’ve likely discovered that Saturday is the most expensive day of the week – for nearly everything! Not only are you competing with many other brides-to-be, but other events as well. To save the most money, consider a weekday wedding “off-season.” Don’t worry too much about your guests being unable to make it. People have different schedules and are likely to take time off to show their support for your special day.

7. Focus on What’s Important
Lastly, focus on what’s most important to you and your spouse. While it’s easy to get caught up in the frills and thrills of planning the perfect wedding, your special day is about your love for each other. Think about what you two enjoy the most and reserve more money for those areas while cutting down on the rest.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Tips for Getting Approved for a Mortgage]]>Thu, 17 Aug 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/tips-for-getting-approved-for-a-mortgage
When you start your home buying journey, you’ll notice advertisements of beautiful homes accompanied by happy families that make it seem like an abundance of lenders are waiting to hand you the keys to your new home.
Getting approved for a mortgage is not always easy, and getting financed for such large amounts of money can be risky. If your home-buying fantasies have been interrupted by application denials, it’s time to take control of your borrowing power and find out what you can do to turn those “no’s” into a “yes.”

1. Document Your Income
Borrowers mistakenly downplay the importance of stable income history, especially if they have a high credit score or large bank balance. No matter how favorable your credit and financial status may seem, you will be subject to income scrutiny. Be prepared to prove your income by providing tax documents for the last two and three years and paycheck stubs from the past few months. A list of all your debts, including auto loans, credit cards, alimony, and student loans, and your assets, including investment accounts, auto titles, real estate, and bank statements, may be requested.

In addition to proving that you have adequate income to cover the loan, lenders will verify that you’ve worked in the same field for at least two years – the longer you’ve worked for the same employer, the better.

2. Shine Up Your Credit History
Maintaining a positive history while you apply for home loans is especially important. Lenders want to see that you have a good record of paying your bills on time. Before you apply for a mortgage:
  1. Review your credit report.
  2. Give your credit a boost by keeping your credit card utilization below 30%.
  3. If you have any past debts, pay them.

Lenders want to see a flawless credit history for the past 12+ months – the longer you go without a negative mark on your report, the better. Remember that lenders may re-check your credit score during the application process. So, ensure all your accounts are on-time and current, and avoid any other large purchases that could affect your score until you receive approval. For credit repair assistance, contact Credit Repair Enforcers.

3. Two is Better than One
If you don’t have high enough income to qualify for the type of loan you need, a cosigner with an adequate amount of disposable income to be considered on your mortgage may help your approval rating. Regardless of whether this person will be helping make your payments or living with you, they can still cosign. Sometimes, a cosigner with a positive credit history can help someone with less-than-perfect credit. The cosigner should remember they guarantee the debt.

4. Offer a Larger Down Payment
Your application for the rest of your home financing may be beneficial if you can pay for a percentage of the home on your own. The more significant personal investment you have in the house, the less likely you will walk away from the property and let it go into foreclosure. A significant amount of cash is also a strong indicator of how you handle your finances. Banks don’t just want to hand anyone a loan; they want to provide financing to people guaranteed to pay them back.

5. Consider a Smaller Loan
While your pre-approval may indicate that you qualify for a loan up to $250,000, you want to tread carefully in asking for the highest loan amount. In fact, the closer you get to your limit, the more difficult it is to get approved.

If you don’t qualify for the mortgage you want and aren’t willing to wait, try setting your sights on a less-expensive property. Consider a townhouse instead of a house, accept fewer bathrooms and bedrooms, or move to a neighborhood further away to give you more options. For a more drastic approach, consider a different area of the country where homes are more affordable until you can trade up or build your financial history.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Will a Title Loan Negatively Affect Your Credit Score?]]>Sat, 15 Jul 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/will-a-title-loan-negatively-affect-your-credit-score
When you’re in a position where you need cash fast, title and cash loans can seem like a light at the end of the tunnel.
After all, receiving all the money you need in hand is difficult to turn down, and you’re sure that you can pay back the balance by your next paycheck. Even with this certainty, you may wonder, what effect do title loans have on your credit score? Like most financial-related questions, the answer isn’t written in black in white.

What is a Title Loan?
Before we talk about the effect that title loans have on your credit, let’s explore what a title loan is and how it works. Title loans involve using the title of your car as collateral for a loan. So if you fail to pay your loan within the set agreement, you will lose your vehicle.

Financial experts often consider title loans a poor financing choice because of their high annual percentage rates. Still, if you know you will have the cash to pay back the loan before it is due, it can be a viable solution in an urgent situation. Make your payments full and early if possible to avoid losing your vehicle.

Understanding Secured and Unsecured Loans
Title loans are treated differently than traditional bank loans because they are secured. A secured loan means that you have provided your lender with collateral. In the case that you cannot manage your loan, this provides the creditor protection against their investment. These agreements are shared with paycheck loans, pawn shop loans, car title loans, and other loan types requiring collateral.

Conversely, unsecured loans do not require any collateral. These types of loans are more traditional and provided by larger banking institutions. Instead, unsecured loan approvals are based solely on creditworthiness and trust. All unsecured loans require a credit check.

How Does a Title Loan Affect My Credit?
Title loans don’t have a significant effect on your credit. Some title loan lenders don’t even require a credit check before they grant you approval. This financing is often a solution for individuals with low credit who need money fast.

While making payments on time will generally help improve your credit, this isn’t the case with title loans. Conversely, occasionally missing a title loan payment will not automatically lower your score either- as long as your loan specialist does not repossess your vehicle.

The only time a lender may report your car title loan to the credit bureaus is under the circumstance of vehicle repossession. Losing your car is not only damaging to your life but can affect your credit negatively for years.

What are my options if I can’t meet my title loan requirements?
If you are in a hardship where you cannot pay your title loan, it may be tempting to walk away – they don’t count against your credit score. Besides losing your car, failing to meet your loan agreements can negatively impact your credit and your finances.

The consequences of walking away from your title loan will ultimately depend on your agreement with your lender. In many cases, if you voluntarily offer up your car for repossession, the lender will not report the failed agreement on your credit score. However, many lenders don’t want your vehicle. Auctioning off your car may be less profitable than forcing you to make the payments. If this is how your lender prefers to operate, you may find difficulty in getting out of your title loan.

Before you sign any contracts, you must understand your loan’s terms entirely. Your agreement should detail whether or not your lender has the right to refuse your collateral in exchange for payment. While this type of arrangement won’t necessarily affect your credit, failing to understand the terms of your agreement and communicate with your lender could hurt your finances.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Client Appreciation Event: Financial Freedom and Legacy Building]]>Fri, 16 Jun 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/client-appreciation-event-financial-freedom-and-legacy-building
Credit Repair Enforcers, a credit counseling company based in Fort Lauderdale, Florida, specializing in credit repair, credit building, and education, has helped hundreds of families and business owners achieve their financial goals by working with them to improve their credit scores and get approved for mortgages, auto loans, business loans and more.
On June 16th, 2017, Credit Repair Enforcers hosted an event to show the company’s appreciation for their clients and referral partners who have become a part of their growing family.

Through building trust and friendships, we have grown and expanded our business and have been blessed with an abundance of referrals. Credit Repair Enforcers also boasts countless reviews.

Credit Repair Enforcers was able to give back to their family and members with this small gesture of educating the group about financial freedom and legacy building.

We look forward to being more part of our community and helping those in need. There is a lot of misinformation out there, and we will continue to build our awareness and coach with fundamentals to help teach more on how to protect their credit and financial futures.

The company will continue serving families and business owners in Florida and the rest of the country while giving back to their community. While they primarily work with individuals with low credit scores, many of their clients also have good, if not great, credit scores but still want to increase their scores higher to achieve a lower interest rate on their mortgages or loans.

