Rebuilding Your Credit After Bankruptcy

After you have filed for bankruptcy in Arizona, you are probably wondering how on earth you’re going to get your credit back to normal. It can take years to cultivate good credit to allow you to make major purchases like a home and cars, and other things that require financing and credit checks. Bankruptcy can affect your credit, but it won’t damage it beyond repair. Luckily, we have a few helpful tips to get you on the right track to repairing your damaged credit after you’ve filed for bankruptcy. Lighter Debt The first step you should take in rebuilding your credit is to accrue a lighter debt load. This will show lenders that you have enough income to repay your current debts and make sure you have enough money left over as disposable income. It also gives them confidence that you won’t have to file for bankruptcy again. Creating a budget and sticking to it to help keep your finances in check can give you the stability and discipline you need to avoid another bankruptcy in the future. Build an Emergency Fund Life can’t always be cut and dry. There will always be unexpected expenses and emergencies that could put your finances back in the gutter. Having an emergency fund can keep you from turning to less than ideal methods of repayment such as payday loans, which can ultimately make you pay far more than you naturally would. Even if you start off with as little as $100, it can help you start to build your emergency fund so it becomes more substantial in the long run. Check Your...

Choosing the Best Credit Counselor in 6 Simple Steps

Are you currently head over heels in debts? Well, with the help of a reputable credit counselor, you can finally breathe a sigh of relief. A good credit lawyer will help you get out of bad credits without breaking a sweat. However, with the financial market being flooded with credit counseling service providers, finding a trustworthy and honest counselor can really pose a challenge to you. So, when finding the right credit counselor, taking extra precautions will not be an option. However, the following 6 tips will lead you to a great professional: 1. Is your prospective counselor a member of a national credit counseling organization? A good counselor should at least be a member of one of the national credit counseling agencies, such as the National Federation for Credit Counseling. This membership means a lot, as you will be guaranteed that you are dealing with a competent counselor. So, if the name of your prospective counselor doesn’t appear in the national credit counseling directory, then there are a lot of questions regarding their qualifications. 2. Ask them if they charge additional fees A counselor might not be honest with you regarding the actual amount they charge, so look for ways to find out if they have extra charges besides the actual cost of the counseling service. You want to deal with an expeditious counselor and therefore, all the payments you make to the credit counselor as part of your debt management plan should reach your creditors at the right time. Also, every penny you give your counselor should pay down your debts and not to be used in...

Popular Myths Regarding Your Credit Score

There seems to be a lot of confusion surrounding what affects a credit score and what doesn’t. Many times, people unknowingly do things that affect their credit score. At other times, people think certain things affect their score when they don’t. Here are a few common misconceptions when it comes to what affects credit scores. Debt-to-Credit Ratio They commonly think this since they won’t be applying for new credit; however, there are other reasons to regularly check a credit score. Insurance companies, potential employers and potential landlords look into credit scores. Leaving things to the last minute can impact where a person lives and other factors, such as having to pay higher interest rates. Loans People tend to think that if they have bad credit that they’ll never be able to obtain a loan. People with bad credit can obtain loans, but they carry higher interest rates, may require that people place up collateral or provide a higher down payment on something. A poor Arizona credit score reflects the likelihood that a person won’t pay off their debt, which is why higher interest rates and such is affected. A credit score can take years to increase. Take time to check it regularly, and research ways to do so. Don’t blindly believe common credit scores myths. At Arizona Credit Lawyers we are always available to help. Contact us today to learn more. Published By: Arizona Credit Lawyers – Gary Nitzkin 3260 N. Hayden Road, Suite 210 Scottsdale, AZ 85251 Phone: 480-771-6001 / 480-771-6001 Email: info@azcreditlawyers.com Website:...

Five Most Important Things That Affect Your Credit Score

The more often you apply for credit and are denied, the lower your credit score will be. Every time you attempt to open a new credit account it negatively impacts your credit score. When you apply for credit very frequently it makes you look like you are struggling financially and it will result in you having a very low credit score. One thing you should do when you’re trying to improve your credit score is to resist the urge to apply for every credit card Arizona stores offer to you. The Types of Credit You Use The credit reporting companies like to see people have several types of credit. It will improve your credit score if credit cards (revolving credit), mortgage loans (long term, and closed end (car loans). Although the types of credit you have do impact your credit, it only plays a small role in determining your credit score. Arizona Credit Lawyers can assist you in making sense of your credit report and help you get back on track. Contact us today to learn more about our services. Published By: Arizona Credit Lawyers – Gary Nitzkin 3260 N. Hayden Road, Suite 210 Scottsdale, AZ 85251 Phone: 480-771-6001 / 480-771-6001 Email: info@azcreditlawyers.com Website:...

