http://guruknowledge.org en-us http://guruknowledge.org N/A daleking@guruknowledge.org Mon, 06 Oct 2008 15:24:33 -0400 20 http://guruknowledge.org/articles/1886/1/Credit-Repair---Quick-Start-Guide/Credit-Repair---Quick-Start-Guide.html Credit repair and Your Payments You have decided to repair your credit. You need to make sure that all of your payments are made on time from now on. Make sure your finances are organized and that there is enough room in your budget for the occasional unexpected expense. Credit repair requires effort and you don't want to slip backwards. Credit repair can transform your life; make the right effort and you will be richly rewarded. daleking@guruknowledge.org (Jim Kemish) Sat, 04 Oct 2008 00:00:00 -0400 http://guruknowledge.org/articles/1857/1/Credit-Repair-and-Your-New-Life/Credit-Repair-and-Your-New-Life.html Credit Repair and the Power to Change Today is a good day to make a fresh start. There are a million ways to freshen up your life, organize your finances, and start getting your credit into shape. It doesn't matter what your credit looks like at the moment. If you start your credit repair effort today you will reach your goals before you know it. All you need to do is put one foot in front of the next. Let's get started. It's a new day.   daleking@guruknowledge.org (Jim Kemish) Fri, 19 Sep 2008 00:00:00 -0400 http://guruknowledge.org/articles/1846/1/Credit-Repair-Quick-and-Easy-Tune-Up/Credit-Repair-Quick-and-Easy-Tune-Up.html Your Credit Score Matters One little number determines the interest rate you pay on every loan you take. And your interest rate determines your payment, thereby impacting your budget and the quality of your life. This is important. Every point of your credit score matters. So pay attention. Credit repair can pay dividends that last for years to come. daleking@guruknowledge.org (Jim Kemish) Thu, 11 Sep 2008 00:00:00 -0400 http://guruknowledge.org/articles/1841/1/Credit-Repair-and-the-End-of-Authorized-User-Accounts/Credit-Repair-and-the-End-of-Authorized-User-Accounts.html Common Practice It is a common practice for parents to give a child a credit card. It's good for emergencies and handy for everything from summer camp to college life. It is also common for one spouse to make the other spouse an additional card member. daleking@guruknowledge.org (Jim Kemish) Tue, 09 Sep 2008 00:00:00 -0400 http://guruknowledge.org/articles/1835/1/A-Small-Credit-Repair-Miracle/A-Small-Credit-Repair-Miracle.html John and Susan declared bankruptcy in January of 2004 and were discharged four months later in April. They were under the impression that there was nothing that could be done to repair their credit following the bankruptcy. They both felt as if they were holding their breath and waiting for the years to pass. In January of 2008 they decided to apply for an FHA mortgage. daleking@guruknowledge.org (Jim Kemish) Fri, 29 Aug 2008 00:00:00 -0400 http://guruknowledge.org/articles/1815/1/Credit-Repair---Big-News-About-Authorized-User-Accounts/Credit-Repair---Big-News-About-Authorized-User-Accounts.html Questionable Credit Repair Practices A small sub-set of the credit repair industry has been operating in a gray area of the law by selling authorized user accounts to consumers. Many credit repair customers have been willing to pay significant amounts of money for these accounts, and the credit score benefit that comes with them. According to the Fair Isaac July 31, 2008 press release, those days are officially over. daleking@guruknowledge.org (Jim Kemish) Thu, 14 Aug 2008 00:00:00 -0400 http://guruknowledge.org/articles/1814/1/Credit-Repair-and-Your-Credit-Scores---Common-Questions/Credit-Repair-and-Your-Credit-Scores---Common-Questions.html When did credit scoring begin? All of your credit repair efforts are designed to improve your credit scores. There may be no more important number in your life. But where did credit scoring start? The FICO scoring model was created in the 1950s by two Stanford University researchers, Bill Fair and Earl Isaac. Automated FICO scores were first made available in 1989 and initially utilized by credit card issuers. But scores really became part of all of our lives in 1995 when Fannie Mae and Freddie Mac, the mortgage giants, asked lenders to incorporate the use of FICO scores in their approval decisions. The rest is history. Fair Isaac Corp. trades on the New York Stock Exchange under the Symbol FIC, and reported revenues of over 800 million dollars in 2007. daleking@guruknowledge.org (Jim Kemish) Wed, 13 Aug 2008 00:00:00 -0400 http://guruknowledge.org/articles/1802/1/Credit-Repair-Tips-For-Everyone/Credit-Repair-Tips-For-Everyone.html Using Your Credit Cards There is nothing wrong with using your credit cards. Credit cards allow you to manage both purchases and unforeseen events over time. There is also nothing particularly wrong with running your balances up to the limit - unless you need your credit scores to be at their best in the short term. daleking@guruknowledge.org (Jim Kemish) Fri, 08 Aug 2008 00:00:00 -0400 http://guruknowledge.org/articles/1781/1/Credit-Repair-For-Your-Mortgage/Credit-Repair-For-Your-Mortgage.html