For more information about credit repair, how it works, or how it can help you, don’t hesitate to contact Credit Repair Enforcers for more details.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Tips on How to Get Out of Debt Following a Divorce]]>Fri, 12 May 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/tips-on-how-to-get-out-of-debt-following-a-divorce
A 2013 study conducted by Kansas State University revealed that financial problems early in marriage are the most significant predictor of divorce.
So, it is no surprise that newly singles encounter financial difficulty when two people decide to split. Whether you were already in debt previously or trying to avoid the monsoon of financial struggles, here are some practical tips to keep in mind as you work to rebuild your life.

Tally it Up
No matter how much debt you are in or you and your spouse share, make sure you add to take the time to add it all up, including auto loans, mortgages, student loans, and credit cards. You should know whose name everything is in and every debt amount. Don’t leave any stone unturned. Even if there are debts your former spouse may be unaware of, take your debt and split it into two lists: 
  1. List the debt that you brought into the marriage. 
  2. List the debt you incurred during the marriage.

Work Out which Debts You Should Pay First
If you don’t have enough money to keep up the payments on your bills, loans, credit cards, or mortgage, it’s critical to prioritize what you can pay and what loans are most vital to your well-being. Your most essential debts are usually your mortgage/rent and electricity bill. To ensure that you have a roof over your head and lights on in your house, make sure you pay these bills before anything else. If you can’t make these payments, consider a temporary roommate to share the costs, re-entering the workforce, or picking up a second job until you get on your feet again.

Sort Out Secondary Debt
Once you have made arrangements for your priority debts, you should determine how much you can pay towards the money you owe on bank loans and credit cards. If you can’t make the minimum payments, contact your lender and tell them what you can afford. You may be able to restructure your loans based on your current financial situation. If you prefer to work out your credits with a debt professional, find out if you can freeze interest while you work out a repayment plan.

Joint Debts – What to do?
If you have joint debts with your former spouse, such as a mortgage, bank loan, or credit card, you are liable to pay the amount in full. If your ex doesn’t pay their share, you are still responsible for the payments. Contact your lenders, inform them of the separation, and request:
  • A restriction on the account, so debt doesn’t continue to grow.
  • A lower payment agreement if you cannot repay the amount in full.

Once you have put measures in place to prevent further damages, try to arrange with your ex-spouse. To protect your credit scores, divide the debt into what is fair, refinance wherever possible, payoff, and consolidate. You may require a mediation service to get agreements in writing.

Don’t Think You’re Off the Hook
When it comes to marital debt, you’re always responsible if it remains in your name – even if your previous partner has agreed to pay it after the divorce. If your ex stops making payments even years later, your creditors will hold you equally responsible for the debt owed. Working together after a divorce is challenging but essential to both parties’ financial well-being.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Does a Foreclosure Hurt Your Credit More Than a Bankruptcy?]]>Wed, 19 Apr 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/does-a-foreclosure-hurt-your-credit-more-than-a-bankruptcy
Foreclosure and bankruptcy are both daunting to consider.
However, if you struggle to keep up with your mortgage payments, this may be your final option after a prolonged financial struggle. While both will undoubtedly affect your credit score, minimizing the fallout and setting yourself up for the best chance of credit repair is critical. 

Depending on your financial situation, one might be better than the other. If you’re facing the decision of foreclosure or bankruptcy, here’s what you need to know.

Lender Negotiation
Bankruptcy and foreclosure each carry a different sense of urgency. Depending on your circumstance, one might be a better financial fit. Consider the status of your mortgage: Have you missed a single payment, or have you progressed past the 90-day mark? Before making a critical decision, you must talk with your lender first and see how they might be willing to help. Contact your bank and explain your circumstances. If your money troubles are only temporary, requesting a period of forbearance or other options to establish your financial stability may be possible. If your financial problems are more permanent, bankruptcy or foreclosure may be your last option.

The Impact of Foreclosure and Bankruptcy on your Credit Score
Both foreclosure and bankruptcy have long-term consequences and should be an absolute last resort. A foreclosure will reflect on your credit score for seven years, while bankruptcy will stay on your credit report for up to 10. Although it may seem like living with impacts such as these on your credit score for a decade is devastating, it is essential if you expect to rely on your credit score sometime in the future. If you are at a crossroads in your decision-making, you’ll want to consider the impact of each option on your long-term goals.

Foreclosure vs. Bankruptcy
First and foremost, you want to keep in mind that your credit score is unique to you. Because your credit score is a sum of your complete credit history, no two consumers will have the same financial impact profile to profile.

FICO recently released a report that displayed the impact of various negative items on a person’s credit profile. They used a sample profile with the same credit score (680) to show the effect of foreclosure versus bankruptcy. Under bankruptcy, the “person’s” credit score dropped between 540 and 560. With a foreclosure? – 620 to 640.

A Chapter 13 bankruptcy’s “wage earner’s” option can, in some instances, bode more favorably than a property foreclosure, showing a future lender your willingness to repay a debt on a restructured scale. On the other hand, a foreclosure may illustrate a greater desire to walk away from your property and your credit agreements.

If you plan on filing a total debt elimination, or a Chapter 7 bankruptcy, a foreclosure could very well be a byproduct of this decision. While the opportunity to obtain a clean slate may be a tempting proposal, the immediate impact on your living situation is evident. Although foreclosure proceedings generally render a 3-month notice before eviction, what is your plan after this grace period? How will a lower credit score affect these plans?

Conclusion
As stated above, if you’ve fallen behind on your mortgage payment, the first step you want to take is working with your lender to restructure payments and avoid damage to your credit entirely. Bankruptcy and foreclosure are the last resort. If your mortgage agreement is beyond repair, you may face choosing between a foreclosure and bankruptcy. Based on information released from the credit authority, FICO, a foreclosure may be minor damage and less time on your credit report overall.

However, because every situation and credit profile is unique, deciding based on your immediate and future financial needs and goals is essential. Before deciding, speak with a finance expert about your situation and what might work best for you.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Holiday Credit Control]]>Wed, 22 Mar 2017 04:00:00 GMThttps://creditrepairenforcers.com/blog/holiday-credit-control
Has Holiday Spending Been Ruining Your Credit?
During the end-of-the-year holiday season, Americans spend more on gifts than anyone else, and a lot of that spending is through credit cards or merchandise cards.
With major holidays such as Thanksgiving, hundreds of attractive Black Friday sales, and Christmas, it’s more important than ever to take a close look at your finances to ensure you’re not destroying your credit.

The National Retail Federation estimates that the average American spends $700 for over $465 billion during the holidays. That’s a lot of spending, and Thanksgiving and Christmas are the most significant times of year for consumers to rack up credit card debt which can severely damage your credit score if you aren’t maintaining a reasonable debt to credit ratio.

What To Consider Before Swiping Your Credit Card
A few things you should consider before swiping your credit card during Black Friday weekend:
  • Keep your Debt-to-Credit Ratio below 50% (or, even better, below 30%): If your credit card limit totals $10,000, you should keep the balance below $5,000 or, for excellent credit, below $3,000. Maxing out your credit card(s), even just for a short time, can negatively impact your credit score, costing you thousands in the long run.
  • Pay Off or Make Monthly Payments on Time: If you use your credit cards to buy something for your friends and family during the holidays, make sure you make your monthly payments on time, which may seem obvious, but many consumers, after putting a lot more than usual on their cards, sometimes find it challenging to make a higher payment due to the higher balance but making a payment late can drop your credit score by over 30 points!
  • Preplan Your Holiday Budget: Preplanning your holiday spending budget can be very beneficial to avoid overspending or getting pressured into spending more than you expected. Check your finances and determine how much you can spend without creating a financial burden on your household. Don’t forget, if you’re using credit cards, make sure you factor in the interest as well since it can affect the total of your monthly costs. Having a pre-planned budget can help you avoid making spontaneous purchases or succumbing to a holiday sale that you come across.

Keeping Your Credit Score High Means You Can Spend More
Now, we know nobody wants to be advised they can’t spend a lot when there are so many fabulous sales going on, but while you may be saving money by buying when there is a sale, many people tend to spend a lot more than their finances would usually permit, causing them to fall into heavy debt.

