Now that I have paid off all my credit card debt and I’m completely debt free, how do I improve my credit & credit score?

I paid them off in full in Oct 2007 w/out settling for less than what I owed, I just paid off whatever the balance was.

I have some negatives on my credit report (before they were paid off) but they are now PIF.

What Should I do next.

I’ve learned my lesson.

Please help.

Nancy (more…)

back in november i applied for a home loan and was pre approved on nov 5 i was told to send 300 to lock in my rate which i did then was told go find your dream home well a week later i called the loan officer to speak with him and heard a recording that the company had shut down there was no other info left no other number so i started trying to contact anyone who could help me to no avail to get my money back i was told to call this number then that number but no one could help me then around late dec or early jan i finally reach someone in the company that said he could help me      he well by this time the houses i was wanting were already sold and i was just wanting my money back but he asked if i had found a house well at this time my answer was no but he wanted me to talk to one of his loan officers so i did well again he told me i was preapproved and go find a house well i did and on feb 1 i called him and told him i had found the house i sent in everything he wanted down to having a appraisal to getting home insurance having my closing papers and the closing date and the day before closing i had talked to this man while sitting in the insurance office to get the binder sent in and on my way home he called my cell to tell me that my loan had expired and that they had to rerun my credit again and that my credit was 0 and the deal was off well i was told to apply for a credit card or get someone elses credit card and add myself and he would do a rapid rescore i am ready for the looney bin please help me is any of this possible

Martha (more…)

Hi Paul, first of all, let me say I think it’s awesome what your doing for people! God Bless you!

Right now, I currently have three Creditors that are Credit Card debt, I have a total of 10,500.00 in credit card debt.

I have spoken to two Debt Settlement companies. They explained to me that they would draft a payment from my account and I would be in the program for two years.

In the meantime, they are waiting to get get the account build up so that they can negotiate with my creditors.

My question, can I do this on my own?

I worked as a Debt College for 2 years, so I know that side of the fence and I’m also a Paralegal and feel that I’m pretty capable of negoativing my own debt. However, do I need a secret number or something in order to do this?

I know Debt Settlements have contacts to every company and they know who directly to go to, how do I find how who to go?

Thank you!

Shannon (more…)

Paul,

Once a person obtains a “pay for delete” letter, then what?  Do I send the letter to the credit bureau?

Thanks,
Dee (more…)

Question for the Broken Credit Bloggers.  There has been a great deal written about pay for delete on our site.  It’s a wonderful way to reach a mutually satisfactory resolution with a collection agency over a bill that is dropping your credit score some 100 points.  I know many of you have had difficulty obtaining such letters from collection agencies and of course, paying a collection in the absence of a pay for delete will likely reduce a credit score.  So, here’s the question…

Would you be interested in having a third party professional company obtain the pay for delete letter for you?

This could be arranged for zero upfront cost.  The company would only be paid after they successfully obtain the pay for delete letter from the collection agency.  At that point, you pay a fee of $199 to the third party professional company and they email you the pay for delete letter that was obtained for your account, signed by the collection agency, and on the collection agency’s letterhead.  I’m thinking this is a service that many of you would like.  Am I right?

Tired of having that nasty collection on your report?  Are you willing to pay $199 to a third party professional company to obtain the pay for delete letter on your behalf?  What are your thoughts?

Click here to let me know if you would like a pay for delete letter

why is my credit really messed up if i am just trying to pull out a loan for school

Christopher

Hi Paul,

I’ve been actively browsing your seller help buyer website. My business partner and I know that if we have the resources to do short- sale financing, we’d have a ton of work to do. It’d be great if you could let us know what lenders are good for this, or just any advice or suggestions.

Thanks!

JP (more…)

Broken Credit, LLC welcomes you to Raise Your Credit Score.  Our free fifteen-minute seminar is NOW AVAILABLE and will discuss the following topics:

• Why errors exist on credit reports
• How to obtain a copy of your free credit report
• The proper way to dispute inaccurate items
• How to re-age a derogatory account to delete the derogatory history
• How to remove collection accounts from your bureau
• How to improve your credit score even if you have no bad credit

This free online seminar is for anyone who desires to improve their credit score THE RIGHT WAY.  Broken Credit, LLC has seen a tremendous need for the general public to have this information and it is our great pleasure to bring this seminar to you for free.