Find Out Your FICO Scores Your mortgage lender will underwrite your loan application using the middle of your three FICO scores. If you expect to purchase a home or refinance your current mortgage you should know your FICO scores in advance. If there is a problem it is best that you discover it, rather than your mortgage lender. Plan your credit repair strategy today. daleking@guruknowledge.org (Jim Kemish) Thu, 31 Jul 2008 00:00:00 -0400 http://guruknowledge.org/articles/1773/1/Dale-King-Interviews-Jim-Kemish/Dale-King-Interviews-Jim-Kemish.html Dale King: Today, I'm interviewing leading credit repair and restorationexpert, Jim Kemish. Hello Jim, how are you? Jim Kemish: Great, Dale. It's a pleasure to speak with you.Dale King: Would you mind explaining exactly what it is that you do? daleking@guruknowledge.org (Dale King) Wed, 30 Jul 2008 00:00:00 -0400 http://guruknowledge.org/articles/1766/1/Credit-Repair---How-to-Handle-a-Collector/Credit-Repair---How-to-Handle-a-Collector.html The Basic Rules Collectors are governed by the Fair Debt Collection Practices Act (FDCPA). Collectors do not always play fair, so it is best if you know the rules. Collectors cannot report a collection to the credit bureaus unless they have sent you a letter detailing the debt and the identity of the original creditor. They must also provide an explanation of your right to challenge the debt within thirty days of receiving the letter; if used properly this is a powerful credit repair tool. daleking@guruknowledge.org (Jim Kemish) Mon, 28 Jul 2008 00:00:00 -0400 http://guruknowledge.org/articles/1741/1/Credit-Repair---How-to-Raise-Your-Credit-Score/Credit-Repair---How-to-Raise-Your-Credit-Score.html Get the Big Picture Do you want to have fantastic credit scores? Would you like to be approved for the lowest cost financing available when you purchase a home or an automobile? If so, you need to understand the factors that have the greatest impact on your credit scores - and how to control them. Credit repair can make a dramatic difference in your life; just take one step at a time. daleking@guruknowledge.org (Jim Kemish) Thu, 17 Jul 2008 00:00:00 -0400 http://guruknowledge.org/articles/1723/1/Credit-Repair---Your-Future-Starts-Now/Credit-Repair---Your-Future-Starts-Now.html Setting Priorities What do you want from life? You can achieve your goals. Success is within your reach. There are just two requirements. First, you must be clear about your goals. Second, you must work towards your goals - everyday. Clarity is essential. If you really want something, your actions must be consistent with your goals. If you want a promotion at work, for example, you might choose to sign up for a night class that will help your career. If you want to get into top physical condition you could start an exercise routine today. Every choice you make today will determine the direction your life will take tomorrow. daleking@guruknowledge.org (Jim Kemish) Fri, 11 Jul 2008 00:00:00 -0400 http://guruknowledge.org/articles/1697/1/Credit-Repair-Your-Budget-and-Your-Life/Credit-Repair-Your-Budget-and-Your-Life.html Taking Stock of Your Life Money comes and money goes. How do you spend your money? Organizing a budget does not have to be painful. Getting started can be challenging, but once underway you are likely to feel exhilarated. There is nothing like the feeling that comes from regaining control of your life. If you are starting a credit repair program, now is the time to implement a budget. It's easier than you think. Just take one step at a time and you will reach your goal before you know it. daleking@guruknowledge.org (Jim Kemish) Tue, 01 Jul 2008 00:00:00 -0400 http://guruknowledge.org/articles/1680/1/Time-For-a-Credit-Repair-Tune-Up/Time-For-a-Credit-Repair-Tune-Up.html Starting your Credit Repair Tune Up - Get Your Reports A credit repair tune up does not have to be hard. If you break up the project into smaller tasks the whole job will be a breeze. Don't be intimidated. Take it slow and you will get the job done. Each little step along the way can add points to your credit score and move you closer to your credit repair goals. daleking@guruknowledge.org (Jim Kemish) Wed, 25 Jun 2008 00:00:00 -0400 http://guruknowledge.org/articles/1669/1/Credit-Repair-Adventures---A-True-Story/Credit-Repair-Adventures---A-True-Story.html Cease Communication Letters Cut Two Ways Bob and Sue were reading about credit repair and the Fair Debt Collection Practices Act on the internet. They came across information about Cease Communication Letters which would force a collector to stop calling. So one day, after getting a call from an aggressive collector, Sue suggested they send a Cease Communication Letter. They sat down at the keyboard and gleefully wrote a note to the collector demanding that he cease communication. Bob even added some impressive language to convey his knowledge of the law. They went to the Post Office, mailed the letter, and went out to celebrate their credit repair victory. And then it all went bad. daleking@guruknowledge.org (Jim Kemish) Mon, 23 Jun 2008 00:00:00 -0400 