This has probably got you thinking whether or not you can weave in your rental history to your credit score. So, if you are asking the question “Can I add rental history to my credit report?” the answer is yes.

Well, actually, you would not be the person adding it to your credit score. When you ask “Can I add rental history to my credit report?” it would actually be the landlord that adds the rental payment history to the credit score.

That means you would have to ask them to do this for you. Don’t worry. It is not a difficult process at all. Your landlord could probably do it in a few minutes.

When you wonder if you can add rental history to your credit report, you are probably wondering why the landlord did not do it in the first place. Generally, landlords will not report anything to a credit agency unless you have a lease or other agreement and default on it.

This is for two reasons, 1) it costs them money to report and 2) they often work with a skeleton staff therefore have not the time to make regular reports.

When you are simply making your ‘standard’ payments of your rent, there is generally no reporting made to the credit agency. This can prove to be a negative of sorts to those that do pay their rent on time. Their record of honest and timely payments is omitted which is certainly not helpful to a credit report.

Again, this is not a problem. If you are wondering “Can I add rental history to my credit report,” all you need to do is ask your landlord to furnish a letter detailing the timely payments to the credit bureau. A simple, basic letter that conveys this info is all that is needed.

The letter should also include a payment history as well. Perhaps you could even type the info up and have the landlord sign it and then send it out in the mail. Yes, it is pretty much a simple process and it certainly can be helpful.

You should always send copies to the bureaus not originals.

Side note: Bureaus are not required to add information you send to them and if they oblige, you may be charged a fee. No free lunch.

If you have been paying your rent on time for five years, it would definitely not hurt to have such info made available. Anything that reflects a positive payment history is one that should be reflected on a credit score.

And when it comes to rental, this does mean anything you rent. It need not just be a house or apartment. Do you rent storage or garage space? If you do and you have been making timely payments, it would not hurt to have the info reported on a credit score. Again, when the info helps, why not have it added to the mix?

Need to restore credit and improve your credit score fast? Find out what banks, credit bureaus, collection agencies and creditors don’t want you to know! Check out: Credit Repair Programs now.

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Such services are certainly growing in popularity. This is a good thing because, for many people, debt consolidation is the only way they are able to get back on decent financial footing.

When you have a great many monthly credit card bills to pay, you will find it very difficult to get out of debt. It can be very tough to stay on top of your budget when you have to make several monthly minimum payments.

This, of course, brings up another problem. When all you do is pay the minimum, you can never get to the bottom of paying off your debt. Minimum payments often cover interest and virtually never get to the principle. Needless to say, that is not a plus for those looking to get out of debt.

Debt consolidation for people with bad credit opens the door for those seeking a way of gaining a consolidation deal. With bad credit, it is pretty difficult to get a traditional consolidation loan. By exploring options with a debt consolidation service, a solution can be arrived at.

Debt consolidation for people with bad credit is not a loan as much as it is a financial arrangement with a third party. The consolidation service can negotiate lower interest rates and, possibly, a settlement offer on the sum owed. From this, monthly payments would be made to the consolidation service which would forward a portion of the payment to the debtors.

Again, those that have bad credit will have limited options. Or, at least that was the case in the past. The advent of consolidation services have opened the door for those with bad credit to have options available for them to explore. Consolidating debts through such a service most definitely opens the door for reversing a number of poor financial problems. While this will not happen overnight, it can happen when the proper effort is put into the process.

Once you have signed on with a debt consolidation service, you can increase your monthly liquidity. This can allow you to take various steps in which to get your overall finances in order.

Without options for debt consolidation for people with bad credit, a bad situation may end up not changing. Such a status quo is not what people would want when under financial stress. Finding a way out of the problem is necessary and a debt consolidation service may offer such an option.

Obviously, you would want to stick with a debt consolidation service that has a good name in the field. A service without a solid reputation could be a scam and scams are best avoided.

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Well, to begin with, let’s first reveal to you one secret; there actually are no credit secrets. Sorry, I didn’t mean to burst your bubble; it’s for your own good. Please read on.

You see, scam credit repair companies want you to believe that there is some big credit secret that only they know, just to get your money. What there really are, are what are better called open secrets. That is, secrets that you can discover yourself given the right information source.

And yes, they can also be loosely called credit repair secrets because not many people know about them.

