Credit Repair Tips

Cryptocurrency and No Credit Check Loans – Circumventing They System All-Together!

For those who haven’t caught on, Cryptocurrency has the promise to potentially turn the banking system on its ear. Since 2009, the BitCoins market emerged along with BlockChain technologies. From then it’s a starting of ushere in a new era of making and receiving payments. It’s completely separate from the old status quo banking institutions, while substantially raising privacy. Banks are scared! Already we’ve seen larger banks like Bank of America, Chase, and Citi bank users from buying BitCoin with their bank’s credit cards.

Today you can easily find crypto debit cards

However, debit cards don’t do anything to build your credit history or improve your credit score. You may leverage the cryptocurrency sitting in your crypto wallets to build your credit score. A crypto-secure credit card may give you that opportunity to start. There are rumours of crypto-secured credit cards like SALT coming soon.

As the use of cryptocurrency as an alternative currency is increasing rapidly. Also ALT Currencies like SALT are delivering innovations in lending as well. Although No Credit Check Loans and Payday Loans sometimes get a bad rap. But they have their place in the market when used responsibly. For cryptocurrency holders, No Credit Check Cryptocurrency Block-Chain backed loans offer liquidity.

Like Margin Accounts that you may have if you trade stocks. With Cryptocurrency Block-chain backed No Credit Check Loans there is only a small chance of a credit reporting issue. A Margin Call happens when If by some chance your equity falls below the maintenance margin value established by FINRA or your creditor. When you don’t have enough equity to repay the loan, you become personally liable. Only then can send it to Collections to end up on your credit report. Like Margin Accounts, failure to pay back your outstanding Cryptocurrency loans when your margin value drops below the liquidation level may affect your credit score.

Continue to next Article (Solve Credit Reporting Complaints: step by step)

PiggybackHack to Boost Score – Sometimes 100+ Points!

Piggybacking is probably one of the most underutilized effective ways of boosting your score tremendously with little effort or time. So this one hidden credit score hack can literally skyrocket your credit score by 100 points. This is called piggy backing. It’s when someone with good credit adds you as an “authorized user” to one of their credit cards. Usually it’s with a relative or close friend. And finally it usually requires a quick call to the credit card company. So the most clients who have tried this PiggybackHack to Boost Score have seen a significant boost in their credit scores inside just over a month, about 45 days. So what happens? Finally their positive credit will show up on your credit report.

What Types of Credit Cards Are Best?

1) Social Security# Required for Authorized User (major credit card issuers and some others)
2) No Negatives (no late payments)
3) Large Credit Limit (>$5000)
4) Low Balance (roughly 6%)
5) Long History (5+ years)

Answers for Primary Card Holders?

1) Can Piggybacking Hurt My Credit? No, nothing from the authorized user’s report goes on your report. It’s also not like a hard inquiry.
2) Can I Remove Authorized Users Later? Yes, they can be removed as an authorized user at anytime. Also it’s not like co-signing.
3) Is Piggybacking Legal? Yes, it has been a legal way to improve credit since the Equal Credit Opportunity Act 1974.

Continue to next Article (No Credit Check Loans and Cryptocurrency)

If you don’t pay a creditor, they can sue you in your county’s superior court. If they win this case, they may be able to garnish your wages, but you won’t go to jail. Because debtor’s prisons are illegal. If you want to know more, You can search court records for judgements.

To sue you, they must then serve you with a court summons. If you ignore, can result in a summary default judgment against you. It’s important to always respond to court notices.

This isn’t always easy. Sometimes process servers will serve you at old addresses. You may be deployed for the military, be in the hospital, taking care of family emergencies, or simply miss the notice.

Even worse, some collection agencies will hire law firms (or often are law firms themselves). So they’ll send collection notices with the law firm’s header to scare you into paying. These are not official court documents, that need to deliver to you either by certified mail (requiring a signature) or a process server.

What you do if you sued legally

To find out if you are being sued in court or have any judgments against you, call your county’s superior court. Most counties have online public records search you can also find by typing “____ County Court Records” and entering your first and last name into the court’s search engine.

If sued legally, contact the creditor listed as the plaintiff in the court summons. Even after entering in a judgment, they are often willing to negotiate. Here’s documentation from a real client we successfully negotiated down $4000 of debt for:

Sued for a debt isn’t the end of the world. Because you can use all the documentation that you have in your defense. This includes payment records, hospital records, court records, and documentation of any collection efforts used against you.

I’ve said it before and I’ll say it again – documentation is the secret sauce to defending yourself against debt collectors. If you can prove they violated the law in collecting your debt, you can win the case against them.

Continue to next Article (Piggybackhack to Boost Score )

Game the System with This Powerful Trick

Only spending six percent of your available credit makes it difficult to gain credit increases from your credit card companies. Because they’re not going to raise your limits on a card you never use. So, I use this powerful life hack to boost credit score into the stratosphere. And also you can have massive success with it too!

So what I do is charge and maintain a high balance on each card for two months. On the third month, I pay it all off and let it sit for two months. This way, I’m using my credit card enough for the bank. So the bank also continues raising my limit (thus raising my available credit). And at the same time, I am maintaining enough available credit to keep the credit agencies happy.

Master this method, and you’ll notice your score go within months. And there are a few more insider loopholes to instantly transform your life.

Pre-Due Date Payments: A Powerful Life hack to boost credit score

One trick to boost the credit utilization piece of your score without really having to change your spending behavior is to pay your bill approximately 10 days before your due date.

Credit Utilization Formula: Credit Used / Total Credit

Credit Bumpers to Protect History – Cushion the Blow

Another Powerful Life hack to boost credit score!

Just one late payment that happened years ago, maybe when you were back in college, could significantly impact your score today. Therefore one trick to absorb some of the impacts of a negative on your Credit History is to use Credit Bumpers by adding more Accounts to your total number of Open Accounts. This example shows how much faster you recover from one late payment when you have 5 open accounts instead of just one.

Example:

Credit History Formula: On-Time Payments / Total Number of Payments

Continue to next Article (Credit Repair Loopholes – Fix Your Credit)

Now we get to the fun part, where I’ll teach you the magic number credit agencies really want you to carry in debt and why. So Optimize Your Debt Ratio and Game the System with This Powerful Trick.

Your FICO credit score is calculated using the following formula:

35 percent payment history
30 percent amount owed
15 percent length of history
10 percent new credit
10 percent types of credit

This means the bulk of your credit score is made up of on-time payments and how much available credit you have. Obviously paying your bills on time will improve your credit history over time. So we’ll focus on the debt to credit ratio.

Many experts will tell you to stick to 30 percent of your available credit. This means if you have $1000 of credit, you should only have balances totaling $300. But the truth is the more available credit you have, the better your score will be. So maintaining low balances on credit cards can raise your score by up to 100 points.

I recommend keeping your available credit at 94 percent. So does Experian. I checked my own credit report one day and that’s the advice they gave me to raise my own credit score. You should only be spending $6 for every $100 of available credit you have. If you want to successfully raise your credit to the best possible score.

What this shows creditors is that if something bad happens in your life (medical emergency, job loss, etc.), you still have access to funds to pay your bills for the next six months. This lowers your credit risk and makes you someone lenders love to work with.

So in practical your credit limit will be five to six times high than your usages limit to game the system. I have another game-changing trick up my sleeves to boost your credit score.

Continue to next Article (Life hack to boost credit score – Game the System)