CREDIT REVIEW!!! JUST A FEW FUN FACTS!

It has to be a great Momentum Monday for all my Red Phoenix Freaks!!! I hope everyone is having a successful start to your week!!! Let's get right after it freaks, lots of the same old questions and the answers don't change! Well, sometimes they do but it takes congress for that to happen!

Negative and derogatory items on your credit report, paid or not paid will be on your credit for 7 long years!!!! The old phrase of; the collection company said... B as in B and S as in S!!! Get it in writing friends, or I'll be getting it deleted for you.

Judgments, Bankruptcy are going to be on your credit for 10 years, tax liens can go right into the mix. ***Judgments and tax liens can be re-upped after 10 years if they are not settled or paid.***

Foreclosures, well this is up for debate. It has been very common that this once would come off after 10 years. Do to all the recent activity over the last few years it appears that they are wanting to keep it on forever. However, you can request it to be deleted for age / old account.

**DISPUTES** Hate it when people dispute things with the bureaus and say negative items don't belong to them when they do. Lying to the bureaus and disputing items won't do you any good at all. There are legal ways with in the Fair Credit Reporting Act to get items on your credit corrected and or deleted. However, I'm not an attorney and won't tell you how that exactly gets done. Please don't send out letters disputing the negative items. When you do that, you are raising flags to underwriters who you are trying to obtain credit from.

Lastly, items that are aged after the 7-10 years and for whatever reason are still on your credit report?!?! Guess what friends, you have to write to the bureaus that they are reporting on and request them to remove it. It happens all the time, there is a lot of data and a lot of humans. There are many other things to be mad at the bureaus for than that. Write the letter and get it done.

Short and sweet today friends and freaks! If life finally happened to you, feel like that shit sandwich is to big to handle, let me help. Point is, embrace the suck and let's rock this so you can get back into life! if you need me, I'm always around...


john@redphoenixco.com