There is some good news, though. When you’re careful with your spending and maintain good credit, your credit score will increase, allowing you to spend more. Why? Well, with a higher credit score, your interest rates will be significantly lower, which can save you hundreds of dollars in interest on your credit cards alone. Additionally, you could save thousands of dollars on larger purchases, like your car or home. Why give your creditors extra money when you could be using that money on all these sweet sales going on?

Need help building your credit score or repairing your credit? Contact Credit Repair Enforcers for a free consultation today! (954) 358-9586.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[How In-Store Credit Cards Can Hurt You Financially]]>Sun, 26 Feb 2017 05:00:00 GMThttps://creditrepairenforcers.com/blog/how-in-store-credit-cards-can-hurt-you-financially
You’ve probably heard it dozens of times – you’re going through the checkout at a well-known discount store retailer, and the cashier offers you 10% off your order with their in-store credit card.
This offer seems quite convenient for many people – especially if they’re making a large purchase. Not only do you save money on your large order, but you don’t have to pay it back right away, but can it hurt you financially and damage your credit?

Many consumers have several store credit cards, one from each of their favorite retailers. The problem is that these credit cards have several drawbacks. For one, most in-store credit cards come with a significant fee. Often, the initial costs are more than what you even save when opening a credit account. Additionally, they typically have very high-interest rates – usually 22% or higher – and most of these cards do not have an introductory rate or grace period, meaning they begin collecting interest the moment you swipe the card.

In some cases, these cards can be helpful in certain large purchases for which you’ve already worked out a short-term repayment plan. When paying them off quickly, you can avoid heavy interest fees. However, most in-store credit cards tend to apply for a low minimum monthly payment of about 3% of the balance. As many cardholders tend only to pay the minimum, it can often take years to pay off while collecting interest the entire time. That $500 TV you bought on credit could cost you $2,000 or more, depending on how quickly you pay off the card.

In-store Credit Cards Also Affect Your Credit Score
As discussed above, in-store credit cards are a bad idea financially, but they can also hurt your credit score. Each time you apply for an in-store credit card, the store must run your credit. If you’ve already had your credit run previously in the year (rental car, credit checks, car loan application, other credit card applications), you can lose additional points from your score each time you have your credit run. The in-store cards can affect your credit score in several other ways as well:
  • Credit History
  • Number of Lines of Credit
  • Late Payments

Since you likely won’t use the store credit card as often as other lines of credit, it’s much easier to forget the account, which can lead to late payments, delinquencies, or simply maintaining a maxed-out card for an extended period which can also damage your credit. If you already have several store credit cards, you may want to consider consolidating your debt or paying them off as quickly as possible. Make sure you’re making more than the minimum payments and set reminders for yourself to make each payment on time each month.

For assistance rebuilding your credit score, call Credit Repair Enforcers for a free consultation at: (954) 358-9586.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Four Ways Divorce Can Impact Your Credit Score]]>Sat, 21 Jan 2017 05:00:00 GMThttps://creditrepairenforcers.com/blog/four-ways-divorce-can-impact-your-credit-score
Divorce can be stressful, regardless of how amicable your divorce is.
For some people, a divorce is a relief; for others, it is a tragedy. No matter how you feel about it, you will inevitably have a lot on your plate while getting through it. There are the legal issues, financial negotiations, court hearings, forms to fill out, and possibly even custody battles, none of which are in the least bit enjoyable. Then, to top it all off, there is the impact it will have on your future.

One of those areas that a divorce can impact is your credit and your credit score. It isn’t enough to look at the overall financial situation that a divorce may bring. Instead, a few other essential areas could seriously impact your credit and financial future. Here are four significant ways that a divorce can damage your credit score:

1 – Joint Bills and Co-Signed Loans
Splitting up assets and possessions may be at the forefront of your mind while dealing with a divorce, but most married couples also share at least one, if not several, co-signed loans. Mortgages, car loans, credit cards, and the like require regular payments. Once you’ve separated, those payments will still be required.

A common issue is when one party takes ownership of an asset, such as a vehicle, but stops paying the loan while your name is still attached, affecting their credit and yours. If possible, you should untangle any accounts you share with your former spouse or keep a close eye on them. If you cannot remove your name from the account, you will still be responsible if they neglect to make payments on time. Late payments can quickly lower your credit score and delinquent accounts more so.

2 – Creating a New Budget
Many aspects of a divorce circle back to finances. After the divorce, it is essential to hash out your finances to create a new budget. If you take over certain loan payments, make less money than your former spouse, or are required to make alimony payments, you will need to re-establish your monthly budget and financials, which will help ensure you can still make your credit or loan payments on time.

Divorce also comes with its slew of costs – lawyer and court fees and assets that you split – and it could drain any rainy-day funds you may have set aside. Make sure that you work out a new budget that will allow you to replenish your savings to avoid financial problems down the road that could damage your credit.

3 – Shared Accounts
A typically more sensitive subject is shared or joint bank or credit accounts. Despite any trust you may have in your former spouse; you should consider removing them as an authorized user on any accounts you own. Especially with credit or loan accounts, a vindictive ex-spouse could cause severe damage to your credit.

It would be wise to change bank account passwords and the passwords on any accounts that allow someone to order or purchase something using your stored billing information.

4 – Ex-Spouse Files Bankruptcy
Another way a divorce could seriously impact your credit score is if your ex-spouse files for bankruptcy. Even long after you finalize your divorce, if your ex-spouse has any loans or lines of credit that still have your name on them when they file for bankruptcy, it could harm your credit score.

To avoid having this affect your credit, make sure your name is no longer on any loans, mortgages, or lines of credit if possible. It is also helpful to check your credit report regularly following a divorce to watch for any potential problems or errors.


If a recent divorce has already impacted your credit score, or you need assistance 
increasing your credit score, contact Credit Repair Enforcers today for a free consultation.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Avoid Overspending on Gifts During the Holidays]]>Mon, 05 Dec 2016 05:00:00 GMThttps://creditrepairenforcers.com/blog/avoid-overspending-on-gifts-during-the-holidays
The holiday spirit is upon us. With just a few days until Christmas, this is when many of you are doing your last-minute shopping for gifts, planning weekend and New Year’s Eve parties, baking, and so much more.
It’s a beautiful time of year, and you shouldn’t give up the festivities but if you’re trying to cut back on spending to improve your financial status next year, then here are a few tips to help:

Stick To Your List 
While shopping for gifts for others, we tend to get carried away, often spending much more than we ever expected. This can cause severe financial hardship when we get hit with reality after the holiday season.

When shopping for gifts, make sure you stick to your list of recipients. It’s great if you can also give your co-workers, distant relatives, and casual friends something but avoid going overboard. Instead, consider sending a card to let them know you’re thinking about them. Another excellent idea for co-workers and casual friends is the White Elephant Gift Exchange – make sure you limit it to around $10.

Lastly, you don’t need to feel bad when a friend gets you a gift, and you don’t have one to give back. Just thank them and be grateful. Unless it’s someone very close to you, they won’t think anything of it. Just don’t give out of guilt. If they’re not on your list, they’re not in your budget.

The Perfect Gift is Whatever You Can Give
Gift-giving can be pretty stressful. We’re always afraid that the recipient won’t appreciate or like our gift, or it won’t measure up to something they gave you or received from another person. There’s no reason that you should feel obligated to turn gift-giving into a competition.

The unfortunate truth is that holiday gift-giving has become a competition for many. Bragging about the excessive amount of money that you spent on gifts takes away from the spirit of giving in the first place. People should be giving to show how much they care, not how much they can spend. So if your gift is thoughtful and warm, it doesn’t matter how much it did or didn’t cost. What matters is that you’re giving from the heart.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!

