2006-11-11T19:01:59Z Before you go for your mortgage and to avoid any embarrassment, it is important to find out your credit score and to correct any errors that may appear, so that you can get the lowest possible interest rate on your loan. This is likely the largest single purchase you will make in your life, So be smart. Find out your credit score today in minutes, and save money now! tag:legalhelpmate.com,2008:5 ©2004-2005 Legal Helpmate Corp. - Legal Document Service. 2006-11-11T00:00:00Z 2006-11-11T00:00:00Z 2006-11-11T00:00:00Z

The credit bureaus receive information about you from your lenders. They have agreements with these lenders concerning exchanging information, and they require the credit grantors to pass the information that occurs during the history of your loan on to the credit bureau.

Legal Helpmate http://www.legalhelpmate.com Remember that the credit bureaus are moneymaking businesses and are not affiliated with or working for the U.S. government. Their goal is to collect, maintain and sell financial information about Americans. 2006-09-20T17:17:08Z 2006-09-20T00:00:00Z 2006-09-20T00:00:00Z

CCCS is a service that offers counseling about how to work out a realistic budget and debt repayment plan and work with creditors. The goal is to ensure that debts are paid back over time.

Legal Helpmate http://www.legalhelpmate.com Consumer Credit Counseling Service (CCCS) 2006-09-20T17:15:58Z 2006-09-06T00:00:00Z 2006-09-06T00:00:00Z

A Breakdown of Terms You Need To Know as a Borrower

Legal Helpmate http://www.legalhelpmate.com Credit 2006-09-20T17:15:00Z 2006-06-02T00:00:00Z 2006-06-02T00:00:00Z

1. You are unemployed and seeking employment in the next 60 days.

Legal Helpmate http://www.legalhelpmate.com By Federal law, you are entitled to one free credit report per year directly from a credit reporting agency only if you certify that: 2006-09-20T17:05:27Z 2006-05-17T00:00:00Z 2006-05-17T00:00:00Z

Other types of credit fraud involve your account information but not your physical credit card. Such cases may be more damaging, since you may not realize anything is wrong until you notice unfamiliar charges on your monthly statement. Knowledge of your account number, expiration date.

Legal Helpmate http://www.legalhelpmate.com In its simplest form, credit fraud involves someone else's use of your credit to make purchases or cash advances. Though often damaging, such cases are normally stopped when you report your card as missing. 2006-09-20T17:03:08Z 2006-03-19T00:00:00Z 2006-03-19T00:00:00Z

By preparing yourself and your credit before a home purchase or refinance, you can ensure a smooth finance process and can potentially save thousands on your loan. Improve your financial profile now so you can take advantage of the low interest rates before they disappear.

Legal Helpmate http://www.legalhelpmate.com Buying a home is probably the single largest investment most people make in a lifetime. 2006-09-20T17:02:17Z 2006-04-04T00:00:00Z 2006-04-04T00:00:00Z

If you have paid promptly in the past, they may be willing to work with you. Don't wait until your account is turned over to a debt collector. At that point, the creditor has given up on you. Most creditors don't want to spend time and money to collect delinquent accounts - all they want is their money! Therefore, in most cases, your creditors will be willing to work with you through your crisis.

Legal Helpmate http://www.legalhelpmate.com A sudden illness or the loss of your job may make it impossible for you to pay your bills on time. Whatever your situation, if you find that you cannot make your payments, contact your creditors at once. Try to work out a modified payment plan with your creditors that reduce your payments to a more manageable level. 2006-09-20T17:01:24Z 2006-04-17T00:00:00Z 2006-04-17T00:00:00Z

This information comes from your credit applications, so its accuracy depends on your filling out the forms clearly, completely and consistently each time you apply for credit.

Legal Helpmate http://www.legalhelpmate.com Your personal credit report contains such information as your name, current and previous addresses, phone number, Social Security number, date of birth, and current and previous employers. Your spouse's name may appear on your version of the credit report, but it will not appear on the version that is provided to others. 2006-09-20T17:00:13Z 2006-05-01T00:00:00Z 2006-05-01T00:00:00Z

When you apply for a loan of any kind, the creditor requests your credit report from at least one of these bureaus. There are many other credit bureaus throughout the United States, but they are mainly affiliated with one of the major three.

