<![CDATA[The Credit Clinic - Blog]]>Sun, 09 Aug 2020 15:41:13 -0700Weebly<![CDATA[COVID 19 & Your Credit Report]]>Sat, 08 Aug 2020 22:31:57 GMThttps://acreditclinic.com/blog/covid-19-your-credit-reportYour credit and COVID 19.
What a crazy title right?  Well it's a crazy time right now and believe it or not there is a direct correlation between the two.  There have been many different "topics and actions" introduced during this pandemic.  Programs like the CARES Act and the PPP have been rolled out designed to help people and the country in this unprecedented time of need. 
Additionally, as a part of some of these programs, there have been moratoriums put in place allowing people to temporarily stop paying their rent and mortgages without the worry of being evicted or foreclosed on.  Further, there have even been actions put into place allowing the stoppage of payments on student loans, car loans and even credit cards.
All of theses recent actions may help countless numbers of people and at the same time may infuriate countless others depending on their individual situation.  As a result, many spin-off questions and discussions have arisen.  When do people have to start making their payments again?  Do people have to pay back the payments that they missed?  If so, when?  Do the missed payments have to be made in one lump sum?  What if people can't afford to pay off the balances in a lump sum?
These are all very valid and for a lot of people, very scary questions but the one question that hasn't really been asked is, "What is going to happen to my credit report and credit score while I am missing these payments"?  
So here we are, people actually have true acknowledgment and essentially "permission" from their creditors to skip these payments, but how will this affect their credit scores and thus their financial future? Are these people ruined?
The short but not so simple answer to this question is no.  Theoretically, a consumer should be safe from negative reporting due to COVID caused financial losses.  New legislation has been proposed and put in place such as "The Disaster Protection For Workers’ Credit Act"  The act proposes that, "an immediate four-month moratorium on all negative credit reporting and longer protections for people who face lasting financial hardship from the outbreak".  Further, "The bill will also provide free, unlimited credit reports and credit scores for a year
from the end of the crisis".

While these types of new legislation should help put people's mind at ease a little, we say . . . Be aware and be on the lookout!  We have found that the credit bureaus and creditors are not always following the rules when it comes to some people's credit report and these new moratoriums. 

At this point you may be finding yourself asking, "Now what"?  "How do I know if this is happening to me and can I even do anything about it"?  The good news is yes, there is definitely something that can be done about it.  You should be regularly checking your credit report as a habit anyway, but during times like this it is more important than ever.  So get a copy of your credit report and start searching it account by account, line by line.  Do you see something that looks out of place?  Do you see something that you don't recognize?  If you do, you need to gather all of your supporting documents and go on the attack against the credit bureaus and your creditors.  A good defense is a great offense!  You need to defend your credit report and make sure it is all accurate.

If this all sounds overwhelming, then reach out to us for help.  That is what we do and we have been doing it for over 25 years.  We are the best, #1 in the nation as it were!  You may be asking yourself, "What if the event actually happened and I did harm my own credit"?  That's ok, we can help with that too.  We never charge for helping obtain a new credit report, reviewing it and offering advice.


For FREE help getting a FREE credit report and having it reviewed for FREE and also getting lots of FREE advice, call us today    (480) 557-7400 or visit us at ACreditClinic.com 


The Credit Clinic - Est. 1993
Helping Our Community for Over 25 Years
60 E. Rio Salado Pkwy #900
Tempe, AZ 85281
(480) 557-7400
ACreditClinic.com
Doc@ACreditClinic.com

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<![CDATA[Free Advice From the Best Credit Repair Company in Arizona]]>Mon, 27 Apr 2020 20:34:50 GMThttps://acreditclinic.com/blog/free-advice-from-the-best-credit-repair-company-in-arizona​You might be asking yourself, “Why is important to fix my credit file”? The answer is just as obvious as it seems. Do you ever plan on buying a house, a car, a boat? What about getting a new job, lower insurance rates, or even a credit card so you can rent a car or stay at a hotel? If you answered yes to any of those questions, then you are going to have to have good credit.

In this post we are going to provide the top 5 quick ways to fix your credit score and how to do it without the help of one of those Arizona credit repair companies. Think of our list as your very own “Credit Repair Kit” teaching you how to restore your credit fast.

1) Without a doubt the easiest way to fix your credit yourself free is to start paying all of your bills on time. It’s that simple! About 1/3 of your credit score is calculated based on timely payments. So if you have been late in the past, stop doing that!
2) Another very simple things that a quality credit repair company does is looking for mistakes. You can do this yourself and for free! Take a look at your credit report from credit reporting services online. Is there anything that you don’t recognize?
3) If any mistakes are found, the next thing that credit correction companies do is dispute all of that wrong information with the credit bureaus. You can do that too and for free! Get their addresses online and write them a letter explaining that you have found things on your credit report that don’t belong there. Be polite but demand that the incorrect information gets deleted.
4) Pay off your debt! A very common thing companies that help fix your credit instruct their customers to do, is start paying off those big balances just sitting on credit cards. Just like on time payments, about 1/3 of your credit score is calculated based on how much debt you are carrying. Are those credit cards maxed out? Get them paid down!
5) The last item on our list of ways to repair your credit for free, is permission. Take a look at all of the credit inquiries on your credit report. Do you recognize them? Did you give permission to those companies to pull your credit? Credit removal companies will always send out verification request letters to the credit bureaus asking for proof that permission was granted before the credit was pulled. You can do the same thing. Again, politely but firmly demand that proof be sent to you. If they are unable or unwilling to provide proof then request that all of those credit inquiries be removed from your report.

That’s it! It’s that simple! If you are tired of saying, “I need to fix my credit score”, then start by following these 5 simple tips and watch your credit score soar!]]>