Credit Crisis Far From Solved, More Bad News Coming

We've been amused to watch all the hoopla breathlessly streaming through the media mouthpieces this past week as they breathlessly report record holiday shopping sales. Here's a report from Brett Arends at MarketWatch.com you need to read and pass along to everyone you know before you and your friends get swept up in the "Happy News" ...

The U.S. consumer is still broke... The numbers are not heartening. Despite the lies you read and hear, telling you that American consumers “are repairing their balance sheets,” the truth is total household debts in this country have fallen by a mere 4.5% from the record peak at the height of the bubble a few years ago. They are still 20% higher than they were as recently as 2005, and twice what they were in 1999. According to the Federal Reserve, consumer credit levels are rising. And according to the Commerce Department, households are saving less than 4% of their disposable incomes — a fraction of the levels seen decades ago, and well down even from 6% or more seen in 2008-9.

Read his full article here and be warned for bad news on the horizon: 10 reasons the crisis isn’t over

Contacting Creditors Helps Speed Up Credit Repair Process

Svilen Andreev notes an important factor when you begin writing and mailing credit repair letters to fix your credit history:

Since credit reporting companies are the prime source of information for the lenders to judge your credit worthiness, it is important to send your credit repair dispute letters to these credit reporting companies/bureaus. However, this doesn’t mean that you should not send the dispute information to the erring creditors in question. In fact, it is a good practice to send all the dispute information and documents to the creditors as well… it might help speed up the process and the creditors cannot claim that they didn’t receive complete information on the dispute from credit bureaus.

Read his full credit repair letter article here:

http://www.smart-debt-solutions.com/credit-repair-letters-6-things-you-must-remember/