For those of you who will be buying or refinancing a home, this free fifteen-minute seminar could make your dream of homeownership possible and save you tens of thousands of dollars in interest!

Register & Watch Today!

Governor Martin O’Malley called for an emergency work-session with mortgage loan servicers to help find real solutions to the foreclosure crisis and protect middle class families from losing their home.  Joined by Department of Labor, Licensing and Regulation Secretary Thomas Perez and Department of Housing and Community Development Secretary Raymond Skinner, Governor O’Malley announced new emergency regulations and other initiatives to protect homeownership in Maryland and urged homeowners to seek help early if they are facing foreclosure.

“In a very real way, the financial security of our families and the strength and health of our communities depends on our ability to help preserve and sustain homeownership in our State.  It is time to make the loan servicers part of the solution to protect our families,” said Governor O’Malley.  “Maryland has committed significant resources to help Maryland families avoid foreclosure and stay in their homes, and we are prepared to work with loan servicers to develop a framework and a model for large-scale relief for homeowners that will keep people in their homes.”

During the work-session, the Governor will call for a public agreement with major servicers to set a standard for consistent, timely and sustainable loss mitigation services for Maryland homeowners.  Governor O’Malley also announced that Maryland has adopted new emergency regulations requiring reports from mortgage loan servicers detailing their efforts to help homeowners facing default and foreclosure.  Maryland is only the second state in the nation to require this data.

The regulation requires servicers to provide DLLR with lists of homeowners who have adjustable rate mortgages that are about to reset to higher interest rates. DLLR will use this information to reach out to those homeowners, providing them with information on resources available to help them.

In addition, DLLR’s Commissioner of Financial Regulation is examining the operational systems, practices and procedures of Ocwen, one of the largest servicers of Maryland loans.  The Commissioner will review a sample of the company’s Maryland mortgage loan servicing files.

“Everyone in the mortgage industry has said they want to help homeowners avoid foreclosure. We want to ensure their actions are matching their words,” Secretary Perez said. “This data collection will shine a bright light on services, and will help DLLR help homeowners.”

Governor O’Malley also called on homeowners to take advantage of DHCD’s “Bridge to Hope Loan Program,” which will provide gap loans at zero percent interest to homeowners who are a few months behind in their mortgage.

“This statewide program provides Maryland homeowners with short-term relief to maintain homeownership by preventing residential mortgage foreclosures resulting from borrowers experiencing financial difficulty caused by either a sub-prime or exotic mortgage,” said Secretary Skinner.

In the fourth quarter, Prince George’s, Montgomery, Washington and Worcester Counties saw the number of foreclosure events double from previous quarter. In other counties, such as Kent, Garret and Somerset, the numbers nearly tripled. Statewide, Maryland saw 9,722 foreclosures, compared to 7,001 in the previous quarter, an increase of 2,721 foreclosure events statewide.

According to RealtyTrac, one of the major providers of property foreclosure data, Prince George’s County continued to have the highest number of foreclosure events, with 2,732. Montgomery County had the second highest number of events, with 1,310, while Baltimore City ranked third with 1,268 events.

Governor O’Malley’s announcements today are in addition to sweeping reforms proposed for the mortgage industry, including raising the bar for licensing, tightening lending standards and eliminating defective products from the market in Maryland.

The various measures represent a comprehensive effort to combat rising foreclosure rates and protect Maryland homeowners in the future. Governor O’Malley called on lawmakers to act swiftly to pass his proposals and provide relief to Maryland homeowners.

Source – Office of the Governor of Maryland

Check out Adriel’s Latest Results!

Ok folks, looks like more awesome results this week….I’m starting to sound like a broken record here!! Here we go:

Item 1-BP Oil/Citibank SD – This was a transferred charge off to a collection company for $469.00 dollars back in 2001. BP/Citibank could not verify this information, so it was deleted!

Item 2-West Asset Management – This was a medical collection for $723.00 dollars last reported in 2002. West Asset Management could not verify this information, so it was deleted!

Item 3-Novastar Mortgage – This was a late mortgage payment (1×30) in August of 2005, well, we know what happened, DELETED!!

Tune in next week for more “Results of the Week”!

Adriel D. Torres
President/C.E.O.
Contact Adriel
Toll Free: 866.686.4289