http://guruknowledge.org/articles/1636/1/A-Step-by-Step-Guide-to-Credit-Repair/A-Step-by-Step-Guide-to-Credit-Repair.html The Need for Credit Repair In 2003 congress passed an important amendment to the Fair Credit Reporting Act. The amendment, known as FACTA, required Equifax, Experian, and TransUnion to provide consumers with a free credit report, upon request, once every 12 months. This was meant to encourage consumers to examine their credit reports for errors. FACTA put a significant burden on the credit bureaus, and for good reason; 50% of all credit reports contain errors severe enough to cause consumers to pay premium interest rates on loans or even to be denied outright. This is a serious problem. daleking@guruknowledge.org (Jim Kemish) Fri, 13 Jun 2008 00:00:00 -0400 http://guruknowledge.org/articles/1627/1/Credit-Repair-and-the-Collection-Puzzle/Credit-Repair-and-the-Collection-Puzzle.html Getting the Collection Letter Many people in credit repair programs have received collection letters. Sometimes the credit repair effort itself can attract a collector, but you can turn the situation to your advantage. Collection letters are designed to intimidate, and include enough threatening legal language to upset anyone. Many recipients of collection letters opt to ignore them. This is a mistake. You have an important right when contacted by a collector, but it only lasts for 30 days. daleking@guruknowledge.org (Jim Kemish) Wed, 11 Jun 2008 00:00:00 -0400 http://guruknowledge.org/articles/1609/1/Credit-Repair-and-the-Hidden-Power-of-Credit-Cards/Credit-Repair-and-the-Hidden-Power-of-Credit-Cards.html The Growing Importance of Your Credit Score Credit repair revolves around credit score improvement, and for good cause. You are probably aware that a low credit score can keep you from getting the credit you want. But did you know that lenders set interest rates based on credit scores? Late in 2007, Fannie Mae and Freddy Mac, the federally charted mortgage giants, modified their pricing to be more sensitive to credit scores than ever before. Even borrowers with excellent credit will now have their rate adjusted based on incremental score differences. daleking@guruknowledge.org (Jim Kemish) Thu, 05 Jun 2008 00:00:00 -0400 http://guruknowledge.org/articles/1602/1/Credit-Repair---Exercise-Your-Legal-Rights/Credit-Repair---Exercise-Your-Legal-Rights.html Credit Repair and FCRA Reporting Limits The Fair Credit Reporting Act (FCRA) is the law that stipulates the amount of time derogatory information can remain on your credit report. Most people attempting credit repair are aware that most derogatory information can report for up to seven years. This is easy to calculate for a simple item like a late payment. If you were 30 days late on a credit card payment in January of 2001 the late payment can continue to report until January of 2008. daleking@guruknowledge.org (Jim Kemish) Mon, 02 Jun 2008 00:00:00 -0400 http://guruknowledge.org/articles/1592/1/The-Seven-Deadly-Credit-Repair-Sins/The-Seven-Deadly-Credit-Repair-Sins.html Credit Repair Sin #1: Sticking Your Head in the Sand Have you been through a period of financial stress? Is your credit a mess? It can be difficult to look at the damage, but ignoring your credit report is the number-one worse thing you can do. Did you know that late payments, charge-offs, and collections are almost guaranteed to generate errors that will depress your credit scores even further? It's ironic that shortcomings in the credit reporting system create a bias against the very consumers who can afford it the least. Fortunately there is good news. It is never too late to stand up for your rights. Take a deep breath and start your credit repair effort today. daleking@guruknowledge.org (Jim Kemish) Thu, 29 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1587/1/Credit-Repair---Credit-Score-Secrets/Credit-Repair---Credit-Score-Secrets.html FICO - More Than Meets the Eye Fair Isaac and Company is the developer of the FICO score, the credit score used by most lenders today. The exact formula is not published, but Fair Isaac offers a breakdown of the categories of influence, and the relative importance of each. The breakdown is a helpful starting point for anyone in credit repair mode who wishes to optimize his or her scores, but it is only a starting point... daleking@guruknowledge.org (Jim Kemish) Wed, 28 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1576/1/Credit-Repair---A-Few-Steps-To-Perfection/Credit-Repair---A-Few-Steps-To-Perfection.html No Success Without a Budget Effective credit repair is a multi-dimensional process. Your credit report is just the final outcome. If you want to repair your credit you need to start with your finances. You must develop a budget. A budget is a powerful personal financial tool, and you can't succeed without it. Get a pen and paper. Get serious. List every expense you have, from essential to entertainment. You should examine your checkbook and your credit card statements. Whatever you spend money on should be included. daleking@guruknowledge.org (Jim Kemish) Sat, 24 