There is yet another reason they can be called “credit secrets”. Banks, credit bureaus, debt collectors and others who stand to make more money out of your lack of knowledge don’t want to keep it that way. Knowledge is power, and they want to keep you powerless. Why?

When more people get charged higher interest rates due to low or mediocre credit scores, it’s not hard to guess who stands to gain.

When a debt collection agency buys an old “uncollectable” debt for pennies on the dollar and then harasses the debtor into paying off… well, it’s easy to see why lack of knowledge on the consumer’s part is money in the bank for the collector.

Now let’s take a look at some of these open credit repair secrets:

1. Credit reporting statute of limitations (SOL): There is a seven year statute of limitations on reporting bad credit notations for bad closed accounts, collections and public records. Bankruptcies can stay up to ten years and tax liens can stay up to seven years from the date paid. However collection agencies can trick you into acknowledging an old debt, which restarts the SOL. There also are some unscrupulous collection agencies that give old accounts new names and numbers and then report them as new. When an account is nearing its SOL you can offer a fraction of the amount owed and demand a deletion from your credit report. However be careful with your words lest you restart the SOL.

2. State SOL: There is a period outside of which a debtor or collector cannot take you to court for an outstanding debt. This differs from state to state, so check your state’s stipulation. If the SOL in your state has expired, you can use this as leverage to get the reporting party to delete the negative notation on paying a fraction of the full amount. Again, you should be careful with what words you use lest you restart the SOL.

3. The FCRA and FDCPA: The Fair Credit Reporting Act (FCRA) is the law that governs how your credit is reported. The words are “fair and accurate”. Though the requirements of this law are not hard for the bureaus to meet, errors and omissions happen all too often. You can use these to get derogatory information reported. The Fair Debt Collection Practices Act (FDCPA) governs what debt collectors can or cannot do. Again, the “secret” is to knowledge and learning to use that knowledge to your advantage. You can stop the collection agency dead in its tracks by demanding validation of the debt. Once more, the language you use matters or it can backfire in your face.

Now discover ways to build or restore your credit. What banks, debt collectors and credit reporting bureaus wish you will never know! Check out: Credit Repair Programs today.

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Understanding a few ways in which to improve a credit rating can definitely help you get your financial situation in order.

Consolidating your bills may prove helpful. When you take out a consolidation loan, you can pay off higher interest rate credit cards. Then, with the lower interest rate, the consolidation loan can prove to be much easier to pay off over time. That alone is a great step forward in answering how to fix your credit report.

Some may wonder what happens when their score is too low to procure an unsecured loan. The solution may come in the form of taking out a home equity loan. Since such a loan is backed by the home, it is much easier to be approved for.

And, because such a loan is a secured one, it is not as difficult to be approved for. Just be sure to avoid running up debt again since you could lose your home if you default on a home equity loan. That certainly would not be a good step when wondering how to fix your credit report.

Those that do not own their own home may find themselves in a quandary. What can they do to consolidate debt if they lack equity? There are debt consolidation services that, while not lenders, can present a means of consolidating payments through them.

Often, they can negotiate with your lenders in order to arrive at a better and more substantial payment plan. This way, you can get out of debt quicker. Obviously, this would a great step in how to fix your credit report.

One thing to be wary about when dealing with debt consolidation services, you need to be sure you are not working with a scam company. Companies that are less than honest in their services can end up getting you into even more trouble. Stick with the reliable and legitimate companies in the industry. Such advice will go a long ways when seeking ways to fix your credit report.

And whatever you do, never get into the habit of missing payments. When you are late on payments or miss them, you will discover that it is next to impossible to fix your credit score. So, be a responsible payer. Make all payments timely and without missing any. This will help in developing a positive credit report.

Avoiding excessive borrowing is something else that you will need to do. It is next to impossible to improve a credit score when you are always adding to your debt. Curtail your borrowing and you will discover you are more successful in developing a positive credit score.

Now find out what banks, credit bureaus and debt collectors don’t want you to know. Check out Credit Repair Programs today.

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Well the answer to that question is simple. You actually cannot fix a credit score. Confused? Don’t be. I’ll explain shortly.

You see, your credit score is tied to the information on your credit file, also known as your credit report. Needless to say, if your credit file sucks, your score will suck. Conversely, if your report is good, your score will be good or even great.

