Free Credit Report

Disclaimer: I always have a difficult choice on whether to report these loopholes because even if they may technically be legal, they certainly are an abuse of the intended law. I do not recommend that people participate on either side of this scheme to raise poor credit scores. That being said, it does exist and I try to pass along to people information of what is going on in all areas of personal finance.

There are a growing number of companies on the Internet that claim they have found the perfect loophole that allows them to boost the credit scores of those with bad credit without breaking the law. They are able to do this by exploiting a common way that children first gain a credit history - piggybacking upon someone (usually a parent) that has good credit by becoming an "authorized user" of the person with a good credit history.

Bad credit does not have to mean a higher mortgage rate

Having a poor credit rating does not always result in a higher mortgage rate according to research from London and Country Mortgages (L&C), fee-free mortgage broker.

So far this year, 71% of borrowers who have come to L&C with some credit problems have been able to get a mainstream mortgage deal.

Most high street mortgage lenders will not accept borrowers will a recent history of defaults or County Court Judgements (CCJs). However, it is not a simple case of black and white and some lenders are more lenient that others. L&C has found that many borrowers with only minor blemishes on their record are surprised to find themselves accepted by a mainstream lender.

James Cotton, Mortgage Specialist at L&C comments, “All too often, people assume that because they've had some credit problems in the past, they will have to pay a much higher interest rate and in some cases, high broker fees.

Bad Credit Home Loans Consumers With Bad Credit

There are hundreds if not thousands of websites on the internet enumerating the ways to apply and receive home loan when you are plagued with bad credit issues. These sites help consumers with bad credit scores to increase the viability of their existing credit scores and set up loans regardless of their credit history.

They explain what a credit report is and why it is so important.

The cruelest card

Pay down debt: The closer you are to the limits on accounts, the more it lowers your score. Get your available-credit-to-credit-used ratio under 50%.
Loan yourself money: Open a savings account and take a loan with the savings as collateral.
Keep older accounts: You need to show stability on your credit history, so keep accounts that have been established for more than three years.
Check your credit: By law, you're allowed one free copy of your credit report each year from each of the three credit bureaus.

Hip Hop's Mr. J Medeiros to Release Solo Debut

Of gods and girls finds Mr. J rekindling his chemistry with Procussions members Rez, who joins Strange Fruit on the Illmind (of G-Unit fame) produced "Change", and Stro the 89th Key, who produces "Strangers" and "Honest Man's Hustle." Long-time friend, Pigeon John assists on "Money" an anthem for those with checking account woes. Although complimented by top-notch guests, J carries the weight of this album on his own shoulders, delivering stimulating dialogue from track to track and showing a glimpse of humor amidst an honest and sober dose of reality. Mr. J comments, "a lot of these songs were written at a time when I was broke and when I felt truly alone. Of gods and girls stems from that. It's very personal."

Consumers to verify that their credit records are accurate

The regulations on data cleansing were published on the 30 November 2006 and lists information reflected on consumer credit records as at 1 September 2006, which must be removed from the credit bureaux records by 1 June 2007, says Peter Setou, senior manager: Education and Strategy at the National Credit Regulator.
The NCR as part of executing its mandate is launching a consumer education campaign focusing on the regulation of credit bureaux with a focus on the verification, review and removal of certain information from credit bureaux records in terms of section 73 of the National Credit Act. The campaign is scheduled to run for a period of six months.

The National Credit Act requires Credit Bureaux to remove information on a number of small debts and paid-up judgments by June 1st.

According to these regulations, the following consumer credit information must be removed:
- Adverse consumer credit information in respect of a debt of less than R500;
- All consumer credit information relating to accounts, excluding credit facilities and any accounts where there was no contractual requirement for monthly payment to be made, that have been dormant for a period of at least 24 months on 1 September 2006;
- Civil court judgment of up to R500 except if a consumer has more than two unpaid judgments;
- Civil court judgment of up to R5000 if the judgment is older than 18 months provided the consumer has not more than two unpaid judgments on his or her records;
- Civil court judgment of up to R50 000 if the full amount in respect of the judgment was paid by the consumer by 1 September 2006;
- Civil court judgment of up to R50 000 reflected on a consumer's records on 1 September 2006 if the full amount in respect of the judgment is paid by 1 September 2007.

Two ways how ending a credit card account can hurt your credit history

If you have many credit cards and are seriously into credit card debt, chances are good that you must be thinking of getting rid of few credit cards. The strange fact is that if you get rid of a credit card without giving thought to the points listed below, you could be shooting yourself in the foot. Yes, it could damage your credit history further. Here is how this happens.

First meeting awaits TFC, Red Bulls

Winners now of three of their last four in their suddenly impregnable BMO Field fortress, Toronto FC play host to the New York Red Bulls on Wednesday night. TFC is now in sixth place in the Eastern Conference, with three wins and a draw in their last five matches overall. The Red Bulls come off a loss last weekend in Kansas City which ended a two-game winning run - both by shutout. After allowing just four goals all season to that point, the Red Bulls were hit for three goals in K.C. - all from Eddie Johnson.

REFEREE: Tim Weyland. SAR (bench): Greg Barkey; JAR (opposite): Bill Dittmar; 4th: Silviu Petrescu
MLS Career: 67 games; FC/gm: 30.8; Y/gm: 3.6; R: 18; pens: 17
Games involving Toronto FC: first game
Games involving Red Bulls: P8 W3 L3 T2; FC/gm: 31.0; Y/gm: 3.8; R: 3; pens: 5

INJURY REPORT: TORONTO FC - OUT: DF Marco Reda (knee); MF Tyler Hemming (knee) ...