Exposing Today’s Biggest Credit Repair Myths

If you’ve spent any time at all online researching credit repair, you probably realize that there is a lot more information available than you may have thought.

Unfortunately, some of this information is very misleading. In fact, it can be categorized as misinformation or myth. With that said, let’s now take a look at some of the biggest credit repair myths and expose them for what they are today.

Myth #1: Credit Repair Will Never Work

Some people have unfortunately tried to repair their credit, but since they did not know the art and science needed to make the necessary changes, they automatically assume that it doesn’t work.

Nothing could be further from the truth.

While it certainly isn’t the easiest thing to accomplish, credit repair is certainly possible, and when done correctly you will be able to turn a bad credit score into an acceptable one. And with enough time, patience, and effort, you’ll be able to raise your credit score to the highest levels.

For starters, many credit reports are currently filled with errors. As a matter of fact, it’s estimated that around 80% of American credit reports (four out of five) actually contain errors.

By having these errors removed from the report, you will immediately have a positive impact on your overall score. And that’s just scratching the tip of the iceberg. So, it is certainly possible to improve your credit score. This is a myth that many people unfortunately believe to their own detriment.

According to CreditRepairServices.co, a website dedicated to helping you decide whether you should use a service to repair your credit or not, “To dispute an item on your credit report, you must submit requests in writing to both the reporting agency and the information provider.”

Myth #2: It’s Impossible to Remove Verifiable Negative Information from Your Credit Report

This next statement is almost true some of the time, but it’s definitely not true all the time. And if you take it literally, you are going to be misled.

As an example, let’s say that you have a negative item on your credit report. And let’s assume that this negative item can certainly be verified. Just because it can be verified, doesn’t mean that it actually will be by any stretch of the imagination.

The Fair Credit Reporting Act says that a credit bureau has to investigate and then verify within a reasonable period of time in regards to any item that you have a dispute with on your report.

If information is discovered to be inaccurate, or it’s impossible to verify it, then the reporting agency has to promptly verify the information. Looking at this from the context of the reporting agency and the expected reasonable timeframe, they will literally have 30 days to make the verification.

And if they cannot, then they have to legally remove this negative information from your report altogether.

Myth #3: You’re Going to Get Scammed If You Deal with a Credit Repair Agency

Some people unfortunately have it in their head that each and every credit repair agency is a scam. Unfortunately, this industry gets a bad rap because there are some agencies out there that are willing to scam people. But that doesn’t mean every agency is filled with scammers.

On the contrary, there are plenty of great companies out there that help lots of people repair their credit scores. It all comes down to doing your research to find a great company that will stick with you throughout the credit repair process.


As you can see, there are some serious myths in relation to credit repair. Do your best not to fall for this misinformation any longer.


How Do Credit Repair Companies Work?

Everybody knows how difficult their \ life becomes when they have bad credit. It’s nothing pretty and you’ll be much better off if you can avoid going this route.

Honestly, when your credit is in the toilet, you’ll have a tough time getting a cell phone, getting a car loan, getting a mortgage will be nearly impossible, and nobody’s going to want to give you a credit card.

Plus, even landlords are now using the credit system to evaluate you as a potential tenant. And if your credit score is low, your chances of getting the apartment that you’ve always wanted become really slim.

There is hope though. Credit repair companies can help you turn it all around. When everything else you’ve tried has failed, it’s sometimes best to bring in the experts to help you get your credit score number high enough so that people and companies no longer consider you a bad credit risk.

What Exactly Do Credit Repair Companies Do?

Now, it is possible to do everything that the credit repair companies do yourself, but it might not be the best choice for you for a number of different reasons.

Maybe you lead a very busy life and just don’t have enough time to deal with the hassle of arguing, fighting, and going toe to toe with the three credit bureaus. Or maybe you are afraid that you’re going to make mistakes – which happens all the time – and you’d rather not put in all that work to find out that you did it for nothing. Instead, you’d be happier letting the experts handle your case.

If that’s how you feel, then here’s what you can expect the credit repair companies to do for you.

  1. They will contact TransUnion, Experian, and Equifax and request a copy of your credit report.


  1. They will comb through your credit reports and discover all negative information represented there. At this point, they can organize your information to prepare for the next step.


  1. They can use numerous proprietary strategies to dispute the negative blemishes to have them removed. In some cases, they’ll have to deal directly with the credit bureaus, and in other cases they’ll have to negotiate on your behalf with your creditors.

According to CreditRepair.Company, experts that can see if credit repair companies are worth it, “Sorting the few legitimate ones from the mediocre services and scam attempts can be a major task. A good solution is to know what to look for in a reputable company.

