Personal Finance Tips
In Partnership With ReliefLoans.com

Creditors will measure your credit rating based on the following three main things:

Capacity

Collateral

Character

The three "C's" show creditors your:

"Capacity" or income to pay the debt
"Collateral" or assets to secure the obligation
"Character" shows your compliance to repay the debt

1. Capacity

The very first question is whether you have sufficient income
to repay the debt. Creditors will definitely check to see if
your income exceeds your expenses so that you ca comfortably
pay the debt. A creditor will then want to know:

Your income - from all sources

Your fixed expenses

Your other debts

The amount remaining from your total net income, after deducting your fixed monthly expenses and other debts, is your capacity. If your net income is $3,000 a month and your total living expenses is $2,500, then your credit capacity is an amount that requires no more than $500 in monthly payments.

If you now pay $400 a month for other credit obligations, then your remaining capacity is a $100 a month, and a creditor should extend you that amount of credit.

There are three techniques that will allow you to maximize your income:

Increase your income

Decrease your expenses (easier to do than the first one)

Reduce your other debts

2. Collateral

A lender or creditor can be secured or unsecured. Secured
lenders hold a lien against specific assets, such as real estate,
an automobile, or boat. If you fail to pay, the secured lender
can sell the pledged asset to recover debt owed. Secured lenders
seldom loan more than the auction value of the collateral.

Secured credit, is an almost guaranteed way to rebuild your credit. Even with poor credit, a lender may advance your credit if you can secure the credit with a lien against some valuable asset. Many creditors extend credit entirely on the strength of the pledged assets.

Other credit considerations are either ignored or carry comparatively little weight in the credit decision.

What can you use as a collateral to secure your debts and rebuild your credit? You may be appreciably wealthier than you think. Add the value of your various assets (property that you own) and subtract any existing mortgages or lies against those assets. The difference is your equity or net worth in the asset.

This is what you have available to secure a loan. Do not overlook any asset:

Home

Investment real estate

Stocks, bonds, mutual funds,

Automobile

Boats, planes, recreational vehicles

Notes and mortgages due you

Art, jewelry, antiques

Pensions, IRAs, and Keoghs

Royalty income

Income from trusts

You may have other assets to pledge. The point is that collateral
gives you a borrowing power approximately equal to your equity
in your assets. Regardless of your credit history, if you have
collateral worth a solid $100,000, you should be able to borrow close to that amount.

3. Character

Creditors next consider your character. How important this is
depends upon the type of credit, and who your creditors are.
Asset based lenders rely chiefly on collateral, and they are
less concerned with your character than are unsecured creditors
who can only rely on your prior reliability for honoring your obligations.

When creditors check your character, they basically look at
how you satisfied your past obligations. Meaning they want to know:

How many credit defaults have you had?

What was the reason for the defaults?

How recent are they?

Do you own your own home?

If you rent, for how long have you rented the same apartment or house?

Do you have a checking account?

Do you have a savings account with regular deposits?

Do you have a payroll savings plan at work?

Do you have a telephone in your own name?

Do you have a criminal record?

Have you filed bankruptcy?

Positive answers to these nine questions will often offset
an otherwise negative credit report. Basically your credit
character boils down to your credit history in the past.
In the eyes of creditors, if your past credit character
is good, there is no reason to believe why your future won't look promising.

About The Author

Omar M. Omar is the owner of DeleteUglyCredit.com. The website is dedicated to provide credit consumers with information about their credit right and how to dispute inaccurate information on their credit report. Omar M. Omar is also the author Of "The Credit Repair Bible" book

1. Save up to 50% per month on convenience cleaner cloths by cutting them into half, i.e. dryer softener cloths, face cleanser cloths, etc. Savings: $5 per month.

2. Find more thoughtful gifts and buy when the item is on sale, shop for birthdays and holidays throughout the year not at the time of the events. Savings: $10 per month.

