Credit Restoration Process

Credit Restoration through BBC is a very affordable and unique service, one that makes your goals of restoring your credit a lot easier than if you were to attempt to do it your own. The credit bureaus have made it nearly impossible for the average person to effectively attain, interpret and correct anything in their credit profiles. Most people are under that the credit bureaus are a subsidiary of the government, but they are not. In fact, actual consumer protection laws have been put in place to hold them accountable for their credit reporting. To learn more, call us for a FREE consultation @1734.744.8690 to Start Gaining Financial Stability with Intelligence and Integrity!

Here is a Tip for Boosting Your Credit Scores and Improving Your Credit Health in 2019 You Should Limit your Credit Inquiries... * Looking for a new apartment? ** What about a mortgage? In either situation, try and group your applications together as much as possible. *** Applications for new lines of credit will generate a “hard pull“ on your credit, and having too many of them in a short period of time can lower your score. However, credit reporting agencies usually consider a group of applications within a short period of time as one pull, as long as they’re in the same category. Similarly, limit yourself to opening up no more than one or two credit cards per year, which also generate hard pulls. Even if you get a ton of offers in the mail for stellar sign-up bonuses, they’re likely to be offset by the damage to your credit. FICO reports that new credit and credit inquiries account for 10 percent of your total score. Knowledge is Power and Credit is King!

There are a few Tips for Boosting Your Credit Score in 2019

Take Care of Late Payments Before They Hit Your Credit Report... If you do happen to miss a payment, contact the card issuer immediately. If you have good history built up, the company may agree to not report your late payment. * Even if you can’t avoid a late-payment fee, be sure to get your account up to date as soon as possible so you can limit the damage. ** Your credit score is yours to own. It reflects your financial history and helps lenders predict how you will manage your finances in the future. Due to the lingering effects of credit, you don’t want to waste any time to improve your credit. Knowledge is Power and Credit is King!

Tips for Boosting Your Credit Score in 2019

Your credit score affects your financial life in many ways. Car insurance premiums and your interest rate on home and auto loans are determined, in part, by your credit report, and plenty of employers actually check it when deciding whether or not to hire a candidate for employment. With that in mind, it’s in your best interest to not only know your credit score, but to improve it.

I Wish I’d … Stayed Out of Credit Card Debt... It’s understandable that credit card debt makes you want to turn back the clock and snatch the plastic out of the hands of your younger self. Not only are you paying a sky-high interest rate, your credit is likely suffering, too. That’s because 30 percent of your credit score is influenced by your credit utilization – the percent of credit limits your using. * Carrying so much debt that you’re using more than 30 percent of your available credit is probably costing your points. The best way to cope with this regret is to work hard to eliminate the balance. Here are a few ideas for shaking your debt as fast as you possibly can: 1. Stop charging. Put your cards away, and switch to cash. 2. Cut unnecessary expenses from your budget to free up money for extra payments on your card. 3. Track your spending, and avoid temptations to break your budget. 4. Consider taking on extra work, and devote your surplus funds to debt payoff. 5. If you have debt on more than one card, pay off the card with the higher APR first; this way, you’ll save the most money on interest. 6. If your credit is good, consider a balance transfer, which could save you money on interest.

I Wish I’d … Stayed Out of Credit Card Debt... It’s understandable that credit card debt makes you want to turn back the clock and snatch the plastic out of the hands of your younger self. Not only are you paying a sky-high interest rate, your credit is likely suffering, too. That’s because 30 percent of your credit score is influenced by your credit utilization – the percent of credit limits your using. * Carrying so much debt that you’re using more than 30 percent of your available credit is probably costing your points. The best way to cope with this regret is to work hard to eliminate the balance. Here are a few ideas for shaking your debt as fast as you possibly can: 1. Stop charging. Put your cards away, and switch to cash. 2. Cut unnecessary expenses from your budget to free up money for extra payments on your card. 3. Track your spending, and avoid temptations to break your budget. 4. Consider taking on extra work, and devote your surplus funds to debt payoff. 5. If you have debt on more than one card, pay off the card with the higher APR first; this way, you’ll save the most money on interest. 6. If your credit is good, consider a balance transfer, which could save you money on interest. Knowledge is Power and Credit is King!