Now you see why you can’t actually fix your credit score: you can only raise or lower it depending on what is on your credit report. So, the first thing is to tackle your credit report. This means getting rid of negative information and adding as much positive information as possible.

If you have not already done so, you should get your credit report from each of the 3 major credit reporting bureaus. You are entitled to a free credit report from each bureau each year, but it is better to leave this for you monitoring purposes and instead purchase your reports.

Each report will cost you approximately $10 (at last check) give or take a dollar or two.

Caution: You can purchase your credit file(s) online but if your purpose is to fix bad credit don’t do this as you will have to “agree” to certain conditions. Instead purchase your reports by mail using a check or money order.

Since our main objective is to “fix” your credit score, you will also need to purchase your credit score. Unlike your credit report which you can get free each year as mandated by law, your credit score does not come free unless tied (covertly) to something else that you have to pay for.

Now, don’t order your credit score from any credit reporting bureau. Why?

Because not all scores are really important at present. You want the real FICO score supplied by Fair Isaac Corporation. This is the score that most creditors use, and that is why you want this so you can see what they see.

The FICO score is only supplied to consumers through two entities:

1. MyFico: The creator of this score. Unfortunately Experian credit bureau has stopped supplying their data to MyFico perhaps in an attempt to loosen Fico’s stranglehold on credit scoring. You can only get FICO credit scores from Transunion and Equifax from MyFico.

2. Equifax: The only credit bureau that supplies the real FICO score directly to consumers. You will be able (at my last check) to get all three scores from Equifax as it is a credit bureau and, though competitors, the bureaus have some sort of “comrade at arms” relationship.

There are two things (mainly) that affect your credit score; payment history and debt to credit ratio. Late payments will, of course, hurt your score. But most devastating are collections, judgments, unpaid tax liens, and bankruptcy.

If you have collection notions on your credit file, do not run to pay them off (or start making installment payments). Why?

There is a certain lose-lose catch 22 type of situation with collections when it comes to “fixing” your credit score. If you don’t pay, your score remains low; bad. If you pay it is noted on your report as “paid collection”; bad. So, what to do?

The best thing to do is with collections is to negotiate and get a written agreement that the account will be deleted upon making the payment. Be advised too that a collection agency can get in trouble for this, and they sometimes are reluctant to do it. You might not get it easy.

Just push on, while being careful not to “acknowledge” the debt as yours as this can restart the statute of limitations. Never use words like “my debt” or “I owe”. Instead, refer to the debt by its account number or simply “this account”.

As for late payments, these can also be negotiated with the reporting party but the best thing is simply to start making timely payments going forward. As the notations begin to get old they will diminish in importance. Meanwhile your credit score will rise with each timely payment(s) and soon you will have a pretty good score (barring other negative notions).

But perhaps the quickest solution to “fix my credit score” is your debt to credit ratio. This means the amount of outstanding debt (or balance) on your credit cards and other revolving credit compared to what’s available.

Just bringing down the balance(s) on your credit to about 30 percent of limit can cause a spike on you score.

You also should try to establish different types of credit. This means, for example, having a credit card or two, a car payment, a mortgage and perhaps student loan. Banks, credit bureaus and the FICO score model love to see a “healthy mix” of credit that is also… well, healthy.

Bankruptcies and judgments are a completely different cup of tea. This is because law courts are involved. These require extensive negotiating with the parties involved and some other technical strategies. Unfortunately this is beyond the scope of this article.

Now discover what banks, creditors and the credit bureaus don’t want you to know! Check out the best credit repair programs today.

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Granted, there is no way to foresee every move and counteract it through legislation. In fact, it is also phenomenal that the bill was not killed at conception. May be there is some change at Washington after all (though we still have miles to go). Corporate America and the legislative bodies became bed partners long ago it is not going to change any time soon. But that’s a different subject.

Some are of the opinion that the new law called the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 whose acronym interestingly is CARD, is good news to the consumer. I’m of the opposing opinion that it is hardly adequate. Why?

For one, though the new rules do stipulate that banks cannot raise interest rates, this is only for old balances. They still can hit you on new charges. And there is no cup on what interest they could charge you.

Rates have been going up even for people with good credit scores and payment history, sometimes to ridiculous levels.