3. Bring your lunch to work once a week instead of eating out. Savings: $7 x 4 weeks = $28 per month.

4. Don't go to the coffee shop on the weekends. Savings: 2 visits @ $2 = $4 per week x 4 weeks = $16 per month.

5. If you carry a balance on your credit card, and you're only able to afford paying the minimum monthly amount, pay weekly installments instead of one monthly payment. For example, if you owe $100 per month, pay $25 per week. Because credit card companies accrue interest daily on your balance, paying only once a month is a huge detriment to your fiscal health. Savings: $10 - $100 per month (or more!).

6. Instead of a family night out, consider having an old fashion picnic together or a bike ride. Curbing entertainment costs doesn't mean curbing the fun. Savings: $25+ per month.

7. Spend a day cooking meals that can be frozen for later use for your family. Once a Month Cooking, a book by Mary Beth Lagerborg and Mimi Wilson, features grocery lists and recipes to prepare and freeze a month's worth of food for you and your family. Not only are you able to purchase the food in bulk, this method prevents having to throw away any spoiled food. Savings: $50+ per month.

8. If you are a regular monthly book buyer, stop the habit and visit your library instead! If you insist on buying books, buy it used at your local store or online at merchants such as http://www.half.com/ or http://www.amazon.com/. Even a better idea, how about selling the books you have that you don't need! Savings: $5 - 15 per month.

9. Use less expensive gasoline. If you live in North America and have Internet access, you are able to search for the cheapest gas price in your neighborhood with Gas Buddy, http://www.gasbuddy.com/. Savings: $5 - 15 per month.

10. Use two-for-one coupons when dining out; search for these in local newspapers, flyers, and in your "junk mail." If you are a group of four or more people, consider buying dining certificates at Restaurant.com, http://www.restaurant.com/. After choosing your city and state on the Website, you will be presented with a listing of restaurants vying for your dining dollar! Savings: $5- $50 per month.

--------------------------------------------------------------------------------
About The Author:

This is an excerpt from ONE PAYCHECK AT A TIME, http://www.onepaycheckatatime.com/, by Kimberly A. Griffiths, ISBN: 1591133327. ONE PAYCHECK AT A TIME, a 200 page workbook, contains budget management exercises for an entire year of paychecks. The author, Kimberly A. Griffiths, has been through the vicious cycle of debt herself, and provides a no-nonsense system to managing your money paycheck to paycheck. You customize the journal based on your pay schedule and learn the necessary tools for making ends meet.

• Shop around for credit card terms that are best
  for you.
• Make sure you understand the terms of a credit
  card plan before you accept the card.
• Pay bills promptly to keep finance charges as low as possible.
• Keep copies of sales slips and promptly compare charges when your bills arrive.
• Draw a line through blank spaces about the total when you sign receipts.
• Keep a list of your credit card account numbers and the telephone numbers of each card issuer in a safe place in case
  your cards are lost or stolen.

Chances are you have received offers in the mail asking if you would like to open credit card accounts. Frequently, these offers say that you have been "pre-approved" for the card, with a line of credit already set aside for your use. Typically, these offers urge you to accept quickly, "before the offer expires." However, before accepting a credit card offer, understand the card's credit terms and compare costs of similar cards to get the features and terms you want.

Choosing a Credit Card

Credit card offers may seem attractive, but remember a credit card is a form of borrowing that usually involves a "finance charge" -- a charge for the convenience of borrowing -- and often other charges as well.

Credit Card Terms
Before selecting a credit card, learn which credit terms and conditions apply. Each affects the overall cost of the credit you will be using. Under the Fair Credit and Charge Card Disclosure Act, you can compare terms and fees before you agree to open a credit card or charge card (no interest) account. Be sure to consider and compare the following terms that direct-mail applications and pre-approved solicitations must reveal.