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<![CDATA[Minimum Credit Score Needed to Purchase a Car]]>Mon, 07 Nov 2016 05:00:00 GMThttps://creditrepairenforcers.com/blog/minimum-credit-score-needed-to-purchase-a-car
A car loan is needed if you are planning on purchasing a new vehicle and don’t have the cash or trade-in to cover the required total.
Getting approved for a car loan, however, can depend on a few variables, such as:
  • Employment verification
  • Income – How much and how dependable that income is
  • Credit payment history
  • Assets and net worth
  • Credit score and more

Out of those facets, your credit score can significantly impact whether or not you are approved for a car loan and how low your interest rate will be. Having a good credit score will not only ensure that you are approved but will also lower the interest rate considerably, decreasing your payment significantly.

As far as a minimum credit score needed to be approved, that can vary depending on the lender. Some lenders are willing to risk approving a loan to someone with poor credit because they can mitigate some of that risk by hiking up the interest rates. Car loans to borrowers with poor credit tend to pay 3 to 4 times as much as someone with good credit. Poor credit is usually identified by having a credit score between 501 and 600, while a “bad” credit score is considered less than 500.

Check Your Score Before You Apply
The general rule of thumb when applying for a car loan with a low credit score is that you will need a score above 500 to get approved. Lower than that, and it is highly unlike that you will get approved and, instead, you will only be damaging your credit further by applying. You could decrease your score each time a potential lender runs your credit.

If your credit score is below 500, but you recently went through bankruptcy and no longer have any debt, it is not unlikely that lenders will line up to give you a car loan even with poor or bad credit. That is because it isn’t as risky for them to lend to you since they know you no longer have any other debt to worry about. But, again, you will likely have to deal with a very high-interest rate and payments.

The best route would be to work on increasing your credit score as much as possible before applying for a car loan. That way, you can be sure that your application will get approved, your interest rate will be lower, and your car payments will be much easier to make.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[How Buying a Car Can Lower Your Credit Score]]>Tue, 18 Oct 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/how-buying-a-car-can-lower-your-credit-score
How Buying a Car Can Lower Your Credit Score
The end-of-year car sales are upon us, and while the deals are usually outstanding during this time of year, you should also consider how buying a new car could affect your credit.
Specifically, how it could affect or lower your credit score.

Your FICO credit score is calculated by a complex algorithm involving an extensive list of things that either positively or negatively affect your credit score. Right now, we want to focus on how a car purchase can affect our score. I want to focus on how it could potentially lower your credit score.

The Credit Check
Unless you’re purchasing the vehicle with cash – in which case it wouldn’t affect your score – the first step in the purchase process would be to qualify for a car loan. The method of qualification includes a credit check. If you have already had your credit run several times that same year, having it checked again could negatively impact your score. This can be extra dangerous if your credit score is low, as you may have to apply with several different lenders before getting approved. If that is the case, your credit will be run several times, lowering your score even further.

Debt-to-Income Ratio
The next area that could negatively affect your score is the debt-to-income ratio. One of the pieces in the FICO score puzzle is looking at how much debt you have versus how much your income is. If you already have a lot of debt – such as a mortgage, student loans, credit cards, doctor bills, etc. – then increasing that debt by adding a car loan, especially if it’s a large amount, can seriously impact your credit and lower your score.

On the flip side, someone with no debt but poor credit – such as someone who recently went through bankruptcy – could improve their credit score by purchasing a new car. Adding some debt and making regular payments helps show they’re financially stable and adds positive credit history.

Monthly Payments
Lastly, you want to consider the monthly payments. While you don’t want to get a payment plan over five years, your monthly payments could also be high if you have poor credit and your interest rate is high. The last thing you want to do is accept a monthly payment that you can “get by” with. Always remember that cars have expenses outside of monthly payments – such as oil changes, new tires, maintenance, battery replacements, etc. – which could cause financial problems down the road.

When purchasing a new vehicle, make sure you can easily make the monthly payments to avoid dealing with late payments. Late payments can seriously damage your credit and lower your score. Many people tend to purchase a vehicle with reasonable monthly payments but seldom consider the instances where things don’t go as planned. Make sure you can easily make the monthly payments with room to spare.

The interest rate will be a significant factor in the monthly payment. That is primarily affected by your credit score. If you have a low credit score, your interest rate will be high, which will increase your monthly payments significantly. If it’s going to be tight, your best bet is to focus on improving your credit score before buying a new car.

For more financial advice or assistance with credit repair, contact Credit Repair Enforcers for a free consultation.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[States With the Worst Credit Scores]]>Mon, 05 Sep 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/states-with-the-worst-credit-scores
The Top Worst States for Credit Scores
Having a high credit score is extremely important in today’s financial world and is used by dozens of industries to determine whether you’re a risk to them or not.
Credit scores are checked for hiring, renting, buying, and dating. We all understand how important credit scores are, and while where you live isn’t necessarily going to affect your credit score, we’ve decided to put together a list of the top states with the best and worst credit scores below.

While it’s unlikely that any location will directly impact your credit score, you may want to consider that in some cities, the average household is more financially stable than others. If we look at the city with the highest average credit score, for instance, Minneapolis-St. Paul has an average median income of almost $70,000 per year, whereas a city like Shreveport, with a much lower average credit score, has a median income of only $42,157. So, it’s possible that the higher income directly affected the credit scores as card holders were more financially stable. 

A good credit score is a sign of healthy money management — it’s also necessary if you want to afford many of life’s necessities. For example, if you buy a home this spring, a higher credit score will get you a lower mortgage, saving you money. The same is true for car loans; a higher credit score can get you a lower APR on your auto loan.

While a credit score can determine which financial products you have access to, the score itself can be heavily influenced by where you live, finds a new study from CreditRepairEnforcers.com. Using Experian data on local credit scores, CreditRepairEnforcers.com calculated the average credit score by the state to find the 10 states where people have the best credit scores — and the 10 with the worst credit.