How Your Credit Report Can be Damaged Without Your Knowledge

Credit Reporting Agency Errors Credit reporting agencies are also capable of making mistakes that can harm a person’s credit. Such mistakes are made when the reporting agency retrieves the wrong information and passes it on to a lender. For instance, the lending institution may request information on a John Smith who lives in Los Angeles, California, but the reporting agency may accidentally deliver information about a John Smith who lives in New York City. Therefore, the person may subsequently be turned down for a loan or other financial arrangement based on the wrong information. If you suspect that your rights have been violated or that you are a victim of a credit error, Arizona Credit Lawyers can help. Contact us without delay to minimize your damages and prevent future problems. Published By: Arizona Credit Lawyers – Gary Nitzkin 3260 N. Hayden Road, Suite 210 Scottsdale, AZ 85251 Phone: 480-771-6001 / 480-771-6001 Email: info@azcreditlawyers.com Website:...

Your Rights Deserve Credit

As they should, the average person often has a wealth of questions when it comes to their rights concerning their credit reports. Because your credit score can hugely impact your ability to purchase a car, attain a loan, or sign a contract, it is very important to understand your rights as a consumer. Anything you can do to monitor and control this aspect of your financial life can greatly benefit you in the future. Below, you will find some of the most frequently-asked questions when it comes to this kind of financial...

Beware of Credit Repair Companies

Millions of consumers have issues with their credit scores in Arizona. Such companies often omit information that prevents the consumers from making an informed decision. One right that a consumer always has is the right to dispute any item on his or her credit profile. The dispute of an item on one’s credit report does not cost one penny. The person will simply need to contact the credit bureau and initiate a dispute. Unfortunately, credit repair companies neglect to give trusting consumers this information, and they end up paying fees for services that do not require fees. A consumer’s best bet is to search for a legitimate credit lawyer instead of a credit repair company. Why You Need a Legitimate Credit Lawyer A credit lawyer is an attorney that helps a consumer to improve his or her credit score from a legal aspect. A credit lawyer will have legitimate credentials such as certification of law school. A credit lawyer will be well aware of the information in the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. A legitimate credit lawyer can help a consumer with a wide variety of restorative tasks. Such a person can help with and poorly merged data, as well. Every move that a credit lawyer makes will be a legal move. Credit repair is not something that a debtor should try to handle alone. The task requires professional assistance and Arizona Credit Lawyers can provide that. Contact us today to learn more. Published By: Arizona Credit Lawyers – Gary Nitzkin 3260 N. Hayden Road, Suite 210 Scottsdale, AZ 85251 Phone: 480-771-6001 /...

5 Steps Everyone Should Take To Protect Their Credit

Thieves phish for your information in several different ways. Whether it is through traditional mail, e-mail, or over the phone, be weary of anyone that you are not talking to face-to-face. Messages that they send may address you by name and look like they are really coming from your bank or favorite retail stores, but this is them showing how much information they already have on you. They might even send links to authentic-looking websites, but instead of using the link, navigate to the website the way in which you normally would, or stop by the bank or store at your soonest convenience. Step 5. Be careful online. Besides online passwords and fraudulent e-mails, you also have to be careful with the way you shop online. Online shopping becomes more and more popular every year because of its instant access, variety, and price comparisons, but even some legitimate sites are not doing enough to protect your information. A trustworthy website should encrypt your information (companies with a URL beginning with “https” and/or has a padlock icon next to it, indicates it has security measures in place). Also, try to avoid public wi-fi when making purchases or monitoring your accounts. Consult an Arizona Credit Lawyer to learn more about protecting your credit and to help resolve issues that show up on your credit report. Contact us today! Published By: Arizona Credit Lawyers – Gary Nitzkin 3260 N. Hayden Road, Suite 210 Scottsdale, AZ 85251 Phone: 480-771-6001 / 480-771-6001 Email: info@azcreditlawyers.com Website:...