* Annual Percentage Rate.
The "annual percentage rate," or APR, is disclosed to you when you apply for a card, again when you open the account, and it is also noted on each bill you receive. It is a measure of the cost of credit, expressed as a yearly rate. The card issuer also must disclose the "periodic rate" -- that is, the rate the card issuer applies to your outstanding account balance to figure the finance charge for each billing period.

Some credit card plans allow the card issuer to change the annual percentage rate on your account when interest rates or other economic indicators (called indexes) change. Because the rate change is linked to the performance of the index, which may rise or fall, these plans are commonly called "variable rate" plans. Rate changes raise or lower the amount of the finance charge you pay on your account. If the credit card you are considering has a variable rate feature, the card issuer must tell you that the rate may vary and how the rate is determined, including which index is used and what additional amount (the "margin") is added to the index to determine your new rate. You also must be told how much and how often your rate may change.

* Free Period.
A free period -- also called a "grace period" -- allows you to avoid the finance charge by paying your current balance in full before the "due date" shown on your statement. Knowing whether a credit card plan gives you a free period is especially important if you plan to pay your account in full each month. If there is no free period, the card issuer will impose a finance charge from the date you use your credit card or from the date each credit card transaction is posted to your account.

If your credit card plan allows a free period, the card issuer must mail your bill at least 14 days before your payment is due. This is to ensure that you have enough time to make your payment by the due date.

* Annual Fees.
Most credit card issuers charge annual membership or other participation fees. These fees range from $25 to $50 for most cards, and from $75 on up for premium "gold" or "platinum" cards.

* Transaction Fees and Other Charges.
A credit card also may involve other types of costs. For example, some card issuers charge a fee when you use the card to obtain a cash advance, when you fail to make a payment on time, or when you go over your credit limit. Some charge a flat monthly fee whether or not you use the card.

* Balance Computation Method for the Finance Charge.
If your plan has no free period, or if you expect to pay for purchases over time, it is important to know how the card issuer will calculate your finance charge. This charge will vary depending upon the method the card issuer uses to figure your balance. The method used can make a difference, sometimes a big difference, in how much finance charge you will pay -- even when the APR is identical to that charged by another card issuer and the pattern of purchases and payments is the same.

* Average Daily Balance (including or excluding new purchases).
The average daily balance method gives you credit for your payment from the day the card issuer receives it. To compute the balance due, the card issuer totals the beginning balance for each day in the billing period and deducts any payments credited to your account that day. New purchases may or may not be added to the balance, depending on the plan, but cash advances typically are added. The resulting daily balances are added up for the billing cycle and the total is then divided by the number of days in the billing period to arrive at the "average daily
balance." This is the most common method used by credit card issuers.

* Adjusted Balance.
This balance is computed by subtracting the payments you made and any credits you received during the present billing period from the balance you owed at the end of the previous billing period. New purchases that you made during the billing period are not included. Under the adjusted balance method, you have until the end of the billing cycle to pay part of your balance and you avoid the interest charges on that portion. Some creditors exclude prior, unpaid finance charges from the previous balance. The adjusted balance method usually is the most advantageous to card users.

* Previous Balance.
As the name suggests, this balance is simply the amount that you owed at the end of the previous billing period. Payments, credits, or new purchases made during the current billing period are not taken into account. Some creditors also exclude unpaid finance charges in computing this balance. If you do not understand how the balance on your account is computed, ask the card issuer. (An explanation of how the balance was determined must appear on the billing statements the card issuer provides you and on applications and pre-approved solicitations the card issuer may send you.

Costs and Features
Credit terms differ among card issuers, so shop around for the card that is best for you. Which one is best may depend on how you plan to use it. If you plan to pay bills in full each month, the size of the annual fee or other fees, and not the periodic and annual percentage rate, may be more important. If you expect to use credit cards to pay for purchases over time, the APR and the balance computation method are important terms to consider. In either case, keep in mind that your costs will be affected by whether or not there is a grace period.

