Netcredit

Keeping a Cool Head to Protect Your Credit : Buying or Refinancing? Get a second opinion! If somebody tells you rates are rising to get you to sign on the dotted line--chances are they are pressuring you to sign. Rates have consistently risen and fallen (as they do) from 1/8th to half a percentage point during all the 'talk' of rises. Funny how they don't report drops! You can still get decent Fixed Rates that beat the Adjustables which may better suit your needs. Avoid predatory lending practices by investing time to find out if the loan you are applying for is the loan you get! For more on that subject visit the Washington State Department of Finance and Industry site: http://dfi.wa.gov/consumers/predlendwp.htm Check out your Lender : Ask a few leading questions and note how that person responds to your needs. If they are selling rates before they hear about you and your goals....exit stage left! You need to feel the person working with you has more than one answer an...

Co Borrower Strategy to Build FICO Scores Are you always listed as the second qualifying party on loans and credit cards and your spouse as the Borrower? Banks consider the 'primary wage earner' in 1st position for repayment resonsibility due to the income imbalance in most households. In some cases, the spouse is not reported to the credit atencies. You may need credit separately from your spouse. Now, many of us know the Co Borrower is often the one at home paying the bills--so if anything we would like to credit you for making your beloved Borrower look good. However, the FICO system has ways of noting which person is the primary applicant or joint user of an account. Legally the banking industry does not discriminate on race, sex, age, etc. Below are a few pointers on enhancing your FICO score and building your credit: Buy a Car in Your Name Even if you will both drive a car, and the money may come from a joint account...by taking out the loan in your name you are building...

Bankruptcy Law REQUIRES Government - Approved Credit Counseling Prior to Filing! If you are considering filing for bankruptcy, you must now receive Government Approved Credit Counseling within six months before you file. Individual States list government-approved credit counseling firms at www.usdoj.gov/ust After Hurricane Katrina, credit counseling requirement for consumers who are filing for bankruptcy in Louisiana and the Southern District of Mississippi have been temporarily waived. How Counseling Works and What it Costs Credit counseling organizations advise consumers on how to develop a budget to manage money and debts and often offer free educational materials and workshops. The counseling may take place in person, online or by phone. Sessions usually last 90 minutes and must include an analysis. Some counseling firms charge for this service (usually around $50). Anyone who cannot afford to pay may ask to have the fee waived. If after counseling, you are still intending ...

How Do You Build Good Credit? Most people start building their credit history over a period of time as a natural progression into adulthood. However, not everyone likes the idea of owing money. The object is to demonstrate that you can handle your financial responsibilties. The system notes consistent behavior, so don't make any sudden moves. Apply for a small credit card with your bank or credit union and pay it on time every month. Leave a little balance on the card ($5-$10) to keep it 'active' in the FICO scoring system. If you bank says no, then first establish a savings account and then ask for a card or line of credit for the amount you have in your savings. Avoid those offers in the mail that say you are pre-approved. Many of these cards are hooks wtih low entry rates and escalating fees. Instead approach your bank or credit union about a small starter card to build your history. Keep your balances low on your revolving card accounts. The trick with credit cards is...