MAKE YOUR CREDIT REPPORT PART-3

Credit Scores

Q. What is a credit score, and how does it affect my ability to get credit?
A: Credit scoring is a system creditors use to help determine whether to give you credit, and how much to charge you for it.

Information about you and your credit experiences, like your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts, is collected from your credit application and your credit report. Using a statistical formula, creditors compare this information to the credit performance of consumers with similar profiles. A credit scoring system awards points for each factor. A total number of points — a credit score — helps predict how creditworthy you are; that is, how likely it is that you will repay a loan and make the payments on time. Generally, consumers who are good credit risks have higher credit scores.

You can get your credit score from the three nationwide consumer reporting companies, but you will have to pay a fee for it. Many other companies also offer credit scores for sale alone or as part of a package of products.
For more information, see Need Credit or Insurance? Your Credit Score Helps Determine What You’ll Pay atftc.gov/credit.

Improving Your Credit Report

Under the FCRA, both the consumer reporting company and the information provider (the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under the FCRA, contact the consumer reporting company and the information provider if you see inaccurate or incomplete information.

1. Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report that you dispute, state the facts and explain why you dispute the information, and request that the information be deleted or corrected. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one on page 8. Send your letter by certified mail, return receipt requested, so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures.Consumer reporting companies must investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review the relevant information, and report the results back to the consumer reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.When the investigation is complete, the consumer reporting company must give you the written results and a free copy of your report if the dispute results in a change. (This free report does not count as your annual free report under the FACT Act.) If an item is changed or deleted, the consumer reporting company cannot put the disputed information back in your file unless the information provider verifies that the information is, indeed, accurate and complete. The consumer reporting company also must send you written notice that includes the name, address, and phone number of the information provider.If you request, the consumer reporting company must send notices of any correction to anyone who received your report in the past six months. A corrected copy of your report can be sent to anyone who received a copy during the past two years for employment purposes.If an investigation doesn't resolve your dispute with the consumer reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the consumer reporting company to provide your statement to anyone who received a copy of your report in the recent past. Expect to pay a fee for this service.
2. Tell the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if you are correct — that is, if the information is found to be inaccurate — the information provider may not report it again.

MAKE YOUR CREDIT REPPORT PART-2

The Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of the nation's consumer reporting companies. The FTC enforces the FCRA with respect to these companies. Recent amendments to the FCRA expand consumer rights and place additional requirements on consumer reporting companies. Businesses that provide information about consumers to consumer reporting companies and businesses that use credit reports also have new responsibilities under the law.
Here are answers to some of the questions consumers have asked the FTC about consumer reports and consumer reporting companies

Q. Do I have a right to know what's in my report?
A. You have the right to know what's in your report, but you have to ask for the information.
The consumer reporting company must tell you everything in your report, and give you a list
of everyone who has requested your report within the past year — or the past two years if
the requests were related to employment.

Q. What type of information do consumer reporting companies collect and sell?
A. Consumer reporting companies collect and sell four basic types of information:

• Identification and employment information: Your name, birth date, Social Security number, employer, and spouse's name are noted routinely. The consumer reporting company also may provide information about your employment history, home ownership, income, and previous address, if a creditor asks.

• Payment history: Your accounts with different creditors are listed, showing how much credit has been extended and whether you've paid on time. Related events, such as the referral of an overdue account to a collection agency, also may be noted.
• Inquiries: Consumer reporting companies must maintain a record of all creditors who have asked for your credit history within the past year, and a record of individuals or businesses that have asked for your credit history for employment purposes for the past two years.
• Public record information: Events that are a matter of public record, such as bankruptcies, foreclosures, or tax liens, may appear in your report.

Q. Is there a charge for my report?
A. Under the Free File Disclosure Rule of the Fair and Accurate Credit Transactions Act (FACT
Act), each of the nationwide consumer reporting companies — Equifax, Experian, and
TransUnion — is required to provide you with a free copy of your credit report once every 12
months, if you ask for it.


Q: How do I order my free report?
A: The three nationwide consumer reporting companies are using one website, one toll-free
telephone number, and one mailing address for consumers to order their free annual report.
To order, click on annualcreditreport.com


Q: What information do I have to provide to get my free report?
A: You need to provide your name, address, Social Security number, and date of birth. If you have moved in the last two years, you may have to provide your previous address. To maintain the security of your file, each nationwide consumer reporting company may ask you for some information that only you would know, like the amount of your monthly mortgage payment. Each company may ask you for different information because the information each has in your file may come from different sources.