When shopping for a credit card, you probably will want to look at other factors besides costs -- such as whether the credit limit is high enough to meet your needs, how widely the card is accepted, and what services and features are available under the plan. You may be interested, for example, in "affinity cards" -- all-purpose credit cards that are sponsored by professional organizations, college alumni associations, and some members of the travel industry. Frequently, an affinity card issuer donates a portion of the annual fees or transaction charges to the sponsoring organization, or allows you to qualify for free travel or other bonuses.

Using a Credit Card
Federal law prohibits card issuers from sending you a credit card that you did not request. (The issuer may send you a renewal or substitute card without a request.) Card issuers are permitted to mail you an application or a solicitation for a credit card or to ask you by phone whether you want to receive a card -- and to send you one if you say yes.

Credit Card Protections

Federal law protects consumers when they use credit cards. The protections include the following items.

* Prompt Credit for Payment.
A card issuer must credit your account on the day the issuer receives your payment, unless the payment is not made according to the creditor's requirements or the delay in crediting to your account does not result in a charge. To avoid delays that could result in finance charges, follow the card issuer's instructions about where to send payments. Payments sent to other locations could delay getting credit for your payment for up to five days. If you lose your payment envelope, look on the billing statement for the address for payments or call the card issuer.

* Refunds of Credit Balances.
When you return merchandise or pay more than you owe, you have the option of keeping the credit balance on your account or requesting a refund (if the amount exceeds $1.00). To obtain a refund, write the card issuer. The card issuer must send you the refund within seven business days of receiving your request. (Also, if a credit balance remains on your account for more than six months, the card issuer must make a good faith effort to refund the credit balance.)

* Errors on Your Bill.
Federal law provides specific rules that the card issuer must follow for promptly correcting billing errors. The card issuer will give you a statement describing these rules when you open the credit card account and, after that, at least once a year. In fact, many card issuers print a summary of your rights on each bill they send you.

You must notify the card issuer in writing at the address specified for billing errors when you find an error, and you must do so within 60 days after the first bill containing the error was mailed to you. (For this reason, keep your credit card receipts and promptly compare them when your bills arrive.) In your notification letter, include your name, your account number, the amount of the suspected error, and the reason why you believe that the bill contains an error.

The card issuer, in turn, must look into the problem and either correct the error or explain to you why the bill is correct. This must occur within two billing cycles and not later than 90 days after the issuer receives your billing error notice. During the period that the card issuer is investigating the error, you do not have to pay the amount in question. (For further information, write: "Credit Billing Errors," Public Reference, Federal Trade Commission, Washington,
D.C. 20580.)

* Unauthorized charges.
Under federal law, if your credit card is used without your authorization, you can be held liable for up to $50 per card. If you report the loss before the card is used, federal law says the card issuer cannot hold you responsible for any unauthorized charges.

If a thief uses your card before you report it missing, the most you will owe for unauthorized charges is $50. This is true even if a thief is able to use your credit card at an automated teller machine (ATM) to access your credit card account. To minimize your liability, report the loss of your card as soon as possible. Some companies have toll-free numbers printed on their statements and 24-hour service to accept such emergency information.

For your own protection, you should follow up your phone call with a letter to the card issuer. The letter should give your card number, say when your card was missing, and mention the date you called in the loss.

* Disputes about Merchandise or Services.
If you have a problem with merchandise or services that you charged to a credit card, and you have made a good faith effort to work out the problem with the seller, you have the right to withhold from the card issuer payment for the merchandise or services. You can withhold payment up to the amount of credit outstanding for the purchase, plus any finance or related charges.

If the card you used is a bank card, a travel and entertainment card, or another card not issued by the seller of the defective merchandise, you can withhold payment only if the purchase exceeded $50 and occurred in your home state or within 100 miles of your billing address. If these conditions do not apply to you, you may want to consider filing an action in small claims court -- an informal legal proceeding that can be used to settle disputes.