Legal Helpmate http://www.legalhelpmate.com The three major credit bureaus in the United States: Experian, TransUnion, and Equifax, are in the business of exchanging information. 2006-09-20T16:58:36Z 2006-06-18T00:00:00Z 2006-06-18T00:00:00Z

Send your dispute letter by CERTIFIED RETURN RECEIPT MAIL. This should not be done with the first attempt. Keep a record of when you sent the dispute letters and what date you should expect a response. If you have received no answer to your dispute after 30 to 37 days, send a certified return receipt letter requesting an updated credit report demanding the disputed credit record be deleted. If the bureaus do not reply within the 30 days, it must be that the information was either inaccurate, or it could not be verified. In either case, according to the Fair Credit Reporting Act, the credit record must be immediately deleted from credit report.

Legal Helpmate http://www.legalhelpmate.com Consumers working on their credit reports say many times their letters are ignored by the credit bureaus. Consumer’s say even with proof a credit record is not theirs, its removal from their credit report can take three or four challenge letters, because the credit bureaus may have only verified it in their computers and not on the credit report. 2006-09-20T16:57:56Z 2006-07-10T00:00:00Z 2006-07-10T00:00:00Z

The system is being abused by fraudulent telemarketers, even though automatic debiting of your checking account can be a legitimate payment method -- many people pay mortgages or make car payments this way. To protect yourself, if a caller asks for your checking account number or other information printed on your check, you should follow the same warning that applies to your credit card number -- do not give out checking account information over the phone unless you are familiar with the company and agree to pay for something. Remember, if you give your checking account number over the phone to a stranger for "verification" or "computer purposes," that person could use it to improperly take money from your checking account.

Legal Helpmate http://www.legalhelpmate.com Consumers across the country are complaining about unauthorized debits (withdrawals) from their checking accounts. Because fraudulent telemarketers have found yet another way to steal your money, this time from your checking account. 2006-09-20T16:57:05Z 2006-07-25T00:00:00Z 2006-07-25T00:00:00Z

It seemed logical that the credit scoring system would provide some relief from the excessive load of paper necessary for home loans.

Legal Helpmate http://www.legalhelpmate.com You have probably heard about credit scoring if you have tried to get a loan recently. Credit scoring models have been used in the mortgage industry since 1994, when Fannnie Mae and Freebie Mac started using them for ease in gauging your ability to repay loans. They had been in use for a long time for auto lenders and credit card issuers. 2006-09-20T16:55:58Z 2006-08-08T00:00:00Z 2006-08-08T00:00:00Z

Many times the creditor does not re-verify in time or the credit bureau is busy and does not handle your dispute properly. This credit record must then be deleted from your credit report.

Legal Helpmate http://www.legalhelpmate.com Credit score repair involves techniques for removing negative credit records from your credit report. These are the exact same methods credit score repair clinics and attorneys may charge up to $3,500 to perform. It is also possible to outsmart creditors who are damaging your credit score. 2006-09-20T16:55:05Z 2006-08-22T00:00:00Z 2006-08-22T00:00:00Z

Secure copies of all three of your current credit reports. The Credit Bureaus must send you copies of your credit file, free of charge (free credit report) if you were recently denied credit. We advise against having anyone you know get your credit report for you because this creates an "Inquiry" on your credit report, usually a negative situation because it makes it appear as if you are trying to borrow money from somewhere.

Legal Helpmate http://www.legalhelpmate.com If you try to get a copy of your credit report, the credit bureaus have a right to request a copy of your social security card, but only give a copy of your credit report the front. They also may request a copy of something showing your address if it is different than what is showing on the credit report. Send them a billing statement that has your address. Do not send them a copy of your driver’s license as they request. Remember these credit bureaus sell your information, not only for credit, but also for promotional reasons.