Fix Your Credit Report TodayI Got Bad Credit Removed! I Raised My Score Over 200 Points!

(Especially if youre not getting a bonus this year)

When you’re working towards complete credit repair, one thing that’ll make the journey easier is learning how to stretch your purse strings as far as they’ll go.  Finding debt relief is an important part of credit repair, and nothing can help you achieve that better than learning how to get the most out of your limited budget.

The following are a few tips to help you make the most of your money when attempting credit repair:

Start using your credit cards

Not as your main source of spending, but more as a back-up.  Evalu

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The Real Estate Settlement Procedures Act commonly known as RESPA, and passed into law in 1974, was designed to protect mortgage consumers, i.e. homebuyers and sellers, in the transactions of real estate. Our Boston bankruptcy clients frequently ask about how the foreclosures on their Boston homes could, or should, proceed. Sometimes they report that the foreclosures are being transacted improperly. In two noteworthy cases, one in Florida and one in Pennsylvania, consumers effectively “foreclosed” on their banks, using RESPA rules.

The Florida case took place in Collier County, Florida. A couple bought a house, for cash, from Bank of America, based in North Carolina.

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Say you’re in the market for a new car.  That old ’91 Oldsmobile isn’t quite cutting it like it used to, and it’s time to trade up, so you decide to spend a weekend out cruising the car lots for a new set of wheels (and maybe some sweeter rims to go with it).  Eventually, you find a car with just such a set of rims, and off you go to sign those papers.

Until the dealer turns you down on account of your poor credit history.  Suddenly, you find you’ll need to polish up your credit history before you can polish those rims, so in an attempt at credit repair, you order a copy of your report to try and see what exactly is holding you back.

Here’s what to look for when your credit history arrives.

Fatal error detected

The first thing you’ll want to do upon receipt of your credit report is verify the personal information they have listed for you on record.  Make sure you are who they say you are.  If any of your personal information such as your name or social security number, are incorrect, inform the reporting credit bureaus of the error and request it be fixed immediately.

These kinds of errors on your credit report can account for some of your bad credit history if the name or SS# listed are someone else’s with a bad credit history (conversely, they could be helping your score if that other mystery person with a similar name to yours has a good history, but that’s not usually the case, and you don’t really want to be sharing your credit report with someone else anyway).

Do these look accurate to you?

Next, you’ll want to verify your account history and make sure that information listed there is accurate as well.  Check your payment histories, and make sure they list their statuses correctly – whether or not you’re current on the account and if you’ve ever been late.  If any accounts are reporting incorrectly, get in contact with the agency reporting the wrong information (each credit bureau may report different information on different accounts, so you’ll want to look at all 3 reports when reviewing your credit history), and ask that they have their records updated with the correct info.  Having negative errors cleaned off your report will bring you one step closer to the perfect set of rims, and the car to go with them.

Will the real you please stand up?

Finally, and most importantly, check your credit report for any signs of identity theft, such as accounts that aren’t yours at all or credit inquiries from creditors you never contacted.  If you find anything here that looks suspiciously out of place, include it in your dispute to the credit bureaus and demand they take immediate action to remove the account(s).

Also, if you have a high number of credit inquiries on your report that go back over 2-3 years, ask that they have those cleaned off as well.  Having too many inquiries on your report can drop your score by a few points, depending on how recent they are, and having them removed will only increase your chances of getting a favorable response from creditors and lenders when you go back looking for good deals.

Boston bankruptcy clients have been asking us about applying for credit cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit Card Act of 2009). One “new” aspect of The Card Act, which goes into effect in October, 2011, is regulation regarding consumers who don’t have their own income. In fact, a new ruling by the Federal Reserve forbids banks and credit card issuers from issuing credit cards to folks by using “household” rather than personal, income. Household income is too vague, they say. This may adversely affect clients who have filed for a Massachusetts bankruptcy in that it will make it harder to get credit after the bankruptcy discharge.

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So you’ve ordered a copy of your credit report to check up on your history because you’re thinking about opening a new line of credit and want to check that your credit is up to par.  The report arrives and, much to your dismay, things aren’t quite as peachy as you’d hoped they would be.  Late payments, a collection notice, and even a judgment on your public record round out a list of bad history in your credit file that needs to be dealt with ASAP if you want that new line of credit.

But you don’t know the first thing about repairing your credit, nor do you know how to even contest some of the information you’re seeing on file .  Your next step, then, is to check out some of those credit repair services you’ve see online.  But how do you tell which company is legitimately interested in helping you fix your bad credit, and which is just interested in stringing you along for a few months while they bleed your bank account dry?  Follow these tips for spotting the difference between a real credit repair company, and a scam.     Pay a

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Not likely. However, in a ruling last month by the U.S. Circuit Court of Appeals for the Eighth Circuit, a decision came down that may affect how homestead law evolves. The ruling expanded the notion of what is exempt under the homestead law to include personal property. How will Massachusetts bankruptcy law be impacted? What are Boston bankruptcy lawyers advising about the Massachusetts Homestead Act? This is what we explore in our blog http://www.bostonbankruptcylawyerblog.com/ today.

Let’s look at the North Dakota case first. The U.S. Bankruptcy Code allows each state to have its own homestead limit.

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Allegations that California foreclosure auctions and tax deed sales are being manipulated have surfaced and the FBI is reportedly conducting an investigation. Rumors are circulating that speculators are rigging the bids at the auctions by paying some bidders to not make offers. This results in the auctioned property selling for a lower price. The auctions allow buyers to purchase properties at prices below market value. 

Reportedly, federal investigators have issued warrants in connection with the claims, citing possible instances of anti-competitive activities. If the California foreclosure auctions are found to be rigged, those participating can be charged with violation of the Sherman Antitrust Act.

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