Bad Credit Loans - Identity theft

• Identity theft can happen anytime, anywhere and to anyone, individuals or businesses. Everyone must be educated and aware so it can be avoided. Most identity theft involves the U.S. Mail which is why the U.S. Postal Inspection Service is a lead agency in investigating Identity Theft. Identity Theft is a criminal offense.
  
  How can I prevent Identity theft from happening to me? Never leave your receipt or slip in the ATM or gas pump. Pay attention to your habits, lock up or organize and file your bills, and bank statements. Shred them using a cross shredder before throwing them away.
  
  In a recent article in MSN Money their research showed that 32% of people said they had been a victim of identity fraud by a friend or family, and 13% were victimized by a co-worker. Beware! These people know your patterns and habits.
  
  Some steps you can take to avoid becoming a victim of Identity theft are:
  
  Get a copy of your credit report from all three credit bureaus. (FREE as of 9/1/05!)
  
  Experian, PO Box 2002, Allen TX 75013 www.experian.com 888-397-3742
  Equifax, PO Box 740241, Atlanta, GA 30348 www.equifax.com 800-685-1111
  Trans Union, PO Box 4000, Chester, PA 19016 www.transunion.com 866-887-2673
  
• Opt out of mailing lists by contacting the credit bureaus above.
• Opt out by reading the privacy notice that comes with your credit card and following the instructions.
• Call the national Do Not Call Registry at 1-888-382-1222 or visit www.donotcall.gov be sure to call from the number you want to register
• Do not carry your Social Security Card in your wallet
• Do not print your Social security number on your checks
• Do not get your social security number printed on your drivers’ license
• Do not carry your Medicade card with you, Medicade #’s are your Social security number
• Delete any emails from Nigeria, or lottery or prize notifications before opening
  Stop credit card offers 888-5-OPT-OUT
• Remove your name from national mailing lists by visiting www.the-dma.org or write to:
  Mail Preference Service, PO Box 643. Carmel, NY 10512
• Install firewall and virus protection software on your computer
• Password protect your computer and private personal files
• Format your hard drive or physically destroy when disposing of your old computer
• When you order new checks, get your first initial printed on them instead of your first name
• Use a cross shredder to shred your bills and bank statements or any junk mail
• Bring your mail to the post office or secure mail box rather than leaving it in a rural box.
• Use only one designated credit card for online purchases
• Be sure all online purchases are made through a secure server – notice the “lock” icon and how the URL address changes from http to https. The S means SECURE.
• Do not carry your PIN # in your wallet
• Do not use your date of birth as a password or PIN.
• Do not give out personal or financial information over the phone.
• Grind up or shred back up CD’s you are throwing away.
• Check your online banking account at least 3 times a week and change your password often.
  
  If you feel you have been a victim of identity fraud, contact the Department of Justice, consumer protection division. They offer mediation with identity theft; they also have a hot line for consumers that is available 8-5 Monday – Friday. They maintain a database of written complaints that goes back to 1998. They offer seminars to school, seniors or your group.
  
  Be aware that 40 million crooks obtained credit card numbers this past year, “Be Suspicious”. Also be aware that most identify theft is not reported, especially when it involves family members, so the statistics are off. These statistics show that consumers lost $5 billion last year when in actuality it is closer to $50 billion. There have been an estimated 9.9 million victims in America.
  
  Michelle Dunn has over 17 years experience in credit and debt collection. She is the founder of Never Dunn Publishing, LLC, is a writer, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter. Michelle started M.A.D. Collection Agency and ran is successfully for 7 years. She owns and runs Credit & Collections.com a free online community for credit and business professionals.
  
  She has written 5 books in her Collecting Money Series and is currently writing a book for the Streetwise Series, part of the Adams Media Corporation. For more information on Michelle’s services or to order any of her books please email her at michelle@michelledunn.com or visit www.michelledunn.com & www.credit-and-collections.com

Bad Credit Loans:Credit Help for Real Estate Financing: Credit Scores

Credit Help for Real Estate Financing: Credit Scores

When you buy real estate, lenders run all of the "big three" credit bureau reports. Each credit reporting agency lists your credit history as supplied to them by the individual lenders and includes governmental records. Each report assigns a credit score number to you. The credit scores reflect your theoretical risk of default to the lending institutions.

Software developed by Fair Isaac and Company generates your "FICO score." Experian uses a system called Fair Isaac Risk Model, a computer program which rates you with a score according to Experian’s information. Equifax bases scores on BEACON programs and TransUnion bases scores on EMPIRICA models.

Your Baseline

You have three credit scores, often called FICO scores, one from each credit bureau. The lender takes the middle score as your baseline. Lenders have different standards, but generally a "C" score is around 500 to 600, a "B" is around 600 to 680, and an "A-" is above 680. Over 700 is the magical number that gets you the attention you desire. If your score is under 500, find someone to privately finance for you or a partner with good credit while you work on improving your score.

How Lenders Rate You

Credit score Available mortgage financing
720 - 800 Superb! You get what you want
700 - 719 Wonderful! You get top rates & terms
680 - 699 Good! You get good rates & terms
660 - 679 All right. You pay higher costs & rates
640 - 659 Okay score if good income
620 - 639 Weak. You need good income & some money
600 - 619 Poor. Use creative loan broker & pay more loan costs
580 - 599 Almost impossible without large down payment
Under 580 Work on fixing credit without delay

What Does Not Count In Your Credit Score

The scoring model doesn't compute:

Age & gender
Race
Whether you own a home or rent
Length of time at your current address
Job or length of employment at your job
Income
Education
Marital status
Whether or not you've been turned down for credit.

Real estate lenders don't just consider your credit score when you apply for mortgage financing. Understanding your credit score helps you with this one part of your mortgage requirements.

(c) Copyright 2005 Jeanette J. Fisher. All rights reserved.

Professor Jeanette Fisher, author of "Credit Help! Get the Credit You Need to Buy Real Estate," "Doghouse to Dollhouse for Dollars," and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, and newsletters, see http://www.recredithelp.com/

Bad Credit Loans:Free Credit Reports: From The 3 Major Credit Bureau's!

Get your credit report online for FREE. Many financial advisors suggest that you periodically review your credit report for inaccuracies or omissions.This could be especially important if you're considering making a major purchase, such as buying a home. Checking in advance on the accuracy of information in your credit file could speed the credit-granting process, clean credit is a must. more...


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