10 States With the Worst Credit Scores
What is a bad credit score? While the top 10 states have high credit scores that border on excellent, the 10 with the worst credit scores have “fair” to “poor” credit ranges. Among the states with the worst credit scores, a high majority — eight out of 10 — are located in the South, showing a significant trend of poor credit in this region.
According to Census Bureau data, these states with the lowest credit scores also had lower median household incomes; nine states had incomes below the national median of $53,657. Low incomes are a significant risk factor for mismanagement of debt. With fewer financial resources, low earners are more likely to take out loans or rely on credit but will also have a diminished ability to meet their credit obligations and stay current on payments.
  1. New Mexico and Arkansas - 653.7: Missed payments and delinquent debts are significant contributors to the low credit scores in New Mexico and Arkansas. The Urban Institute reports that nearly half (47.3 percent) of New Mexico residents have debts that are past due or in collections. Borrowers with personal loans in this state have a delinquency rate of 6.41 percent for this type of credit, much higher than the national average of 3.87 percent. In Arkansas, 45.8 percent of residents have debts that are past due or in collections. And the average personal loan balance in the state is a staggering $20,117, while the national average is just $13,649, according to TransUnion.
  2. Tennessee - 653.6: Like many other Southern states, Tennessee has lower incomes and credit scores. Tennessee’s median household income of $43,716 is the sixth-lowest in the nation. With less money, Tennessee earners will be on tighter budgets and can afford less debt. If they do take on debt, there’s a higher risk of delinquency; Tennessee has higher rates of delinquencies than the national average for personal loans, credit cards, and auto loans, according to TransUnion data.
  3. Alabama - 652.4: Alabama is another Southern state with one of the worst average credit scores. In this state, nearly half (47.6 percent) of borrowers have debts that are past due or in collections — 9 percent more than the national average of 38.5 percent, according to Urban Institute data. This isn’t surprising, considering Alabama has an above-average mortgage delinquency rate; the rate is 2.53 percent in Alabama compared to the national average of 2.37 percent.
  4. South Carolina - 650.3: South Carolina’s average credit score of 650.3 is squarely on the border between “poor” and “fair,” making it harder for many of the residents in this state to qualify for credit and secure favorable terms. Even worse, South Carolina has a low median household income of just $44,929, which makes it challenging for earners to find room in their budgets to pay down debts and manage credit wisely. Most South Carolina borrowers, 52.7 percent, have obligations that are past due or in collections. These outstanding debts are negative marks on many South Carolina consumers’ credit histories and are likely a factor keeping credit scores in the state low.
  5. Oklahoma - 649.5: Another Southern state with low credit scores and low incomes to match, the median household income in Oklahoma is $47,199. Oklahoma residents struggle with debt delinquency more than most Americans, and the problem could worsen. Oklahoma’s credit card delinquency rate saw a 14.6 percent year-over-year change.
  6. Texas - 646.9: Texas is the only state among the 10 with the worst credit scores, with a median income ($53,875) that exceeds the national benchmark ($53,657). Despite this, Texas still has one of the worst average credit scores in the nation. The saying that everything’s bigger in Texas holds for auto loan balances; Texas borrowers carry the highest balances on their car loans at $22,989, just under $5,000 more than the national average of $17,999, according to TransUnion. With higher loan balances, the risk of missed payments rises as well. According to Urban Institute data, Texas also has a high percentage of borrowers with debts past due or in collections at 52.3 percent. This state also has the highest delinquency rate for personal loans, with 6.92 percent of borrowers, with these loans being 60 days or more past due.
  7. Nevada - 644.3: More than 52 percent of people in Nevada have debt past due or in collections, meaning most Nevada borrowers have an overdue debt on their credit histories that’s counting against their score. According to a New York Federal Reserve Bank report, Nevada residents also have household debt balances that are higher than the national average of $46,170. With bigger debts but smaller incomes (the median is $49,875), borrowers in Nevada are less likely to maintain the ability to pay off debts.
  8. Louisiana - 643.6: Along with earning a low median income in the nation, $42,406, most Louisiana residents (52.5 percent) have debts that are past due or in collections. With less money coming in, Louisiana borrowers have fewer funds to put toward debts, a significant factor placing the state at No. 3 among those with the worst credit scores.
  9. Mississippi - 637.1: With the lowest incomes in the nation ($35,521 for the median household), Mississippi residents are the poorest and most financially insecure in America. Mississippi debtors have higher-than-average delinquency rates on mortgages, auto loans, and credit cards. For credit cards, Mississippi has the highest rate of credit card delinquencies at 2.57 percent, 63 percent higher than the national rate of 1.58 percent in Q4 2015. It also has one of the highest levels of auto loan delinquencies — along with Louisiana — according to data from both Experian and TransUnion.
  10. Georgia - 636: With a 636 average that falls in the credit score range of “poor credit,” Georgia consumers have the lowest credit scores in the nation. Georgia has many borrowers with debts that are past due or in collections — 48.1 percent. Georgia’s average credit card balance ($5,637) is above the national average, as is the state’s average car loan debt ($19,679). As for delinquency rates, Georgia has an above-average mortgage delinquency rate (2.6 percent), car loan delinquency rate (1.78 percent), credit card delinquency rate (2.2 percent), and consumer lending delinquency rate (5.09 percent).

You must check your credit score and credit report if you want a perfect credit score or the highest one possible. You can get your free credit report online by visiting AnnualCreditReport.com. Getting a free credit score, however, might be a bit trickier. In most cases, you will likely have to pay a small fee to one of the three credit bureaus — TransUnion, Experian, or Equifax — to receive your credit score.

Methodology: To generate average credit scores by state, CreditRepairEnforcers.com sourced average credit scores for 213 U.S. cities reported by Experian in its 2015 State of Credit report. These credit scores by the city were grouped by state. CreditRepairEnforcers.com then averaged all cities’ credit scores reported in each state, including the District of Columbia but excluding Delaware and New Hampshire, for which no city credit scores were reported. These credit score averages were ordered from highest to lowest to find the states with the best and worst credit scores.
 
Credit score and open credit card data are from Experian. We analyzed 143 of the largest U.S. metropolitan areas.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[States With the Best Credit Scores]]>Sat, 13 Aug 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/states-with-the-best-credit-scores
The Top Best States for Credit Scores
Having a high credit score is extremely important in today’s financial world and is used by dozens of industries to determine whether you’re a risk to them or not. Credit scores are checked for hiring, renting, buying, and dating.
We all understand how important credit scores are, and while where you live isn’t necessarily going to affect your credit score, we’ve decided to put together a list of the top states with the best and worst credit scores below.

While it’s unlikely that any location will directly impact your credit score, you may want to consider that in some cities, the average household is more financially stable than others. If we look at the city with the highest average credit score, for instance, Minneapolis-St. Paul has an average median income of almost $70,000 per year, whereas a city like Shreveport, with a much lower average credit score, has a median income of only $42,157. So, it’s possible that the higher income directly affected the credit scores as card holders were more financially stable. 

A good credit score is a sign of healthy money management — it’s also necessary if you want to afford many of life’s necessities. For example, if you buy a home this spring, a higher credit score will get you a lower mortgage, saving you money. The same is true for car loans; a higher credit score can get you a lower APR on your auto loan.

While a credit score can determine which financial products you have access to, the score itself can be heavily influenced by where you live, finds a new study from CreditRepairEnforcers.com. Using Experian data on local credit scores, CreditRepairEnforcers.com calculated the average credit score by the state to find the 10 states where people have the best credit scores — and the 10 with the worst credit.

10 States With the Best Credit Scores
What is a good credit score? Credit score ranges are typically between 300 and 850, and the 10 states with the best credit scores all have 690 or above, comfortably in the excellent credit range. With good credit scores in this range, residents of these states will find it easier to qualify for loans and get lower interest rates and other favorable terms.

Living in the Midwest makes you more likely to have a higher credit score. Six of the 10 states with the highest average credit scores are in the Midwest. The states with higher credit scores also tend to have lower rates of debt delinquency (debts that are past due or possibly in collections).
  1. Montana - 688.4: The average credit score in Montana is still high enough to qualify as good credit, making it easier for residents to get loans and keep borrowing affordable. Fewer Montanans, just 30.3 percent, have debts that are past due or in collections, about 8 percent less than the national average of 38.5 percent, according to data from the Urban Institute’s 2014 “Delinquent Debt in America” report. Montana also has the lowest number of borrowers that are 60 days or more delinquent on personal loans, according to credit bureau TransUnion’s 2015 report on consumer lending, mortgages, credit cards, and auto loans.
  2. Hawaii - 689.7: Hawaii residents also have good credit, even though they borrow on credit cards more than most Americans. According to TransUnion’s data, the average credit card balance nationwide is $5,337. Hawaii cardholders owe $409 more, with average balances at $5,746 in the state in Q4 2015. Despite higher credit card balances, Hawaii residents have the third-highest median income of $71,223 in 2014, according to U.S. Census data, which should help them manage credit responsibly. Just 27.3 percent of Hawaii borrowers have past-due debts and debt in collections compared to the national average of 38.5 percent.
  3. Iowa - 690.2: Iowa residents have earned higher credit scores by paying debts on time. According to Urban Institute data, only three in 10 Iowans (30.4 percent) have debts past due or in collections. According to TransUnion data, Iowa residents also have below-average credit card delinquency rates and the lowest average credit card balances in the nation at just $4,386.
  4. Nebraska - 690.7: Nebraska residents are less likely than most Americans to have debts past due; just 28.2 percent of the state’s residents have debts past due or in collections. Nebraska also has a mortgage delinquency rate that’s less than the national average (1.26 percent compared to 2.37 percent, respectively) and lower credit card balances and delinquencies.
  5. New Jersey - 693: With a higher median household income of $65,243, New Jersey residents might find they have more room in their budgets to keep up with debts and responsibly manage credit. New Jersey has delinquency rates that fall below the national averages on significant debt payments like car loans, personal loans, and credit cards. Still, many New Jersey homeowners have struggled to keep up with mortgage payments, and at 4.7 percent, the state has the highest number of residents 60 days delinquent on mortgages, according to TransUnion data.
  6. Vermont - 693.4: Fewer Vermont borrowers have debts past due or in collections, just 28.2 percent, according to numbers from the Urban Institute. With fewer Vermont residents facing delinquent debts, it’s easier for them to keep credit scores healthy and well within the range of a prime credit score.
  7. South Dakota - 694.3: The average 694.3 credit score in South Dakota shows that the residents in this state are better at managing credit. An essential part is making payments on time, as many South Dakotans do on their auto loans. The state has a delinquency rate of just 0.95 percent on car loans past 60 days delinquent, according to TransUnion. In comparison, the national rate is 1.24 percent. South Dakota credit cardholders also keep balances low; the average card balance in this state is $600 less than the national average of $5,337.
  8. Wisconsin - 695.8: Wisconsin residents borrow less on credit, as shown with low balances that average $4,589, $748 less than the national average. By owing less, Wisconsin cardholders keep credit card debt manageable, which helped the state achieve the lowest credit card delinquency rate at 0.92 percent, according to TransUnion data.
  9. North Dakota - 696.5: North Dakota residents are the least likely to miss a mortgage payment, earning the lowest delinquency rate on mortgages at 0.97 percent. North Dakota also has some of the lowest delinquency rates on debts like credit cards, auto loans, and personal loans. Overall, less than a quarter — 24.2 percent — of borrowers in North Dakota have obligations that are past due or in collections, according to Urban Institute data. With more people in this state wisely managing their credit and debts, North Dakota earns the second-highest average credit score at 696.5.
  10. Minnesota - 704: Minnesota’s average credit score is most squarely in the “good credit” range, tipping past the 700 mark. All four Minnesota cities for which Experian reported an average credit score had a score of 701 or above, with Mankato, Minn., taking the No. 1 spot with an average score of 706 — not exactly an excellent credit score, but it’s still very, very good. With a median income of $67,244, Minnesotans can afford more debt — yet avoid raising it. According to TransUnion data, Minnesota’s average balances on mortgages, credit cards, and auto loans are well below average. And when they do accrue debt, Minnesota residents responsibly make payments; Minnesota has a low rate of debts that are past due or in collections, with over three in four (76.1 percent) of borrowers in this state avoiding this common credit issue.