What Can’t a Credit Repair Company Do?

Now that we know what the credit repair companies are capable of doing for you, will also take a look at the one thing that they cannot do because it’s not within their power or right to accomplish.

First off, you must have an established credit history in order to have it repaired. So if you’re just starting out in life and you have no credit because you have no credit history, the credit repair company isn’t going to be able to do anything for you.

You’d have to build up a credit history first and then make mistakes in order for them to fix it. So at this point you’d have to take the necessary steps to begin establishing a credit history.

If you cannot get a credit card because of your nonexistent credit score, you could always take out a secured credit card and use that to build credit.


As you can see, credit repair companies definitely offer a valuable service. If you cannot accomplish these tasks on your own, it’s definitely worth it to hire someone to take on your creditors and the credit bureaus for you.


Build Real Wealth With Penny Stocks: Tips From Timothy Sykes

Investing in stocks is not only exclusive for hedge funds. Even ordinary individuals can buy stocks at cheaper prices and even make good profits from penny stocks.

However, there is risk involved with penny stocks, so it’s recommended you only invest the amount you can afford to lose. One of the easiest ways to put money into the stock market short term is to use personal loans for bad credit but not payday loans.

In trading penny stocks, there are many things you should consider. It’s true that there are many traders like Timothy Sykes who have become successful in trading penny stocks, but they have gone through valuable lessons to where they are at today.

The good news is you don’t have to go through the same mistakes as today we will be going over penny stock advice from Timothy Sykes himself. Let’s get started!

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  1. Don’t Be Blinded by Penny Stock Promoters

Most penny stocks are not traded in larger regulated exchanges such as NYSE or AMEX. The most common reason is that these stocks have not been able to meet the requirements of the securities exchange commission (SEC).

The truth is that 99% of penny stock companies aren’t likely to become successful. This is the reason why they are categorized as penny stocks. This is why penny stock promoters work hard to convince people to invest in them.

  1. Have a Realistic Profit Projection

If you are a beginner, you are probably wishing to double your money within a very short period of time. The problem is that trading in penny stocks doesn’t consistently offer such opportunities. There are times your profit is high, but there are times your losses are high as well.

Timothy Sykes only settles for about $0.50 profit per share for every trade he makes every day. With this profit projection, he can get in and out of trades frequently within the day.

  1. Do Not Underestimate Risk

When trading penny stocks, don’t focus only on opportunities; instead, measure the amount of risk based on time. You should respect the risk involved in trading penny stock as much as you respect the corresponding opportunities. The higher the return you want, the higher is your risk.

Sometimes, the market can be deceiving as you can see a consistent upward trend that will convince you to make a decision. However, right after you jump in, prices may drop to its historical low even just after a few minutes. This is a common scenario in penny stock trading, so you have to be careful all the time.

  1. Record Your Success

When you make some winning trades, you should create a personal trading journal. Although most trading platforms automatically saves data and provides comprehensive analytics; it’s still best you keep your own record in a manner that isn’t too complicated for you.

  1. Don’t Forget Yourself

It’s common for traders to spend all day monitoring the market and to spend all night studying it for the next day’s trading.

Because of this, most traders forget to eat or sleep. Don’t forget the market, but don’t forget yourself, too.


Investing in penny stocks is becoming more and more popular these days. On the contrary, more and more people also become cautious of trading this type of stocks.

This is because there are more losers in this type of trading than winners. If you want to increase your success in trading penny stocks, the above tips from Timothy Sykes are worth pondering.


Personal Loans for People with Bad Credit

A bad credit score is one that is below 630 points. However, bad credit should not stop you from getting a personal loan.  Some online lenders deal specifically with people who have a bad credit score. They take your credit history and score into account when deciding whether to give you money; moreover, online lenders have requirements that are more flexible than those of banks are.

Although bad credit loans from online lenders can be good for most people, you should visit your local credit union whenever you need a loan. Credit unions offer lower rates of interest and flexible loan terms, even for people with bad credit. The highest interest rate that a federal credit union can give you is 18 percent.

If you do not qualify for a credit union loan, you need to compare offers from several lenders before you agree to take out a specific loan. Bad credit loan rates usually vary drastically from one lender to the next, depending on the underwriting requirements.

How to compare loans for bad credit

To get the best rates for personal loans for bad credit, you need to compare several lenders. Borrowers with fair or bad credit scores, which are a result of high credit card balances or late payments, usually pay more for personal loans than those with good credit pay. You should consider securing your loan by having a cosigner who has good credit or using collateral. Remember that even the highest rate of interest from an online lender is much lower than that of a payday loan.