I Wish I’d … Opened a Credit Account Sooner... People who put off opening a credit account until they’re well into adulthood often find that it’s tough to get lenders to approve them. Although only 15 percent of your credit score comes from the length of your credit history, without a long and strong record of making on-time payments, many lenders aren’t willing to take a risk on a new borrower. To overcome this obstacle (and your intense regret), do what you can to start using credit right now. The easiest way to do this is with a credit card. There are some cards on the market that are fairly easy to qualify for even if your credit history is limited. If that route doesn’t work, consider a secured card. Since using this type of plastic involves tapping a credit line, you’ll be able to build good credit as you use your card responsibly. As a reminder, this means paying your balance on time and in full every month. Knowledge is Power and Credit is King! #NoMoreExcuses

I wish I’d … Paid My Bills on Time... Failing to pay your bills on time is a significant credit misstep. The largest portion of your credit score (35 percent) comes from your history with making on-time payments to your creditors. If you have a spotty record in this arena, your score might be in bad shape. Moreover, if you have accounts that have been sent to collections, this information could hang around on your credit report for years. Again, you can’t rewind time, and turn late payments in on time. The best way to move forward is to make a commitment to paying your bills by their due dates from here on out. Set up text or email alerts with your lenders, mark a calendar or set reminders on your phone – whatever works for you. Over time, the negative marks on your credit report from collections and late payments will be replaced by the positive information you’re creating. Knowledge is Power and Credit is King! #NoMoreExcuses

How to Make or Break Your Credit Score STEP 1: Keep your credit cards under 33%. Carrying a balance wont damage your score, it will if your debt utilization rate starts to climb above 50%. Pay your balance full every cycle if possible. STEP 2: Pay your bills on time. With any kind of credit obligation it's really critical to always pay on time, even if you can't pay in full. Late payments will hurt your score. STEP3: Use Different forms of credit. Holding a variety of lines:car, loan, installment loan, mortgage, store card; can improve your credit score, as long as you're mindful of the first two steps. STEP 4: Develop a history of credit. Maintaining responsible payment habits over time will increase your score. STEP 5: Don't Overburden your credit lines. Its best not to use more than half of any given credit line, and even better not to use more than one-third.

10 Things That Appear on Your Credit Report When you're reading your credit report for the first time, it can be overwhelming, especially if you've had a lot of accounts over a long period of time. Knowing what types of things appear on your credit report can make it much easier to read and understand. 8. Recent credit and loan applications Recent applications for credit will appear on your credit report in the inquiries section. These inquiries only remain on your credit report for 24 months.

10 Things That Appear on Your Credit Report When you're reading your credit report for the first time, it can be overwhelming, especially if you've had a lot of accounts over a long period of time. Knowing what types of things appear on your credit report can make it much easier to read and understand. 9. Collection accounts Unpaid debts that have been sent to a collection agency usually appear on your credit report. Even something as small as a $4 library fine could end up on your credit report if the library sends the account to collections. This is why it's important to take care of all your bills, even those that aren't regularly reported to the credit bureaus.

10 Things That Appear on Your Credit Report When you're reading your credit report for the first time, it can be overwhelming, especially if you've had a lot of accounts over a long period of time. Knowing what types of things appear on your credit report can make it much easier to read and understand. 10. Public records Public records include things like bankruptcy, repossessions, and foreclosures. These are all proceedings that have gone through the court system. They’ll also appear on your credit report for up to ten years for repossession and foreclosure, fourteen years for bankruptcy.

Carrying High Balances on 0% Interest Credit Cards The Action: The consumer carries a high debt load on 0% credit cards. Why It’s an Issue: If you’re planning on getting a mortgage in the near future, don’t let the short-term 0% credit card offer fool you into thinking it’s OK to run up debt on that card. Why? You’ll still need to make that payment every single month. It doesn’t matter if your balance is $100,000 at 0% interest, it’s about the payment, and the lower the payment, the better. A lender wants to see that the minimum payments are very low in relationship to the income. Payments are king for the granddaddy of credit, a mortgage loan. A consumer who has made of these common credit mistakes should consider speaking with a reputable mortgage loan officer. The loan officer can proactively walk them through the process of how to fix these credit blemishes, and take a preemptive approach in helping them qualify for home financing. It can also help to check your credit reports (which you can do for free once a year) and your credit scores to see what work you may need to do before you apply. You can obtain two of your credit scores for free on Credit.com, along with an overview of what’s affecting your scores. Knowledge is Power and Credit is King!