You can refuse to accept the new rates – banks must give you 45 days notice – but you must stop using the card and pay off the balance within 5 years. You also have the option of paying double the minimum payment until the full payment is made. Make sure to demand in writing that the account be closed so you have a paper trail as any charges (even accidental such as a forgotten automatic charge) can reactivate the card at the new rate (ouch!).

There is also the matter of variable APRs, which is not covered by the new law. This means that the interest rates on credit cards can rise or fall each month. Banks are not required to inform you of rate increases when the rate is variable. Not surprisingly, banks are now beginning to adapt variable interest rates. And banks have ways to manipulate this rate.

Also to note is that the new law does not kill that obnoxious animal creditors like to call “universal default”. This is the practice of financial institutions increasing interest rates when you get late or default on another unrelated account.

Under the new provision, credit card companies cannot raise past rates based on universal default but can raise rates on future charges with 45 days advance notice. And they can raise the rates to whatever they want.

The upfront charges on subprime cards will not exceed 25 percent of limit on new credit cards for the first year. This is supposed to help curb the practice of issuing cards with close to limit upfront fees (therefore putting the consumer in debt before even making a purchase).

Again, they will try to make up for this with high interest rates and higher minimum payments. And God knows what will happen once that first year is over. How about a 79.9 percent APR? Yes, it’s real I didn’t make it up (see Credit card’s newest trick: 79.9% interest).

Yes, banks still have a huge leeway to legally raise interest rates on credit cards to atrocious levels, charge (ever increasing) new fees and other creative ways to squeeze more money out of you and me. And they still can slash you credit limit(s) and shut down your account without notice regardless of your payment history.

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By having a copy of the report in your hand, you will know exactly where you have to go to clean up your credit report. Again, speculating on negative components to your credit score makes no sense. You need to have accurate info in front of you.

Being proactive is probably the best solution if you are asking how do I clean up my credit report. That means you need to take the steps to pay along debts on time. When those statements arrive in the mail, send out a check ASAP. Or, better yet, sign up for direct debit withdrawals so you do not miss any payments.

Paying more than the monthly minimum is a must for those that want clear credit. This helps pay down the debt you owe while also showing that you are willing to take care of your finances. In short, it shows you are being responsible which is a plus. And, of course, the fact that your debt would be decreasing is another positive towards your rating.

Avoid using those credit cards once you have aid off the balances on them. Actually, you will want to cease charging on the cards whether or not the balance is or isn’t paid off. The ability to clear your credit history will be made perpetually difficult if you keep using the credit cards. Doing so just piles on more and more debt. Getting those balances down to zero is the key.

If you are not able to get the balances down to zero, you can take solace in the fact that cutting the balances down by half or even one-third will work quite well in terms of the ability to improve your credit score and get you back to where you need to be.

Side note: Some banks are now closing down (or reducing limits on) credit cards of dormant credit cards. Others are charging “inactivity” fees. So be sure to use your credit card(s) from time to time.

And time is most definitely on your side when you ask how to clean up my credit report. Negative statements only remain on a credit history for 7 years. After that time has expired, negative information will drop off. It might seem like forever when you’re in the situation, but eventually you do get there.

That is why it is so important to avoid piling more debt. And, of course, it is also necessary to avoid any defaults or collection actions. You do not want to keep adding adverse statements to the credit report. You want it to get cleared out as fast as possible. This way, you can avoid a ton of problems with negative marks on the report.

Those that are truly stuck for a solution regarding “how do I clean up my credit report” would probably wish to look into professional counseling services. Such professionals may be able to offer a solution to your needs.

Now discover tips and tricks for cleaning your credit file that banks and credit bureaus do not want you to know. Check out top rated credit repair programs today.

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Yes, it may take some time and effort to clear up a poor credit score and history. But, time will go by whether you take the right steps or not. So, would it not be better to take the steps to improve your credit?

Firstly, you need to order a copy of your credit report. This should always be the first step to take when concerned with the process of how to clear up bad credit history. Upon looking at you credit report, you can pinpoint any inaccuracies and then seek to have the inaccurate information removed.

This is done by contacting the individuals that have reported inaccurate info and asking them to have it removed. If no one were to respond to your request, your next step would be to contact the credit agency and inform them of the situation. This way, the credit agency could clear out the inaccurate information.