The key deciding factors when choosing a loan should be the rate you will pay, including monthly payments and other fees. However, if you have bad credit, you should also look for the following:

Does the lender report to credit bureaus? – A lender that reports loan repayments to the major credit bureaus will assist you in improving your credit score. This means that you should only consider the lenders who report to the major credit bureaus.

Can I prequalify with soft credit checks? – Most lenders usually pre-qualify borrowers with a soft credit check. Doing so allows the borrower to see your monthly payment and rate before a loan is approved. However, most lenders do a hard credit check for final approval, and this may lower your credit score.

Are there ways to reduce my rate? – You may be given the choice to reduce your rate over time if you show that you are financially responsible by building savings and paying your debts down.

Secured and co-signed loans

If you have trouble making multiple debt payments, you should consider a debt consolidation plan. This kind of loan usually combines all your monthly payments into one big payment with a lower rate of interest – this could save on money in the end. If your credit score is preventing you from getting an unsecured loan, you should try your luck with secured loans.

Real estate properties and cars are the most common types of collateral used to secure loans. A few lenders will also allow bad-credit borrowers to use a cosigner who has good credit. You might get a lower rate of interest if your cosigner has an excellent credit score. However, you should know that if you default on paying the loan, your cosigner would be responsible for paying it.

Are you borrowing money to pay off another loan? A personal loan is the best option if you have a plan for handling your debts. Starting a savings habit and making a budget are the first steps towards building a better financial future.


How to Get Approved for a New Credit Card

As an adult in today’s world, it’s absolutely necessary to have good credit.

When you have good credit, you can make larger purchases, like buying a new home or a new vehicle, and believe it or not, many jobs and landlords are now running credit checks on people.

So, if you do not have a credit card at this point, it’s time to apply for one right now so you can start establishing credit, boost up your credit score, and become much more attractive to potential lenders, employers, and landlords.

Before applying for a credit card, read through the information being shared today and learn everything that you need to know in order to get quickly approved for a new card.

What Is Your Credit Score?

First and foremost, prior to applying for a new credit card, it’s important to learn your credit score ahead of time.


Well, by knowing this information ahead of time, you’ll be able to choose the best card that is appropriate for your current situation based on your score.

There are a number of different companies that will give you a credit card even if you only have fair credit. And on the other side of the coin, there are also companies that provide credit cards to people even if their credit is poor.

From a different perspective, people looking to get bonuses and rewards cards are going to need excellent credit in order to qualify to receive a new credit card of this nature.

According to Apply for Credit Cards, a website sharing info about easy credit cards to apply for online, “The first step you must take when you decide you want to apply for any credit card is to know your current credit score.”

As you can see, it’s very important to know your credit score ahead of time before applying. Otherwise you might apply for a card that you do not qualify for and you’re going to get immediately rejected, feel disheartened, and want to give up on the process.

Lowering Your Debt

Credit scores will take a hit if you currently spend more than 30% of your credit card’s limit. In an effort to improve your credit score, you have to begin paying down your existing credit cards so that your balance is lower than the 30% threshold that affects credit ratings.

To look at it from a different perspective, if you regularly use your card and then pay off your balance, try to limit the amount that you use the card so that your balance isn’t higher than 30% of your credit availability.

As an example, let’s say you have a credit card with a $5000 balance.

If you plan to use this card, you do not spend more than 30% of your balance, or $1500, because a higher balance will otherwise have a negative impact on your credit score.

Put All of Your Income on the Credit Card Application

Now that you’ve taken the necessary steps to improve your credit score, it’s time to begin applying for new cards.

During the application process, the lender is going to calculate your debt to income ratio. So the more income you can claim, the better your chances will be to actually get approved for the card.

Card issuers need access to this information in order to make a valid decision. So, it’s best to list all sources of income on your application.

Examples include income from your full-time job, part-time second job income, side job income, money that you earn online, investment income, and anything else that you can think of.

Don’t Quit

You may get rejected for certain cards during the application process. Do yourself a favor and don’t give up. Just move on and apply for other cards and you’ll eventually get the credit card that you deserve.

How To Stay Afloat in Hard Economic Times

The need of preparation is emphasized in all aspects of life. Finances are not any different. Economic turbulence hits everyone, regardless of one’s financial discipline or knowledge. Without proper tactics, empires can sink and plunge into debts. You can, however, employ these simple tips and stay afloat.

Build a Saving Culture

Enough literature on the importance of saving is available on the market and social media platforms. There are also many formulas given on saving. Try and find one that works for you best and the platform that suits you. It is crucial to understand the different options available. Various saving plans exist depending on the reasons for saving, like short term, for emergency and long-term. Some extra money will make it possible for you to transition when the unexpected happens like job loss or regular income stops.

