FORECLOSURE PREVENTION INSTITUTE, LLC

If you have questions regarding your credit, call Dreamlighters, LLC today.  1 800 826-1929.  We will help you to improve your credit.  Ask the wizard?

The wizard will

1.  Determine potential

2.  Take action

3.  Identify critical factors (accounts hurting & helping)

4.   Verify info & accuracy

5.  Refer to a competent credit counselor

Dreamlighters' FPI, LLC 

956 Innes St. NE   Grand Rapids, MI 49503

271 Viking Dr, Battle Creek, MI 49017 

Tele #: 1 800 826-1929 or 616 217-7834

Fax:  269 962-2053 

 

 

Take Action Today and Apply For Debt Settlement By Clicking Here

A Credit Plan and Map to Raise or Restore Your Credit Score

First, Understand How Credit is Determined

Credit is Based on 4 Factors

(See diagram below)

Suggestions on how to Raise your Credit/FICO Score

1.  40% of your credit is based on payment history.  The easiest way to raise your credit score is to pay your bills on time.  Pay your bills as soon as they come due, or if you can't then at least mail your payments no later than 14 days after due date.  As long as bills are paid within the 30 day limit, you will not be penalized.   Remember it,  may take 24 to 72 hours (1 or 2 business days) for your account to be credited, so don't wait until the last day to pay your bill.

2.  32% of your credit is based upon revolving credit (credit cards).  How many times does a person pay on time over a 1 to 2 year time span. (eg.  Is this person late 1, 2, or 3 months or more?).  Also, one's credit line is considered.  (eg.  Is the person maxed out on his line of credit.)  To raise your credit score use only about 30% of your credit line.  Keep 70% of your credit line open.  If you have maxed out your credit line, pay a little bit more than your minimum payment due to work on getting that credit line back into the 25% range.  If you can pay off your balance each month, but do not close the account.   If you have old collections, have a credit professional delete those collections from your credit report before you go and actually pay-off the charges (otherwise those old credit lines are reactivated and may actually cause your credit to drop).

3.  18% of your credit is based on the length of established credit.  How long have you had that credit card, car payment, mortgage etc.  Try to establish 3 or 4 lines of credit that are 3 years old or more.  If you don't have a credit card, find $500.00 and establish a secure credit card through places such as Chase Bank or Capital One.   Note:  To raise your credit score, it's best not to pay-off your charges each month, but make timely minimum + payments.

4.  10% of your credit is based on new credit & inquiries.  Use your credit wisely.  Three to 5 credit inquiries within a few month time frame will drop your score by perhaps 15 points or more.   If you have a new car or boat payment, it may take 6 months of timely payments before you will see a rise in your credit score.   

     You may be able to repair your credit yourself, but often times a professional is needed to restore your credit.  There are 3 private credit reporting companies:   (Note:  These are not governmental agencies.)

1. Experian                         1 888-397-3742
2. TransunionEmpirica         1-800-680-7289
3. Equifax                           1-800-525-6285

     Your credit report(s) are just like a report card.  You need to be pro-active and manage your good credit.   Monitor your credit reports on a monthly basis.  If you see something wrong, inquire within and pursue through written documentation.  Know that these three credit reporting agencies  make more money and profit the most by reporting negative information.   Each credit company also reports and stores information differently, and they do make mistakes just as does the various places that you do business when it involves reporting credit.   You may experience very poor customer service.   Letters of apologies and letters indicating errors on business letterheads shown to the credit reporting agencies will go far in correcting and improving your credit.  Professional credit analysts and attorneys sometimes are helpful in getting attention and better customer service.   Taking personal interest/action in your credit report will ultimately help  to save you money as a consumer; and will also help to protect you from identity theft or at least minimize the damage that can be caused from identity theft.

     To learn more about identity theft and how to deal with its consequences, visit www.consumer.gov/idtheft, or write to the FTC.   You may have additional rights under state law.  For more information, contact your local consumer protection agency or your state attorney general.

    May also want to read this excellent free credit report e-book.  The "Free Credit Repair Kit" will help you learn the PROVEN secrets to repairing your credit and buying the home, car, or vacation of your dreams Step-by-Step...   It will also provide you with 7 simple tactics to increasing your credit score.   This book is truely a Do It Yourself Credit Repair.

     Ready to buy a home?  View this power point presentation to understand how to apply for a mortgage and what documents are needed:   Under construction 

     Need to borrow or make some money to improve your credit.  Check out "Prosper" by clicking the link below:

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