Still, annualcreditreport.com is the only authorized online source for your free annual credit report from the three nationwide consumer reporting companies. Neither the website nor the companies will call you first to ask for personal information or send you an email asking for personal information. If you get a phone call or an email — or see a pop-up ad — claiming it's from annualcreditreport.com (or any of the three nationwide consumer reporting companies), it's probably a scam. Don't reply or click on any link in the message. Instead, forward any email that claims to be from annualcreditreport.com (or any of the three consumer reporting companies) to spam@uce.gov, the FTC's database of deceptive spam.

Q. Are there other situations where I might be eligible for a free report?
A. Under federal law, you're entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You're also entitled to one free report a year if you're unemployed and plan to look for a job within 60 days; if you're on welfare; or if your report is inaccurate because of fraud, including identity theft. Otherwise, any of the three consumer reporting companies may charge you up to $10.50 for another copy of your report within a 12-month period.

MAKE YOUR CREDIT REPORT PART-1

If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file is known as your credit report. It is chock full of information on where you live, how you pay your bills, and whether you've been sued or arrested, or have filed for bankruptcy. Consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses with a legitimate need for it. They use the information to evaluate your applications for credit, insurance, employment, or a lease.

Having a good credit report means it will be easier for you to get loans and lower interest rates. Lower interest rates usually translate into smaller monthly payments.
Nevertheless, newspapers, radio, TV, and the Internet are filled with ads for companies and services that promise to erase accurate negative information in your credit report in exchange for a fee. The scam artists who run these ads not only don't deliver — they can't deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit as it's detailed in your credit report.

The Federal Trade Commission (FTC), the nation's consumer protection agency, has written this booklet to help explain how to build a better credit report.

Seven Mistake in borrowing the money to bank

Many people wrong done by civilian in raising the loan to Bank. This mistake is caused ignorance they are in have invesment to in property.
First mistake,Many people raise the loan only to 1 just bank and when in refusing the world feel to desist to rotate to move forward the minimum credit 4 bank so that when in refusing us not sorrowful, by raising to many banks indicate that the serious you wish to borrow the money swiftly.

Second mistake, Many people borrow with little value and sortly time this because psychological of the people fearing owe.
If in calculation for example borrowing the money of 100 million in 5 year with 100 million in 15 more second beneficial year because longer the payment of loan time is while price property continue to go up.

Third mistake, people borrow the money when they have no money.
this is out of luck of bank only giving the loan to that people have of money. People thinking if owing mean the downhill him effort so that newly owe when him effort fall, result of of bank frown on and blame the bank why don't give loan

Fourth mistake, usually people save after lessened by this expenditure wrong once because bank see how much/many do cash yielded monthly [is] not how much/many do expenditure do the [the] mentioned hence will lessen assessment of bank to your own

Fifth mistake, gap paid for Cash advance nicer than debt and finally bought the house by tube formerly. When enough savings of price property went up and he/she fixed could not buy property

Sixth allergy, assume the bank as enemy [is] not partner. stagnance in wrong confidence, that Bank bad, fast buck is etc which be in fact important caw,

Seven mistake,Money Loan in bank there must be have conection. finally await is conection and when there no conection only can agree " just Bold of my loan in refusing caw have conection in Bank".
this is some the mistakes is often done by civilian hopefully can assist the you.

Raise The LOAN TO BANK…?

These days, amenity in borrowing the money in bank is one of [the] very inveterate facility we meet. But there are some matters to be inculcated in mind your, if we like to borrowed the money :

its same loan not yet ever been is same of course in number payment.

Mean, loan might possibly is same have difference in the case of administration expense, rate of interest storey;level, such additional expenses and delay in payment penalty.Wrong interprate in inveterate society happened is, the two loan is equal to is same rate of interest and is same redemption duration, will finish the is same expense.Matter to the is not primary factor. The expense we finish to one loan might possibly differ because his loan type and how do that interest is calculated.Simple example of him, interest rate at a ordinary loan, level of Interest Rate to be paid, pursuant to [at] debt remain the not yet been paid.Became if quicker it paying, Interest Rate to be paid will be more small.This option compatible for the you have the money earnings erratic be like entrepreneur.Other side, you it is of course have heard the instalment fixed, banks apply the instalment system be like this where, Interest Rate calculated pursuant to full scale factor of his redemption duration and loan. Tell the instalment remain to 24 months, hence his Interest Rate is calculated by during 24 months. That of him cause named by the instalment remain to.Thus, even if you pay quicker it less than 24 months, is not meaning the you not necessarily pay [for] the Interest Rate during 24 months. imposed Interest Rate and have to be paid, is fixed calculated by during 24 months.This option more compatible possible for is difficulty which is cashflow montly revenue remain to be like employees.

