Where To Get Free Assistance Online

If you feel that you need help from your state Attorney General when having a financial or business dispute, you can contact them either by mail, by phone or via the Internet:
http://www.naag.org/ag/full_ag_table.php
If you need to contact your state's BBB, you can locate the nearest office online at:
http://lookup.bbb.org/

Equifax Offers 'Opt-Out' Options

You have the right to "opt out" of Equifax's marketing lists, and stem the flood of annoying credit and insurance marketing offers that fill your mailbox.

Your name and address can be taken off the lists Equifax maintains and sells to third-party marketers.

You can either write to or call Equifax requesting that they quit selling your name to marketers, and include your full name, your address, your Social Security number and your date of birth so they can take immediate action.

Mail your request to:

Equifax Options, PO Box 740123, Atlanta, GA 30374-0123.

Or, you can call their toll-free number and do the same thing:

1-888-567-8688

Unfortunately, there isn't an online "click here" option. Yet.

Equifax is but one of three major credit bureaus. Find out how to contact all three major bureaus.

Read Equifax's outline of consumer rights at:

http://www.equifax.com/universal/fcra.shtml

What Good Are Credit Cards Anyway?

Sometimes it's a good idea to take all the credit cards out of your wallet and wonder why they are there in the first place.

I cleaned out my wallet the other day and removed several cards from department stores I seldom shop at, and one credit card that I no longer use. Why carry them?

I suppose it's the "what-if-I-need-them" syndrome at work. What if I get in a pinch and need to make a car repair? What if I accidentally wind up at the Mall and find a sidewalk sale at this particular store that is just such a deal I'd be a fool to pass it up? What if...

Seems like that's the problem with getting into debt with credit cards in the first place: We begin to lean on them to heavily in case of emergency or special deals. Then, silently, they pile up a hefty balance. If we are late making the payments, WHAM, there's another late fee, a nick on our clean credit file... and we've taken steps backward!

Better to remove the ammunition to your own financial funeral yourself. Clean out those wallets guys! Clean out those purses, ladies! Stash those cards away, out of sight and out of mind. Some of the cards probably need to be cancelled. If so, do it. If you do indeed see a need for these over the next year, then hide them away in a dark drawer.

Yes, credit cards ARE handy when they come with product protection. If you find a terrific closeout bargain, and you can take advantage of using the protection feature on an electronic item, then having those cards tucked away in your wallet is OK.

Man, is that wallet thinner now! Reminds me of that great Seinfield episode where George....

Pay Down Debt, Improve Credit Score

Get started fixing your FICO credit score by reaching into your wallet or purse and pulling out the plastic.

It's time to get serious about debt....

Your goal is to reduce your outstanding balances on all your credit cards. It's been reported that nearly one-third of one's FICO credit score -- 30% -- is based on the ratio of your credit limits and how much you owe on each credit card account.

Following through with maintaining this ratio on your own cards will go a long way to improving your own credit score.

Make it an iron-clad rule with yourself that you don't use more than 30-50 percent of your total available credit. This means knowing what your credit limit is, knowing how high the balance is, and making a deal with yourself that this balance will start coming down immediately!

So right now, do this: Turn those plastic cards in your hand over and call the toll-free numbers on the back of them. On a single piece of paper, write down the balance due, available credit left, next minimum payment amount that is due, and the due date.

List all the cards you have, whether you use them or not.

Now, write down in the left column, next to each, what your payments will be if you double the minimum payment this month. Total them up, and make plans to pay this new amount starting with this month's payments.

This could mean sacrificing spending money on something else. This could mean selling something so you can free up some monthly income to cover these newly self-imposed credit card payment increases. Whatever you need to do, do it. It will be worth it.

Having a credit card that's maxed out with a $1,000 credit limit tends to hammer your FICO credit score harder than if you have a $15,000 credit line on your credit card and you carry $5,000 in outstanding debt.

You can sometimes call the card issuer and request that they increase your credit limit to get you to this ratio, but it's easier to pay down the debt and eliminate the amounts you owe. Besides, having more debt could even be too tempting at times, and you definitely don't want to pile on any more to your credit card balances!