These behaviors show residents are more likely to have lower credit utilization ratios and histories of on-time payments, which are major factors that boost credit scores.

You must check your credit score and credit report if you want a perfect credit score or the highest one possible. You can get your free credit report online by visiting AnnualCreditReport.com. Getting a free credit score, however, might be a bit trickier. In most cases, you will likely have to pay a small fee to one of the three credit bureaus — TransUnion, Experian, or Equifax — to receive your credit score.

Methodology: To generate average credit scores by state, CreditRepairEnforcers.com sourced average credit scores for 213 U.S. cities reported by Experian in its 2015 State of Credit report. These credit scores by the city were grouped by state. CreditRepairEnforcers.com then averaged all cities’ credit scores reported in each state, including the District of Columbia but excluding Delaware and New Hampshire, for which no city credit scores were reported. These credit score averages were ordered from highest to lowest to find the states with the best and worst credit scores.
 
Credit score and open credit card data are from Experian. We analyzed 143 of the largest U.S. metropolitan areas.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Renting a Car for Your Holiday Vacations]]>Wed, 06 Jul 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/renting-a-car-for-your-holiday-vacations
The holiday season is upon us, and many of us will take time off work to visit family and friends or get out of town.
With so many people taking vacations, the number of rented cars increases dramatically. Unless you’re planning a staycation, you will likely need a vehicle or reliable means of transportation once you get to your holiday destination. That is usually where rental cars come in handy.

Renting a car during your vacation has its advantages, and it’s also fun driving a “new” car. It can also be convenient and often more affordable than relying on taxis, saving you time and headache. The advantages aside, it’s important to note that if you plan on renting a car using a debit card, you should know how it can affect your credit.

Rental car companies prefer that their customers use a credit cards. Thrifty Rental Car explains on its site, “Renting a car to someone with no credit card is risky for rental car companies. Not having a credit card is a red flag that you may be a credit risk.”

Because of this, it is much easier to use a credit card to rent a car than a debit card. That being said, not everyone has a credit card, and their only option is to use debit for payment. That can be fine; however, you should know what that can entail. This is even more important if you do not have a credit card to use because of poor credit.

Using a Debit Card for Car Rentals

Many car rental companies will allow you to use a debit card for your rental, but they don’t make it easy. When using a debit card, the rental companies will usually require you to have the total amount of the scheduled rental charge available in your account and may also put a hold of up to $350 on your account. Additionally – and what you need to worry about – they may also run your credit.

Some rental companies will check your credit score before approving the rental, while others will look for multiple delinquent lines of credit opened within the last three years. Each time they run your credit, it can lower your FICO score by five or more points. If your credit score is already low, it will worsen, and you could also be declined. After being denied at a rental company, many people will try getting a rental from another company, and their credit will be rechecked by the following company, lowering their score even further.

If you think your credit score may be too low (a score lower than 500 can be risky), you should seek alternative options. At the very least, you should contact the rental company you plan to use and ask about their credit requirements to determine how strict they are before having your credit run.

Alternatively, you could look for a rental company that won’t run your credit, although they may have other stipulations. Here is a list of rental companies that currently check your credit when using a debit card and those that don’t:
Companies that run a credit check
  • Advantage
  • Avis
  • Budget
  • Hertz
  • Thrifty
Companies that do not run a credit check
  • Alamo
  • Enterprise
  • EZ Rental
  • National

The companies that do not run credit checks may not allow you to use a debit card, so you may want to contact them before making plans.

If you don’t have a credit card and don’t want to risk damaging your credit, the best route to take would be to find an alternative means of transportation, such as:
  • Uber, Lyft, or other ride-share services
  • Taxis or limo service
  • Public transportation

While these options may not be as convenient, they could help prevent severe damage to your credit that could haunt you down the road. If your credit score is low and you need assistance improving your credit score, contact Credit Repair Enforcers today for a free consultation: ​(954) 358-9586

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Does a High Credit Score Lower Car Insurance?]]>Fri, 10 Jun 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/does-a-high-credit-score-lower-car-insurance
Can You Lower Your Car Insurance With a Higher Credit Score?
You probably already know how your credit score can affect interest rates for any mortgages, loans, and credit cards you take out.
But what about car insurance? Does having a good credit score lower the premiums you’ll pay for it?

The answer is “mostly yes,” as this article will attempt to explain. In all states except California, Massachusetts, and Hawaii, car insurance companies can use your credit score to determine your likelihood to pay and judge the risk you pose on the road. And while that may sound good on the surface, it carries a bit of controversy.

How Car Insurance Companies Use Your Credit Score 

Many car insurance companies, except in the three states mentioned above, confidently use your credit score to develop car insurance plans. The reason why is because multiple studies have shown that individuals with high credit scores tend to get into fewer road accidents than their low-scoring counterparts.

Unfortunately, the “score” these car insurance companies come up with is NOT precisely the credit score determined by FICO. Each car insurance company is free to consider any of the 30+ financial factors that make up the FICO score – and is likewise free to leave out any of those factors – in coming up with their own “score.”

And here’s the shady part: These car insurance companies are not obliged by law to tell you how they came up with their scores. That means they can put more weight on how diligently you pay your bills instead of putting more significance on your road safety track record.

On the other hand, most reputable car insurance companies do come up with reasonably accurate “scores” to use in working out insurance plans. And the trend is still evident: The higher your credit score, the lower your premiums.

So What Should You Do? 

