By: Rickert | April 02, 2017

Before you make any big decisions like hiring a debt settlement company to attempt to settle your debts, it’s important that you understand how it works, what you’re getting into, and the other options you may have. Debt settlement can have a big impact on your personal finances let’s talk about when debt settlement is a smart decision and when perhaps it’s not.

How Debt Settlement Works

The first thing to understand is that debt settlement will generally only work on unsecured debt such as credit cards and other bills that have gone into collections. If you’re behind on your mortgage or car loan, you’re not going to be able to settle because a car can be repossessed and a house can be foreclosed on. Debt settlement also will not work wi...

Category: creditors 

Tags: Settle Debt 

By: Rickert | March 12, 2017

Bill collectors hounding you? Considering repaying or negotiating an old debt? The statute of limitations on bills, often referred to as tolling of time is a powerful tool for consumers. The SOL can thwart off lawsuits and collectors when attempting to collect or sue on dusty old debts.

If a debt is legally expired, you can escape being sued or having to pay it back. Likewise, it can be detrimental because many debtors unwillingly renew the SOL by making a partial payment or a written promise to pay which extends the statute.

The statute of limitations is a civil code. Each state has its own statute, For instance, the code section in Cal. Code of Civil Procedure § 337.

The legal meaning for statute of limitations is: THE TIME OF COMMENCING ...

By: Rickert | March 12, 2017

“In order to pay less for basic services and be eligible for any type of financing or line of credit you need, it is important to maintain excellent credit ratings. As the economy is still shaky, lenders are tightening their standards and more industries are relying on credit scores before making any kind of financial decisions. Consumers continue to struggle with their credit profiles because it hard to keep getting the ends to meet. This means more bills are paid late or missed entirely, causing credit scores to decrease.

Every consumer has it in their power to repair their own credit. There is not necessarily a need to involve a third-party agency in order to improve one’s credit score. But because personal finance issues are often percei...

Category: Uncategorized 


By: Rickert | March 01, 2017

How lenders use FICO Scores

90% of top U.S. lenders use FICO® Scores when making lending decisions

When you apply for credit—whether it's for a credit card, car loan, mortgage or other type of credit—lenders will want to know your credit risk. That is, they'll want to know how likely you are to pay back your credit obligations as agreed. To help them understand your credit risk, lenders use FICO Scores.

FICO Scores help lenders quickly, consistently and objectively evaluate potential borrowers' credit risk. So when you apply for credit or a loan, there’s a very good chance your lender will use your FICO Scores to help them decide whether to approve you, and what terms and rates you qualify for.

Different lenders use different versions of FICO®Scores

You have more tha...

Category: FICO Scores 

Tags: FICO Scores, Lenders 

By: Rickert | March 01, 2017

Payment History Tips

Contributing 35% to a FICO Score calculation, this category has the greatest effect on improving your scores, but past problems like missed or late payments are not easily fixed.

  • Pay your bills on time.
    Delinquent payments, even if only a few days late, and collections can have a major negative impact on your FICO Scores.
  • If you have missed payments, get current and stay current.
    The longer you pay your bills on time after being late, the more your FICO Scores should increase. Older credit problems count for less, so poor credit performance won't haunt you forever. The impact of past credit problems on your FICO Scores fades as time passes and as recent good payment patterns show up on your credit report. And good FICO ...