Don’t let your credit keep you in bondage. You are more than your credit score. Do not let a three digit number stop you from realizing you financial dream. This is an open forum where we invite listeners to call in with their questions. http://www.blogtalkradio.com/victoriafinch

Tags: budget, business, collections, credit, Credit Education, Credit Scoring, credit tip, debt collection, Fair Credit Reporting Act, finance, money, Money Tips, savings

Past delinquencies make up 35% of your credit score. Obviously paying your bills in full and on time will have the greatest positive affect on your credit score. The credit scoring model looks at the level of delinquency. For example a judgment will have a greater negative impact on your score than a collection. Always try to avoid  public records such as bankruptcy, tax liens, and judgments.

Also, activity in the last 24 months has the greatest affect on your score. When looking a credit repair strategies concentrate on activity in the last 24 months first. Pay off collections in Escrow NOT before. By paying an old collection you will make it new again because the date of last activity will change.

If you would like to learn more about credit scoring  and how past delinquencies affect your credit score, please contact us at info@intcredit.net.

Tags: banking, budget, collections, credit, Credit Education, Credit Scoring, credit tip, debt collection, Fair Credit Reporting Act, finance, money, Money Tips, savings

There is a lot of misinformation out there about what a credit score really is.  Simply put – a credit score is a 3 digit number that seeks to quantify how likely a borrower is going to be 90 days late on a payment. Why 90 days? At 90 days, lenders spend more to maintain the account. Calls increase, increased notices go out, the lender may turn the file over to another department or collection company.

Each score is specific to each bureau.  The score is generated by analyzing the information in the consumer’s credit report at  THAT particular point in time. The higher the score the less the odds of default. For instance statistically, a consumer with a credit score of 800 and above has a 1292 t0 1  chance of becoming 90 days late while a consumer with a credit score between 620 to 659 has a 38 to 1 chance of being 90 days late.

Your credit score is more important than ever. When it comes to credit what you do not know can cost you big. Stay tuned for more Credit 101.

Tags: finance, Real estate

Victoria Finch will share  her expertise in credit at the U3 Westside Powerhour event. Learn  important aspects of credit scoring.  Learn how to transform credit from good to great!

Tags: business, credit, Credit Education, Credit Scoring, credit tip, Fair Credit Reporting Act, finance