So as you can see, the way car insurance companies calculate how much you’ll need to pay each year is controversial at best. But it is how it is, and until things change, the best we can do is to make the most of it. Here’s how to make sure you find the best possible rates for your car insurance policy:
#1: Keep your credit score up. Keep a tab on your credit score, correct any mistakes you may find on your credit history, pay your bills on time, and use only 30% of your available credit. Remember, the higher your FICO score, the more you’ll save on car insurance premiums – even if there’s no way to tell exactly how much.
#2: Drive safely. Obey traffic rules, avoid getting into accidents, keep your papers up-to-date, and avoid whatever leads you to road rage. Car insurance companies WILL look into your road safety record when coming up with your policy.
#3: Shop around. Get quotes from as many reputable car insurance companies as possible. While we can’t find out how they come up with their policies, we can compare prices. 

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Habits of Wealthy People]]>Thu, 12 May 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/habits-of-wealthy-people
Top Four Habits of Wealthy People
Want to be wealthy?
Here’s some advice:
  • Set a financial goal for your life.
  • Work with what you have.
  • Make smart financial decisions moving forward.

Here are the Top 4 habits of wealthy people – see how they do it, and start using them to build your wealth.


Habit #1: They Learn From Their Mistakes
Most wealthy people don’t start rich. Many wealthy people grew up in low-income households. Many have also made the mistake of falling into massive, crippling debt.

So how did they become wealthy? Simple – they learned from their mistakes. They didn’t avoid the pain of debt and poverty – they embraced it, felt the burn, and promised themselves: “This will NEVER happen to me again!”

What’s your current financial pain? Want to feel that pain every day for the rest of your life? Of course not! Be honest with yourself – find the mistakes you made, and make adjustments to ensure you NEVER make them again.

Habit #2: They Have a Clear Goal

What’s your financial end goal? Is it to be a millionaire? Or simply freedom from any financial worries? How about securing a comfortable retirement with your loved ones?

Whatever your goal is, set it right now – and then make sure all financial decisions you make from now on nudge you closer and closer to that goal.


Habit #3: They Pay Themselves First

Perennially penniless people make the mistake of paying their bills first and then putting what’s left over into their savings and investments. Don’t do that – there will be NOTHING left!

Instead, pay yourself first. Set aside a fixed portion of your monthly income to fill your emergency and retirement funds. It’s also a wise option to get more insurance if you’re feeding a family – if something terrible happens, your family can invest the money and live off the interest.


Another way to pay yourself would be to invest in skills, tools, and tiny businesses that help you generate passive income. The simple two-pronged approach of cutting costs and increasing income has helped many people rise from debt and poverty and achieve wealth.

Habit #4: They Find the Absolute Minimum to be Happy

And lastly, stop filling your life with stuff. In all the major and minor purchases you make in life, ask yourself two questions:
  1. What’s the absolute minimum that makes me happy?
  2. Is there a better option that helps me save more money in the long term?

Find the option that satisfies both criteria, and stick with that – you’ll save tens of thousands of dollars (or even more) throughout your lifetime. And you can invest that extra money to push you closer to your financial end goal.

So get started right now. Find out what you want out of life. Then find out where you are in life right now. Then use the four wealth-building habits in this article to bridge the gap.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[How to Save and Spend Money at the Same Time]]>Mon, 18 Apr 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/how-to-save-and-spend-money-at-the-same-time
Three Ways to Spend Money and Save at the Same Time
Many people try to save money by cutting costs and curbing their spending urges.
Unfortunately, such a hard-line approach to saving money is like crash dieting – stressful and depressing.

And, worst of all, after you can’t take anymore, you tend to binge on the very thing you’ve been trying to curb, leaving you in an even worse position than you were when you started.
Can I make a suggestion? Learn how to spend money while saving money instead of trying to stop spending cold turkey. Like smart dieting, it’s a way of balancing saving money and getting the spending buzz we’re so desperately addicted to. Here are three ways to do that:

#1: Use Cash
The problem with credit cards is that they can spell financial disaster in one fell swipe. But when you use cash, you have a tangible limit on how much money you can spend. As a result, you budget your money more carefully and make more intelligent purchases.

Our advice is that when you have credit cards, promise to use only a maximum of 30% of the available balance – and be sure to pay in total and on time every month. But use cash for most of your spending – if you can manage it, keep your credit cards at home. (And if you’re in massive debt, cut them up into pieces until you pay everything off.)

If you don’t like carrying cash around, here’s another option: Use debit cards because you can’t spend what you don’t have with debit cards. Ask your employer if your salary can be directly deposited into your debit card account, and then use the card for your purchases.

#2: Set a Time and Budget Limit for Shopping
When shopping for anything, make a list of things you need to buy and stick to it – no side trips to the department store! Also, set a budget limit and commit to NOT spending any more than that.

Taking five minutes to make a list and limit can save you hundreds of dollars a month, plus great stress.

#3: Reward Yourself
Whenever you save money – such as by getting out of the supermarket or mall within the time limit you gave yourself, or when you successfully stayed within budget for the month – treat yourself to a well-deserved reward.

Buy something nice that costs only a tiny fraction of the money you saved. Buy only one item. The next time you successfully save money, reward yourself again.

The key is to become your own #1 fan regarding your financial decisions. Cheer yourself on as you make better and wiser financial decisions. The more you reward yourself, the more you hammer the good habits home.

So remember: Don’t go on a money diet. Instead, get money-smart. Keep these three tips in mind and start spending and saving money simultaneously.

For 
help increasing your credit score to save even more, contact Credit Repair Enforcers for a free consultation today!


About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Improve Life With Lower Debt]]>Sat, 26 Mar 2016 04:00:00 GMThttps://creditrepairenforcers.com/blog/improve-life-with-lower-debt
How Lowering Your Debt Can Improve Your Life 
Statistics say that almost half of American households spend more yearly money than they make.
And if that’s not worrying enough, other statistics show that the average American home is more than $8,000 in debt – and that’s for credit cards alone!

The result: Households spend years, even decades, paying off debts. And this puts the rest of the American Dream at risk: The lack of money can leave the family unprepared for accidents, disasters, economic downturns, and retirement.

This is why debt reduction (if not debt elimination) should be everyone’s #1 financial goal. Before you put your money in an emergency fund, insurance, business, or retirement, we strongly recommend you lower your debt as soon as possible. Here are four compelling reasons why: 

#1: You’ll Save More Money in the Long-Term
Death by debt comes in the form of compounded interest payments. On average, credit cards charge 42% interest per year. Assuming your household is $8,000 in debt, you’ll be paying $3,360 in debt every year, and if you can’t keep up with the interest payments, you’ll be spending even more, the following year.

But when you get out of debt, all that money goes into your pocket instead. You can use that extra $3,000+ to buy insurance, fill an emergency fund, start passive income streams, and prepare for retirement.

The sooner you lower or eliminate your debts, the more money you’ll save and the more things you can do in life.

#2: You Can Spend Money Freely 
When you’re free of debt, you’re free to spend your money on life’s other necessities: Insurance, an emergency fund, retirement investments, more comfortable living arrangements, and so on. And without any interest payments to worry about, you have peace of mind.

Being debt-free means you know that whenever you spend for anything, you’re spending money you HAVE, not money you OWE. Plus, you can sleep well at night knowing that you have enough money in the bank to carry you through any emergency, plus enough insurance just in case.

#3: Better Chances of Qualifying for Loans
The lower your debt, the lower your debt-to-income ratio. The debt-to-income ratio is a valuable indication of your true financial wealth). And when you have a low debt-to-income ratio, lenders will trust you more – they know you’re someone who pays their dues in time. So you’ll have a much easier time qualifying for loans – for a new home, a new car, capital for a new business, and so on. And on top of that, you’ll get the best interest rates possible. 

#4: Worry-Free Retirement 
When you’re buried in debt, you’re constantly stressed. And stress has been proven to lead to various life-shortening (and even life-ending) medical conditions. The longer you stay in debt, the higher your chances of getting seriously sick!

But when you have no debt (or at least keep it at a very manageable level), you have peace of mind. You can focus on preparing for retirement, pursuing a career, or enjoying life.