Maxing Out Credit Cards Can Affect Your Mortgage Process The Action: The consumer accumulates a balance in an excess of 50% of the total available credit on any credit card, credit line or even home equity line of credit. Why It’s an Issue: Maxed-out credit cards — especially accounts where the balance is equal to or over the total credit limit — are a red flag for lenders in the decision to approve your new mortgage. This situation also wreaks havoc on all three credit scores the mortgage lender looks at, especially if each account reports to each of the three major credit reporting agencies. A better way to manage a higher debt load is to spread the debt over multiple cards (if you have them), reducing the balance per card or consolidating the debts into one new account with a high credit limit. Consumers ought to not carry any more than 30% of the total allowable credit line at any given point in time if they want to maximize their credit score potential. Knowledge is Power and Credit is King!

f You Plan To Apply for a Mortgage soon, DON'T Start Disputing Credit Accounts The Action: The consumer has a disagreement with a particular creditor and takes action by disputing with the creditor a charge, balance, payment or any aspect of the credit obligation. The creditor then places the account in the dispute status, changing the credit reporting to “in dispute.” Why It’s an Issue: Mortgage lenders use what’s called an automated underwriting system, (AUS) for short, which is an algorithm that reviews a borrower’s total on-paper financial picture. The automated underwriting system used by lenders literally ignores any accounts in dispute. As such, the results of the automated underwriting system are flawed, because while the account is on the credit report, the algorithm ignores it because the account is in dispute. In other words, because it doesn’t provide an accurate rating of the true credit picture, the borrower would have to call the creditor and remove the account from dispute status, then the lender reruns the automated underwriting to ensure the loan gets approved in the system. If the loan does not get approved at this time, changes to the loan structure might have to be made, such as switching loan programs (from conventional to FHA, for example), reducing the loan amount or increasing the credit score. Knowledge is Power and Credit is King! #NoMoreExcuses

Applying for Credit During the Loan Process could Wreck Your Opportunity for a Mortgage

Applying for Credit During the Loan Process could Wreck Your Opportunity for a Mortgage The Action: The consumer applies for additional types of credit while they’re in the process of seeking final approval. Why It’s an Issue: Undisclosed debt could critically change any dynamic of the loan, and more importantly, could cause your loan to be denied. If your mortgage loan has not closed, taking out additional debt — even a credit card with a tiny limit — could change your credit score, which is material to your ability to qualify for the home mortgage. In addition, any associated debt with that balance, such as a monthly car payment, could easily drive up your debt-to-income ratio and jeopardize your loan approval. Knowing ahead of time what not to do can make all the difference. Knowledge is Power and Credit is King!

Why Choose the BCC Credit Restoration Services? BCC is proud to offer proactive and interactive customer service. In short, clients receive regular progress reports detailing the status of their credit file, including the number of dispute cycles completed and the number of deleted items. Our customer support team is on hand to personally answer any questions by phone or email, or clients may choose to access their account details on line any time of day or night. Let our professionals work for you. Enroll today in credit restoration and join the thousands of other clients who are enjoying the benefits of improved credit. * Money-back guarantee! * Exceptional A rating with the BBB * Outstanding deletion rate! * Monitor your file’s progress around the clock 24/7/365 * Member of NACSO (National Association of Credit Services Organizations) Call 1-800-442-1591; Start Gaining Financial Stability with Intelligence and Integrity!

Identify Outstanding Student Loans The first step for borrowers is to know what they've borrowed. Debtors can access all their federal loans by logging into the National Student Loan Data System. Keeping track of these loans can be harder than you think. Students could have eight federal loans (one for every semester) or more after graduating from college. Knowledge is Power and Credit is King!

Things To Know About your Student Loans For new college graduates who borrowed to help pay for their bachelor's degrees, the clock is ticking. These grads have six months before the federal government expects them to start repaying their students loans. Knowledge is Power and Credit is King!