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1550/1/Credit-Repair-and-the-Power-of-Secured-Credit-Cards/Credit-Repair-and-the-Power-of-Secured-Credit-Cards.html The Big Credit Repair Mistake One of the big mistakes people make as they begin a credit repair program is to neglect the credit rebuilding part of the credit repair process. Removing derogatory information, as important as it is, will only get you halfway to your goal. If you clean up your credit without opening new accounts your credit scores may go nowhere; in fact, your credit scores may fall leaving you no better off than you were before. daleking@guruknowledge.org (Jim Kemish) Wed, 14 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1533/1/Credit-Repair-and-Bankruptcy/Credit-Repair-and-Bankruptcy.html A Changing World Bankruptcy is not as attractive an option as it once was. Many people attempting to discharge debts in a Chapter 7 bankruptcy are now forced into a Chapter 13 repayment plan. Many more are discovering that do not qualify at all. Let's take a look at the new bankruptcy laws as well as some credit repair strategies that will help you minimize the damage to your credit report. daleking@guruknowledge.org (Jim Kemish) Wed, 07 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1522/1/Credit-Repair---Whats-The-Score/Credit-Repair---Whats-The-Score.html FICO, the Score that Counts There are many credit scores available, but the FICO score is the one that matters. FICO, by the way, is an acronym for Fair Isaac & Company, the creator of the scoring model. Virtually all lenders use FICO scores to make loan decisions. If you are in a credit repair program, any score you monitor is fine for measuring progress. But if you are planning to apply for a loan the FICO score is the one to watch. daleking@guruknowledge.org (Jim Kemish) Fri, 02 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1521/1/Credit-Repair---A-Fresh-Start/Credit-Repair---A-Fresh-Start.html Life is Unpredictable There are innumerable reasons people fall behind on their bills. Getting back on your feet after a period of financial challenge can be hard. But if you take the proper steps you will not only succeed, but emerge stronger than ever. Here are some awesome credit repair tips along with some advice on organizing your efforts. daleking@guruknowledge.org (Jim Kemish) Fri, 02 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1516/1/Credit-Repair-and-a-Lost-Wallet/Credit-Repair-and-a-Lost-Wallet.html Getting Started If you have lost your wallet you should take defensive action as soon as possible. Make a list of everything that was in your wallet; credit and debit cards, identification, insurance cards, movie rental cards, etc. The first order of business should be to contact all credit and debit card issuers, and inform them of your loss. They will deactivate your cards and discuss your options. Most credit card companies will provide a new card immediately to minimize your inconvenience. Once you have contacted everyone it's time to consider additional precautions. If you need help, most credit repair professionals will be familiar with your choices and should be happy to provide guidance. daleking@guruknowledge.org (Jim Kemish) Thu, 01 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1515/1/Credit-Repair---The-Question-of-Inquiries/Credit-Repair---The-Question-of-Inquiries.html Setting Your Priorities Inquiries may hurt your credit score, or they may do nothing. If you are in a credit repair program there are probably bigger issues on your credit report than inquiries. Since it is best to focus on cleaning up the items that have the greatest impact, your inquiries may be left until everything else is resolved. Even then, you may decide to ignore the inquiries, but before we dismiss them altogether let's explore a bit further. daleking@guruknowledge.org (Jim Kemish) Thu, 01 May 2008 00:00:00 -0400 http://guruknowledge.org/articles/1512/1/Credit-Repair-and-the-Art-of-Finding-Errors/Credit-Repair-and-the-Art-of-Finding-Errors.html The Invisible Threat Are you aware of the errors on your credit report? Do you know what to look for? Most people are under the impression that the information on their reports is correct if it looks familiar. Unfortunately, a cursory glance through your reports in search of unfamiliar information is virtually guaranteed to miss a significant number of errors. Effective credit repair requires a thoughtful and informed effort and should not be taken lightly. Over 100 million Americans have errors on their credit reports serious enough to cause them to pay premium interest rates on every dollar they borrow. The cost of credit reporting errors can be significant. Can you afford to throw money away unnecessarily? daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1511/1/Credit-Repair---The-Time-for-Action/Credit-Repair---The-Time-for-Action.html Jump in With Both Feet The moment you make the decision to start the credit repair process you will feel great; empowered, light, and hopeful. For many people it is a hard step. There may be uncomfortable emotions associated with past credit issues, and revisiting old events can be difficult. But there is nothing more rewarding