The platform you choose or method will most of the time determine the funds’ accessibility. If you save in bonds, for example, remember this is not money you can withdraw when in need.

Cut Down On Expenses

This may sound obvious or ridiculous, but it is essential. For you to know what to cut down on, you need to have a record of your expenses. One important and highly recommended practice in effective money management is keeping track of your expenses. By going through the list, you can quickly tell what to let go. For example, in a family case, you might decide to take public transport to work as opposed to driving. Picnics make a great family activity and tend to cost less than eating out in restaurants. Cook food at home and check in a free park. Have games and ensure everyone is involved. You will not only have fun but spend very little.

If you have students under your care, look for the best zero apr credit card for students.

For organization or businesses, this is the time to go slow on trips and team buildings. Apart from reducing the numbers, look for cheaper alternatives if they must happen. Companies have financial statements in order, and it is not hard to tell where most of the money go.

Look for Income Generating Opportunities

Many people, especially business startups close shop at this time. Turbulence always tells apart a great entrepreneur from the rest. If you can identify a product or a service that can sell during this period, consider investing in it. Recessions are always short lived. Make your products incredibly appealing. If possible, rebrand to that package you have always wished to have. Giving people a reason to buy the products will go a long way.

Couples can also agree that one of them takes an extra job. Many opportunities are available virtually, and it may be time to consider. In a case where one spouse stays at home with the children, they can sell their skills.


Yes, I just said promote your business. Advertising and publicity are some of the areas affected first in an economic recession. However, since most companies will be cutting down on extra activities like marketing, this is the best time for you to publicize your products. Use social media platforms to market, and you will save on your marketing budget while still making you publicize.

Advertising firms and companies also give good rates at this time because business is little on their end. Fewer people advertising also means more attention to the few adverts by viewers. Take advantage of the season as you never know how long it will last.

Remain Focused

Focus on what matters and keep your eyes on the bigger picture. Tough times can easily make one lose their balance and shift attention to the problems.

How Do Small Loans Work

Small or Short term loans are very different than traditional bank loans. Loan companies such as Short Term Loan Omaha generally call their loans payday loans, quick loans, or fast cash loans. These are loan options that are available to you regardless of your credit rating. It doesn’t matter if you have bad credit or even if you don’t have any credit at all. Small loans are based off of your employment and ability to repay the loan. Below, you will find a further analysis of small loans and how they work.
1 – Small loans will typically require prompt repayment

With short term loans, the interest that you have to repay is typically a little more compared to what it would be with a regular loan. Companies that provide small loans will generally require prompt repayment because of this. You will usually have to begin repaying the loan within two weeks and some companies even require the loan to be completely paid off within four. This is why small loans are often called payday loans. They offer short-term financial relief under the agreement that you will repay the loan within your next one to two paydays.

2 – Small loans have a high interest rate, but for good reason

It’s true that small loans have a higher interest rate. The small loan companies make the interest this high because of the short repayment period. The rates are usually over 150% API. API is an annually calculated interest rate. Since you should be paying off the interest in as little as two to four weeks, the 150% API does not affect you much. In fact, the interest that you pay is often less than what you accumulate on your credit cards.

3 – Be sure that you can pay the loan off within the specified terms

When you’re thinking about using a short term loan, one thing that you need to be sure of is that you can pay off the loan in full within the specified terms of your loan agreement. Short term loan companies often make a good majority of their money from repeat clients. This usually means that the client was unable to pay off their first loan and had to take out an additional loan in order to afford the repayment. This could put you in vicious cycle of debt so it’s best to know that the cash is coming before you ever sign for the loan.

4 – Small loans are generally in dollar amounts between $100 to $1,000

Most small loan companies specialize in loans that are between the amounts of $100 to $1,000. While this is still a substantial amount of money, it might not be enough depending on what you are using the loan for. Some companies will not provide more than $1,000, but of course, there are payday loan companies who will. It’s a good idea to comparison shop and finds a small loan provider that can offer you exactly what you need.
Small loans do not work in the same way that traditional bank loans do so be sure to familiarize yourself with the loan process before you agree to the loan.

Knowing how Short Term Loans work is important before applying for one. While they can be beneficial in a pinch, one must be aware that if used foolishly they could end up costing you more than you thought. Always calculate the amount you will repay and know before-hand that you will be able to do wo in a short period of time. Check Cashing Omaha NE want you know know all you can about these loans. They make it very clear without any hidden costs so every one of its customers. Feel free to contact them with any questions you may have regarding a short term loan.