You also need to start paying down your debt. You will never truly improve a bad credit score if you are buried in high credit card balances. That is why you need to do what you can to bring those balances down as much as possible.

Some will look towards debt settlement as an option to lower how much they owe. Here is the unfortunate flipside to such an option: debt settlement can prove to be the worst option for someone wondering how to clear bad credit since a settlement will lower a credit rating.

The only way it would not would be if you had an agreement with the lender to not report the settlement to the credit agency. This would be an ultra rare occurrence but it is not outside the realm of possibility.

Are you currently in arrears with any of the credit card companies you have accounts with or any other lending entities? If you are then you will need to do what is necessary to straighten your situation out. That means you need to call customer service and set up some program to help get your account current.

When you do not take steps to reverse a problematic scenario, you will find getting out of debt to be impossible. Those wondering how to clear bad credit need to first start by getting current on their debts. Some dread this but they need to realize lenders are more comfortable working with those willing to make arrangements to pay their debt back.

Responsible people will generally find solutions to problems easier to procure. Take that into consideration when wondering how to clean up your credit history.

If there were two words to describe the way to get out of a bad situation they would be “take action.” Doing so is certainly better than doing nothing at all.

Want to clear bad credit history fast? Find out what banks, collectors and credit bureaus don’t want you to know! Check out Credit Repair Programs now.

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Basically, now banks are cannot hike your interest rates on old balances. You will also know exactly how long it will take you to pay off a balance if you continue to make only minimum payments: I’m not sure this will change some peoples’ habits (no offense) but that’s subject of another post.

Though the new law is intended to protect us from whimsical rate interest hikes, including that evil thing known as “universal default”, it not all-encompassing. Even long before the new law took effect, new fees had started to emerge. One such fee is an “overseas transaction” charge that kicks in when you purchase an item from a seller outside the US (which happens a lot in online purchases).

This is perhaps the biggest weakness of the bill: banks can impose other charges and fees. All they have to do is give these charges different names.

The new credit card law does not place a ceiling on interest rates either. Banks can still close you account or cut down your limit at will.

For more details see MSNBC article New credit card laws rife with loopholes

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The Fair Debt Collection Practices Act (FDCPA) is the federal law that says what debt collection agencies can do or not do when collecting a debt from an individual. This law protects consumers from undue harassment.

One of your rights under that law is to put stop to all communication from a collection agency. However this part should be used judiciously as it can backfire in your face. There are instances when some form of communication should be left open.

Collection agencies like to make you believe that they have absolute right to collect from you: balderdash. They are businesses just like any other business and cannot force you to do business with them.

Perhaps one exception is a debt collector who is named in the agreement you signed when applying for the loan, credit card or service. This type of collector usually has a bigger leeway than third party collectors and junk debt buyers (JDB).

In case you don’t know junk debt buyers are collection agencies that buy old presumably uncollectable debts for pennies on the dollar.

The best time to stop a collector is right at the beginning. A collector is required to give you 30 days to dispute a debt before they can begin calling you or report the account to a credit reporting agency. You should take advantage of this window to avoid damage (or further damage) to your credit score.

Most credit repair information books and articles will advise you to send a “cease and desist” letter to stop collectors from contacting you. However, this usually does not work. Neither does requesting for “verification”.

To stop a debt collector outright, you need to:

1. Request validation (within 30 days) including proof that the agency is authorized to collect from you and in your state of residence; proof that you agreed to pay; the amount owed; an explanation of how the amount was calculated; and proof that the statute of limitations has not expired.

2. State in your letter that you will require 30 days after receiving the required information to conduct your own investigation.

3. Ask that the agency not call you by phone at home or at work. Stipulate that all correspondence between you and the agency be by mail through USPS.

4. Demand that the collection agency cease any negative reporting to the three major credit reporting agencies (Experian, Equifax and Transunion) and that any negative reporting already commenced by taken off during the period of investigation.

Remember to send your letter via verifiable means such as certified mail or priority mail with signature confirmation.

While this method will stop many debt collectors dead on their tracks it is not without an element of risk. If the statute of limitations for the debt has not expired, you can be taken to court. Also, it potentially closes avenues for negotiating with the collector(s) as they may become less receptive.

The above tips don’t even begin to scrape the surface when it comes to stopping collections. For more tips and powerful sample letters that you can copy and adapt to your situation check out credit repair programs today.

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