While the maximum amounts that can be claimed or awarded differ from state to state, most small claims courts hear cases involving amounts ranging from $25 to $2,000. Some states have recently raised their limits to $5,000. Check your local telephone book under your municipal, county, or state government headings for small claims court listings.

Some Suggestions

* Shop around for credit card terms that are best for you.

* Make sure you understand the terms of a credit card plan before you accept the card. Review the disclosures of terms and fees that must appear on credit-card offers you receive in the mail.

* Pay bills promptly to keep finance charges as low as possible.

* Keep copies of sales slips and promptly compare charges when your bills arrive.

* Protect your credit cards and account numbers to prevent unauthorized use. Draw a line through blank spaces above the total when you sign receipts. Rip up or retain
carbons.

* Keep a list of your credit card numbers and the telephone numbers of each card issuer in a safe place in case your cards are lost or stolen.

Where To Go For Help

The following federal agencies are responsible for enforcing federal laws that govern credit card transactions. Questions concerning a particular card issuer should be directed to the enforcement agency responsible for that issuer.

State Member Banks of the Reserve System
Consumer and Community Affairs
Board of Governors of the
Federal Reserve System
20th & C Sts., N.W.
Washington, D.C.
20551

National Banks
Comptroller of the
Currency
Compliance Management
Mail Stop 7-5
Washington, D.C.
20219

Federal Credit Unions
National Credit Union
Administration
1776 G St., N.W.
Washington, D.C.
20456

Non-Member Federally Insured Banks
Office
of Consumer Programs
Federal Deposit Insurance Corporation
550 Seventeenth
St., N.W.
Washington, D.C. 20429

Federally Insured Savings and Loans, and Federally Chartered State Banks
Consumer Affairs
Program
Office of Thrift Supervision
1700 G St., N.W.
Washington, D.C.
20552

Other Credit Card Issuers
(includes
retail/gasoline companies)
Division of Credit Practices
Bureau of Consumer
Protection
Federal Trade Commission
Washington, D.C.
20580

Identity theft encompasses a wide range of deception, from a stolen credit card used to charge purchases to an existing account, to stolen information used to impersonate the victim, open new accounts (even ones for utilities), and rack up thousands of dollars in debt.

With over 500,000 new cases each year (and some say upwards of 900,000), identity theft is one of the fasting growing crimes in America. In many states it isn't even illegal, or hardly punishable if it is. Often the perpetrator goes uncaught and unpunished. Worse still is that it takes on average 12 months for the victim to realize he is a victim and by then it may nearly impossible to climb back out of the black hole of damaged credit, costing hundreds of hours and hundreds of dollars to try to fix it.

Sadly, since much of this goes unpunished, companies often write off the bad debt and then charge you and me higher interest rates and fees to cover their losses. So we all are indirect victims of identity theft. The more vigilant we become, the better off we will all be.

What can you do to protect yourself from becoming a victim of identity theft? There is no absolute guarantee, but the more precautions you put in place, the harder it will be for someone to steal your information and use it illegally. What follow below are some ideas that you can use to start protecting yourself now.

1. Check your credit reports annually.
This is your first and foremost line of defense. Contact the three major credit reporting agencies (http://www.equifax.com/, http://www.experian.com/, http://www.transunion.com/)
every year to obtain a copy of your credit report. Some websites also offer a 3-in-1 report. Go through them carefully, looking for any inaccuracies. Report any problems immediately. Consider asking them to require your permission to issue new credit lines.

2. Protect your Social Security number.
Many companies ask for your Social Security number (SSN) to use for recordkeeping. Ask if you can substitute a different number. This is especially true of driver's licenses and health insurance cards. Never give out your SSN to anyone over the phone or internet if you did not initiate the contact. Don't carry your Social Security card with you and don't have your SSN preprinted on your checks (or your phone number either).