But by following the strategy listed here, you'll be taking action yourself to fix the problem, and within 6-12 months, with determination and discipline and good spending habits, you'll be amazed at how fast these credit card debts will disappear.

Yes, I know other credit guru's recommend paying down the credit card with the lowest balance, or the credit card that carries the highest interest rates first. That's a great strategy, but you need to first get your card balances in ratio to help improve your FICO score... then you can start down the path of debt reduction.

It's a good idea to always keep your oldest credit card, even if it isn't getting used any longer, as the longer you've had credit, the better. But don't keep the card if there is a stiff annual fee, it may not be worth it. Keep the next oldest card you have that carries no annual fee.

Tax refunds paying down debt, survey says

So how are you planning on spending your 2005 income tax refund?

According to USA Today, most Americans says they'll pay down their debt (47%), more will put the extra money into savings (35%) and some will spend their refund on everyday expenses (26%). The percentages add up to more than 100% because multiple responses were allowed of the 7,209 participants who took the survey.

It's great to see that about half of the people who took the survey plan to pay down their debt, though they'd have saved more money by adjusting their W-4 withholding, and applying the extra money all thoughout the year onto their debt.

Automatic payroll deductions are a great way to build an emergency fund. The contributions are made to your account and every 3 or 4 months, you can make a lump sum payment on credit card debt or auto loan debt (generally, these have the highest interest rates) and get yourself out of debt faster.

For more free information about how to get your debt under control, visit FindHow2.com today.

Starting New Credit File Risky Business

Sometimes, in desperation to take a short cut to fix their credit report, a consumer might fall victim to scams that promise an easy solution to their financial problems.

Be wary of firms that promise an easy way to solve your credit problems by offering ways to start a new credit file.

It could be illegal, and it could wind up casuing you more problems than it solves. While the lure of starting a fresh credit file sounds appealing, the fact is, it's a simply a series of tall tales that will get you into hot water.

We posted the following article at FindHow2.com -- "Why getting new credit file is a bad idea" to help you steer clear of this type of scam.

Paying all your debts of time, ensuring that errors are removed from your credit report, and the passage of time are the three ways to overcome a poor credit history. It can be done. Just not the way scammers promise you. Stick to the simple steps we've outlined here at at our website, FindHow2.com, and you'll have all the tools you need to fix your own crdit yourself to improve your FICO credit score.

Mistakes Can Lower FICO Credit Score

Did you ever wonder why errors show up on your credit report?

According to MyFICO.com, errors in a person's credit report might mean their file is incomplete, contains information about another person, or any number of reasons:

Sometimes it's a simple credit report error like transposing numbers in a social Security number.

Sometimes it's a different name. A woman gets divorced, then remarries. A man applies for a credit card using an informal name ("Pete" instead of "Peter," etc.)

Sometimes a clerical error is made. A hand-written application might be illegible by the person typing the information into a computer system.

Sometimes a bank will be bought out, and credit information appears in both records (this has happened to me for a truck I had financed at a local bank that was later bought out by a national firm).

Sometimes payments were applied to the wrong account. Without checking your credit report, you'd never know that there was a late charge a year ago on an account.

Sometimes accounts you THOUGHT you had closed out and stopped making payments on actually are still open and are showing late fees.

Having credit report errors will not prevent you from getting credit. But errors -- whether they are your fault or not -- could effectively lower your FICO credit score. Having a low FICO credit score, in turn, could mean that you'll be paying more for refinancing your mortgage or getting a home equity loan at favorable terms.

Our suggestion: Get your free credit reports from AnnualCreditReport.com and check them over for accuracy. Also, take action and follow the free tips we've assembled at FindHow2.com to fix your own credit and improve your credit report.

Your credit score is a reflection of your own personal credit history, it is not etched in stone. Take action to improve your credit score, and you'll see your FICO credit score start to rise and the interest you'll be offered on future loans begin to drop!