You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services. They all make the same claims:


“Credit problems? No problem!”

“We can erase your bad credit — 100% guaranteed.”

“Create a new credit identity — legally.”

“We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”

Do yourself a favor and save some money, too. Don’t believe those statements. Only time, a conscious effort, and a personal debt repayment plan will improve a poor credit report.
I will sit down with you and explain how you can improve your creditworthiness and give legitimate resources for low or no-cost help.

 

 Loans  Home and Loans Consultants

Bill Murphy  President   828-322-5169

Specializes in credit repair and credit rebuilding.

Off frame Modular's and Site built houses

 

 

It is easy to get a loan for someone with a good job and record of good payments. But in today's changing economy and job transfers a missed or slow payment can force someone into a lower credit rating with higher interest rates. And most lenders will take advantage of getting that high interest rate.

However with an independent loan consultant a complete look at your credit history can often pen point a problem area, and when reviewed can result in a lower interest loan especially with a secured mortgage loan.

For example, us say that 5 years ago you lost a job and your car was repossessed, automatically dropping your credit score to a rating of 400 and since that time when you try to borrow money you are just declined. So you think the banks hate you, further you think why should I try to borrow 200k for a house, when you are unable to borrow 25,000 for a car.

This is a terrible misconception that often keep people in thinking they have to rent, when in reality a mortgage loan payment is less than rent on property of equal value and you will never save any property assets by renting.

It doesn't cost anything to talk, and we can repair or rebuild your credit and work toward owning your own home.

Now the choice is yours call me today and and 30-35 years from now you can be burning your mortgage papers of paying another months rent.

Pick up the phone, give me a call, you could walk out of my office with the keys to your own home.

Bill Murphy  828-322-5169

For Your Information. By Bill Murphy

How long can negative information stay on my credit report?

Most negative information can stay on your credit report for seven years. Lawsuits, judgments, paid tax liens, accounts sent to collection, criminal records (except criminal convictions, which may be reported indefinitely), late payments, and any other adverse information can normally stay on your credit report for seven years. Overdue child support can also stay on your report for seven years.

Note that some adverse information regarding U.S. government insured or guaranteed student loans, or national direct student loans, may be reported for more than seven years.

Bankruptcies, however, can normally stay on your credit report for ten years from the date of the last activity (usually the date you received your discharge, or the date the case was dismissed, although credit bureaus sometimes start counting from the earlier date of filing).

Credit inquiries (requests by companies for a copy of your report) can stay on your credit report for only two years.
 		 What can I do to rebuild my credit?

After you've cleaned up your credit report, the key to rebuilding credit is to get positive information into your record. Here are two suggestions:

If your credit report is missing accounts you pay on time, send the credit bureaus a recent account statement and copies of canceled checks showing your payment history. Ask that these be added to your report. The credit bureau doesn't have to add this information, but often will.
Creditors like to see evidence of stability, so if any of the following information is not in your report, send it to the bureaus and ask that it be added: your current employment, your previous employment (especially if you've been at your current job fewer than two years), your current residence, your telephone number (especially if it's unlisted), your date of birth, and your checking account number. Again, the credit bureau doesn't have to add these, but often will. 		How can I stop messing up my credit report?

To avoid getting into financial problems in the future, you must understand your flow of income and expenses. Some people call this making a budget. Others find the term budget too restrictive and use the term spending plan. Whatever you call it, spend at least two months writing down every expenditure. At each month's end, compare your total expenses with your income. If you're overspending, you have to cut back or find more income. As best you can, plan how you'll spend your money each month.

For more detailed information on how to create a budget, see How to Make a Budget and Stick to It.

If you have trouble putting together your own budget, consider getting help from me at a nominal fee.

Bill Murphy  828-322-5169
     

Bill Murphy is also president of Carolina Classic Homes with many current pre owned and new homes for sale or we can build a home according to your specs.

 

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