3. Protect passwords and PINs.
Always protect your passwords and PINs from being seen by others, especially at ATMs. Don't write them down and carry them with you. Do not store passwords on your computer's hard drive. If you need to write them down, store them somewhere else. Passwords should be hard to discover (bad choices: mother's maiden name, birthdates, last 4 digits of SSN or phone number, or a series of consecutive numbers). When possible use a mix of upper- and lower-case letters, numbers, and symbols.

4. Know your billing cycles.
Know when to expect your bills. If any of them is late, call the company or agency and check on its status. A late/missing bill could mean that someone has stolen your information and changed the billing address, leaving you unaware of the charges that may be racking up.

5. Shred everything with your information on it.
All those credit card applications you receive in the mail and throw away are an open invitation for someone to open an account in your name. Invest in a good cross-cut shredder and shred all documents with any financial information on them, including credit card receipts. Then put the remnants in the yuckiest, ickiest trash you've got to discourage dumpster-divers from stealing them and putting them back together.

6. Make the post office your ally.
Deposit outgoing mail at your local post office or in a locked post office drop box. Thieves actually patrol neighborhoods, stealing mail out of mailboxes. A little acid wash, and voila!, they change the amount and the person being paid. Don't give them the chance! If you're going out of town, have the post office put a hold on your mail. Consider getting a post office box or ask your post office about getting a key-operated community mailbox for your neighborhood.

7. Technology doesn't beat everything.
Don't give out personal information over cellular/mobile/wireless phones, or cordless phones. (This includes telephone banking.) Their radio frequencies can be easily intercepted, overheard, and hacked.

Surfing the internet puts you at risk from hackers breaking into your system; consider purchasing a "firewall" program to protect your computer from outside access. When divulging personal information on the internet (for example, when making a purchase) always look for privacy policies and the little "lock" symbol that indicates your information is secure.

Don't use your email address for user IDs on websites; there are "robots" that specifically search for this on sites like eBay to try and trick you into divulging your personal information. You may receive an official-looking email asking you to "verify" or "update" your information. Remember that anyone who already has your information will not ask you to verify it. Always be suspicious of such tactics. The same goes for people who call you and claim to be somebody like a bill collector, government agent, utility worker, etc. If in doubt, call the company they appear to be representing.

If you use a laptop computer use a strong password (combination of upper/lower-case letters, numbers, symbols); don't use automatic login; always log off when finished; and don't store financial information on it unless absolutely necessary.
When disposing of your personal computer, deleting your personal information usually isn't enough. Use a "wipe" utility program to render files unrecoverable.

8. Be aware of the opportunities to steal your information.
Think of all the places that store your personal information, such as the offices of doctors, dentists, accountants, loan officers, health insurance, schools, courts, etc. Ask them how they protect your information. Request that they shred anything with personal information on it when disposing of it.

Keep your wallet or purse in a safe place at work; not all of your fellow coworkers are trustworthy. Be aware of the "Good Samaritan" scheme where your missing wallet is returned (after one of your several credit cards is removed; you have so many that you probably won't notice!). Only carry a minimum number of cards and identification with you.

9. If desired, subscribe to a credit monitoring service.
If you're really worried about identity theft, consider subscribing to a credit monitoring service. They will regularly notify you of your credit status and anything suspicious that might be going on.

10. Make a list and check it twice.
Make list of all your credit card numbers, banking account numbers, and driver's license number with their customer service numbers and keep them in a safe place. That way you'll have a starting place if something should happen to you.
Remember, the more vigilant we all are, the more protected we all are.
For more information regarding identity theft , see the federal government's website at www.consumer.gov/idtheft.

****************************
Simple Joe, Inc. Chemain Evans is a quality control specialist for Simple Joe, Inc., makers of the popular Simple Joe's Expense Tracker PC software. Expense Tracker is a quick and simple way to keep track of your expenses and stay within your budget. Expense Tracker is ideal for tracking personal, business, home and club expenses.