than regaining control over your life. How do you feel? We suggest you jump in with both feet. You'll be glad you did. daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1510/1/Credit-Repair---A-New-Professional/Credit-Repair---A-New-Professional.html Change is Natural Everything changes. No industry stands still. Henry Ford's Model T was revolutionary, and opened the eyes of the world to new possibilities. But by today's standards, the Model T, as important as it once was, has its place only in the past. Virtually every aspect of the early model automobile has been improved on, far beyond what Henry Ford could have imagined in his day. daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1509/1/Credit-Repair-and-Your-Mortgage-Rate/Credit-Repair-and-Your-Mortgage-Rate.html Mortgage Time Your mortgage is probably the largest financial obligation in your life; and the interest rate on your mortgage can have a major impact on your monthly budget. Here is a very important fact you may not be aware of. Early in 2008, with very little publicity, mortgage lenders began to implement new risk based pricing schedules. Risk based pricing is tiered pricing based on credit score, and will affect your life more than you think. daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1508/1/Credit-Repair---Set-Yourself-Free/Credit-Repair---Set-Yourself-Free.html Realize Your Potential No more hiding. It's time to move on, to be free, to stop looking over your shoulder. You can do it. You can realize your potential. It's time to get straight with your credit. Let me help you start the credit repair process. It will be the best thing you ever did. Take one step at a time, and before you know it you will be free. No more worries about old debts or troublesome collectors. No more hiding from your bills. Let's brighten up your life, starting today. daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1507/1/Credit-Repair-and-the-Zen-of-FICO/Credit-Repair-and-the-Zen-of-FICO.html Credit Repair Matters Your credit score is just a number, and yet it can have a huge impact on your life. And in the wake of the credit-meltdown of 2007 creditors have tightened their guidelines and will now make sure you pay dearly for any deficiency in your credit score. Credit repair has never been more important. daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1506/1/Credit-Repair---The-Final-Word/Credit-Repair---The-Final-Word.html It's Your Life The financial benefits of good credit are significant. Perfect credit, of course, doesn’t mean that you won’t have to get up and go to work every day. But it will mean that you won’t have to work as hard to cover your monthly bills. Poor credit can easily mean that you will pay twice as much for every dollar that you borrow as you would if your credit were perfect. When you stop to add up the numbers including your mortgage, your auto payments, and all of your credit cards, you will realize that poor credit can easily cost hundreds of extra dollars each month. The effort that you make to improve your credit is the best single thing that you can do to improve the quality of your life. daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1505/1/Credit-Repair-What-Not-To-Do/Credit-Repair-What-Not-To-Do.html Beware of Store Cards Department stores love to push their credit cards by offering a discount on your purchase if you sign up on the spot. This can be a good deal. But it is handy to know that store cards create triple trouble on your credit report. First, your score will be reduced because of the inquiry. Second, your score will be reduced because of the new account that will soon appear on your report. And third, store cards tend to give a low credit line, often just above your purchase amount. This can be terribly damaging as the FICO credit scoring model puts a lot of weight on the relationship between your balance and your high credit limit.   daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1504/1/Your-Credit-Score--The-Essential-Facts/Your-Credit-Score--The-Essential-Facts.html Who are the credit bureaus? I have managed a mortgage company since 1989. I also manage a national credit repair business. We speak to people about their credit all day long. There is a common misconception that the credit bureaus are in some way connected to the government. It’s not true – they are nothing but big business. There is no government charter or anything of the sort. And yet there may be nothing that has such a profound influence on your financial life. daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400 http://guruknowledge.org/articles/1503/1/Credit-Repair-Secrets-That-Work/Credit-Repair-Secrets-That-Work.html Credit Repair Pays The impact of bad credit can be significant. Over the years we have helped tens of thousands of our customers successfully repair their credit reports. Credit report repair takes effort and patience. But it is an effort that is well rewarded. We would like to offer some tips for those that would like to undertake the process themselves. It can be done! daleking@guruknowledge.org (Jim Kemish) Wed, 30 Apr 2008 00:00:00 -0400