Lower or Eliminate Your Debt Now!
There are many ways to lower or eliminate debt, but it all starts with spending less money than you make and then diligently paying off your debts every month. That way, achieving financial freedom will only be a matter of time.

Learn how to lower your debt more effectively by increasing your credit score and interest rates by contacting Credit Repair Enforcers today!

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[A Higher Credit Score Can Save You Money]]>Tue, 16 Feb 2016 05:00:00 GMThttps://creditrepairenforcers.com/blog/a-higher-credit-score-can-save-you-money
Three Ways a Higher Credit Score Can Save You Money 
Want to know how a higher credit score can save you money?
Most people have heard about the importance of building a healthy credit score, but surprisingly few know what it’s all about, let alone what it takes to raise it. This article will explain how to increase your credit score in a nutshell and three significant ways it helps millions of Americans save money. 
Your credit score can be raised if you follow the following tips:
  • Pay your bills on time – every single one of them
  • Only use less than 30% of your available credit (e.g., credit cards)
  • Start building credit as early as possible
  • Constantly build new credit accounts or regularly make credit inquiries
  • Diversify your credit usage among mortgage, credit cards, car loans, student loans, etc.

Now, here are 
three ways a higher credit score can save you money:

#1: It Can Get You Better Mortgage Deals.

Your home will be one of the most significant purchases you’ll ever make in your life. And if you have a high credit score, you can stand to save up to $100,000 or more on your home.

You pre-qualified for a $400,000 fixed home loan for over 30 years. At a credit score of 620, you’re likely to get an interest rate of about 5%, which over 30 years will make you pay almost another $400,000 in interest alone.

But with a high credit score of 780, you can qualify for a rate as low as 3.5%, which over 30 years will only amount to roughly $300,000 in interest. That’s savings of around $100,000.

It’s best to start bringing your credit score up as early as possible to get the best rate and save thousands of dollars when you’re finally ready to get a home loan.


#2: Better Rates for Student Loans

Likewise, your credit score can dictate how much money you can save when paying for student loans. Rates vary widely between lending companies, but here’s an idea: On a 10-year fixed rate deal, the rate can be as low as 4.7% or as high as 6.5% per year. Moreover, most companies that provide student loans have a minimum required score from applicants. To be safe, keep your credit score at 725 or higher. 

#3: Better Rates for Credit Cards 

Again, your credit card interest rate will vary between companies – generally between 10% and 23%. You can more easily negotiate a higher credit limit and a lower interest rate if you have a high credit score. And when the unthinkable happens, and you can’t pay off your outstanding balance, a low-interest rate will help you pay it off in less time and with less money.

Build Your Credit Score Now. 

Building a healthy credit score is one of the most critical financial efforts you’ll ever make. The sooner you build it, the more money you’ll save in the long run – quite possibly in the hundreds of thousands of dollars or even more.
For assistance with credit repair or for a free financial consultation, contact Credit Repair Enforcers today at ​(954) 358-9586.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Improving Your Financial Freedom]]>Mon, 11 Jan 2016 05:00:00 GMThttps://creditrepairenforcers.com/blog/improving-your-financial-freedom
Using Your Tax Refund to Improve Your Financial Freedom
Did you know you could use your tax refund to improve your financial freedom?
It’s true – it’s a hot topic among American homeowners. Everyone wants to know how to use their tax refunds best to secure financial security.

First, knowing what a tax refund is and why you get it every year is essential. Getting a tax refund means you paid too much for the previous year’s taxes. You gave the government a zero-interest loan, and now they’re paying you back. How thoughtful.

So what are the best ways to use your tax refunds? Here are our top three ideas: 

Tip #3: Invest It 
Securing a comfortable retirement is always a part of anyone’s plan for financial freedom. And if you’re already strapped for cash throughout the year, your tax refunds might be enough to secure your retirement over the next few decades. 

The idea is to invest your tax refunds faithfully, every single year for 20-30 years or more, in an investment vehicle (or collection of cars) that gives you at least 8% interest per year. If you received an average of $3,000 in tax refunds each year and put it in an investment fund that gave you 8% per year, you’d have well over a half million dollars at the end of 36 years. 

And if you could wait another nine years, that will double to a million dollars. That’s why this approach is best started as early as you can – the longer you can wait, the more comfortable your retirement will be. 

Tip #2: Keep It In an Emergency Fund
Some statistics say that only 2 out of every 5 American households have enough savings for emergencies. You can use your tax refunds to join that statistic, so you can sleep tight at night knowing you have a financial safety net.

How much is “enough savings,” anyway? Good question. A good practice is setting aside around three months of household expenses. That’s a substantial amount that will cover most unexpected emergencies and protect you if you find yourself out of work for three months.

And lastly:

Tip #1: Pay Off Your Debts 
On the road to financial freedom, debt is your biggest roadblock. In fact, debt pushes you further away from financial security – and the longer you stay in debt, the deeper you get into trouble.

So if you’re in debt, it’s a good idea to use your tax refund money to pay those debts. The goal is to erase ALL your debt, or at least reduce it to a manageable level.

We advise you to pay off the debts with the highest interest first, then pay off the debts with lower interest rates. If you have the option, go for debt consolidation to lower the rates even further, simplifying your payments. 

These are our top three ways to use your tax refund to achieve financial freedom. Start paying off your debts, filling an emergency fund, and building a comfortable retirement, starting with your following tax refund.

About CreditRepairEnforcers.com
Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
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<![CDATA[Getting a Low Mortgage Rate]]>Tue, 01 Dec 2015 05:00:00 GMThttps://creditrepairenforcers.com/blog/getting-a-low-mortgage-rate
How to Get a Good Interest Rate on a Home Mortgage 
Are you planning to buy a new house and want to save money along the way?
Then here are some ways to get a good interest on your home mortgage and minimize the amount of money you'll shell out throughout the payment period.

Tip #1: Keep Your Job or Get Promoted
You're in good shape if you've been gainfully employed for the past two years. If you got promoted during that span, that's even better. Your application may be disapproved if your employment record is spotty or you demonstrate declining earnings.

It's even more challenging when you're self-employed. You'll be asked to present your income tax returns over the past two years and may even be required to accomplish IRS Form 4506, which will let them verify whether your ITRs are the same ones in the IRS's records.

Tip #2: Save Up Enough to Cover the 20% Down Payment
When you qualify for a mortgage, you have the option to pay a down payment as low as 5%, but this tends to hike the interest rate and increase the amount of money you'll shell out in the long run. To get the best interest rate for your situation, opt for a 20% down payment.

The reasoning is that a 5% down payment loan is considered high-risk, and they'll cover that risk by raising the interest rate accordingly. On the other hand, a higher down payment indicates stable earnings and money in the bank, so they can afford to give you a lower interest rate.

Another tip is that they expect you to have enough cash reserves to cover your mortgage payments for the next 60 days. These cash reserves can be in the form of savings and checking accounts, certificates of deposit, or money market funds. It does not typically include retirement funds – unless you're willing to pay additional taxes and penalties.

Tip #3: Keep Your Credit Score Up
In most cases, a credit score of 620 is the minimum required to take out a home loan – and it will likely get you a higher interest rate. On the other hand, you'll get the best interest rates when your credit score is at 760 and up. How well do you score?

Study your credit score, correct any errors, and work on bringing it up over the next several months. With professional credit repair help, you could raise your credit score by over 100 points in months.

Tip #4: Check If You Qualify For Special Programs
Special programs qualify you for lower interest rates on your home mortgage or allow you a smaller down payment with no additional interest. If you or your spouse is a war veteran, you can qualify for a Veterans Affairs loan, which offers protection when you fall behind on your payments.

Other programs benefit first-time home buyers, such as the Federal Housing Administration and the U.S. Department of Housing and Urban Development. And if you plan to buy a house in a rural area, the U.S. Department of Agriculture mortgage program will help you.

Do Your Homework Ahead of Time
Ideally, it would be best to study your home mortgage options two years in advance, giving you enough time to get your finances and the best deal possible.

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