Creditors will measure your credit rating based on the following three main things:

Capacity

Collateral

Character

The three "C's" show creditors your:

"Capacity" or income to pay the debt "Collateral" or assets to secure the obligation "Character" shows your compliance to repay the debt

1. Capacity

The very first question is whether you have sufficient income to repay the debt. Creditors will definitely check to see if your income exceeds your expenses so that you ca comfortably pay the debt. A creditor will then want to know:

Your income - from all sources
Your fixed expenses
Your other debts

The amount remaining from your total net income, after deducting your fixed monthly expenses and other debts, is your capacity. If your net income is $3,000 a month and your total living expenses is $2,500, then your credit capacity is an amount that requires no more than $500 in monthly payments.

If you now pay $400 a month for other credit obligations, then your remaining capacity is a $100 a month, and a creditor should extend you that amount of credit.

There are three techniques that will allow you to maximize your income:

Increase your income
Decrease your expenses (easier to do than the first one)
Reduce your other debts

2. Collateral

A lender or creditor can be secured or unsecured. Secured lenders hold a lien against specific assets, such as real estate, an automobile, or boat. If you fail to pay, the secured lender can sell the pledged asset to recover debt owed. Secured lenders seldom loan more than the auction value of the collateral.

Secured credit, is an almost guaranteed way to rebuild your credit. Even with poor credit, a lender may advance your credit if you can secure the credit with a lien against some valuable asset. Many creditors extend credit entirely on the strength of the pledged assets.

Other credit considerations are either ignored or carry comparatively little weight in the credit decision.

What can you use as a collateral to secure your debts and rebuild your credit? You may be appreciably wealthier than you think. Add the value of your various assets (property that you own) and subtract any existing mortgages or lies against those assets. The difference is your equity or net worth in the asset.

This is what you have available to secure a loan. Do not overlook any asset:

Home
Investment real estate
Stocks, bonds, mutual funds,
Automobile
Boats, planes, recreational vehicles
Notes and mortgages due you
Art, jewelry, antiques
Pensions, IRAs, and Keoghs
Royalty income
Income from trusts

You may have other assets to pledge. The point is that collateral gives you a borrowing power approximately equal to your equity in your assets. Regardless of your credit history, if you have collateral worth a solid $100,000, you should be able to borrow close to that amount.

3. Character

Creditors next consider your character. How important this is depends upon the type of credit, and who your creditors are. Asset based lenders rely chiefly on collateral, and they are less concerned with your character than are unsecured creditors who can only rely on your prior reliability for honoring your obligations.

When creditors check your character, they basically look at how you satisfied your past obligations. Meaning they want to know:

How many credit defaults have you had?
What was the reason for the defaults?
How recent are they?
Do you own your own home?
If you rent, for how long have you rented the same apartment or house?
Do you have a checking account?
Do you have a savings account with regular deposits?
Do you have a payroll savings plan at work?
Do you have a telephone in your own name?
Do you have a criminal record?
Have you filed bankruptcy?

Positive answers to these nine questions will often offset an otherwise negative credit report. Basically your credit character boils down to your credit history in the past. In the eyes of creditors, if your past credit character is good, there is no reason to believe why your future won't look promising.

About The Author

Omar M. Omar is the owner of http://www.deleteuglycredit.com/. The website is dedicated to provide credit consumers with information about their credit right and how to dispute inaccurate information on their credit report. Omar M. Omar is also the author Of "The Credit Repair Bible" book.

For addtional information on this and other personal finance topics, visit ReliefLoans.com.

... you can get tons of information about bad credit personal loans, credit cards, credit scores and personal finance topics at my home site - ReliefLoans.com.

Check back daily for a new and informative article on how to take control of your every day expenses, avoid credit scams, and keep your credit rating in tip-top shape.

Bob Johnsen
ReliefLoans.com