Loan rate of interest and costs to be paid be in fact negotiation can with bank party.

Of course bank side will not advise this matter you except you have the consanquinity partner/family both for working in bank. banks offer the very attractive loan program to each;every product type loan which they make.Progressively assure your appearance bonafide, hence progressively easy to also you is other costs and also rate of interest negotiation which imposed.Draw up the external supporter document of formal identity letter and slip salary if exist, be like bank statement of company foreign company more peeped at, the document show you have credit record the cleanness, evidence document validate of asset be like properti, vehicle, SIUP/NPWP if needed etc.Invest the leeway to survey to some credible big banks, of the banks, narrow the choice you become 2-3 bank, pursuant to redemption scheme, rate of interest storey;level, flexibility, amenity, bonus, what is interesting very according to your.Ask to pertinent bank do they can give the offer which is is better to be compared to the bank kompetitor you which have visited. Use credit record you is as weapon for have negotiation. If you have accustomed or have have taken the loan, explain to bank because usually will be more be watered down.Can also, you offer to bank to charge directly of money of account as part of scheme redemption of loan. Core of it many of the matters you can use to economize your expenditure of moment raise the loan.

Bank is very hope you borrow the money, more than the you require.

Bank wish you think that they have had the goodness to by loaning the money you according to requirement. Be in fact, this [is] not [at] context how well is liver of of bank , but rather is one compulsion and procedure fixed, remember, bank have to channel the loan [so that/ to be] can maintain his business, as according to projection early attainment goals and year per his year. The bank too over-liquid will not give many advantages to owner share.In Indonesia there are 130 bank, where 11 between its are foreign bank, readily channel the loan to your. Even some banks have served proffering of other credits and credit card application which done online throughly internet.Thus think it over, don't feel the intimidation if we like to took loan of bank.congratulation raise the loan, during for productive purpose, why is don't?

CALCULATE INTEREST RATE IN LOAN

If we will borrow the money in bank, discussion moment how much do instalment to be paid per month its of the loan we do, usually we is given or simply showed by the containing paper sheet of lines line of level of loan, a period of loan and level of instalment to be paid per month its. big Wrong if not the loan as described there the amount of hims in five millions fold or ten million.

By using function on the application MS Excel, we can make calculation of level of instalment to be paid its month;moon to each;every loans amount to be taken, including the loans amount don't written in the paper given by bank. Possible there are some ways calculation of instalment, and the I write here – according to my knowledge– at most used, for example BCA, Bank Mandiri, and BII.his Case example of, we will borrow the money equal to Rp 45.000.000,00 to a period of/to loan of 5 year. The flower applying at that moment for example 16% per year. For example we write down each this value in cell [at] worksheet MS Excel.

A1 = 45000000 A2 = 5 A3 = 16%

Calculation result of level of instalment we will put down [at] cell A5, hence to cell A5 we enter formula following:

= PMT(A3/12;A2)

The calculation will yield the negative value, because seen from the aspect of approach we [release] the money.From got level of instalment, possibly we wish to know the level of loan fundamental in the instalment we pay [for]. For example we will put down his calculation result [at] cell A6, formula which is to be enterred:

= PPMT(A3/12;INSTALMENT_TO;A2)

Instalment to we change with number 1, 2, 3 and so on refer instalment first, second, third and so on.
paid level of Flower, we can calculate direct from level of instalment lessened by the loan fundamental paid. If counted by using function at]MS Excel, formula enterred as follows:

= IPMT(A3/12;INSTALMENT_TO;A2)

If we pay attention with situation of exact interest, amount of instalment will [is] same to [be] its monthly, big [of] loan fundamental will progressively go up and paid flower will progressively go down to each;every his monthly instalment. Following I enclose the file MS Excel for the calculation.

Bank Mandiri
Loan 40.000.000
Rate 12.25%
Duration 10 Years
Final Years 69.561.353,99

PR: wait... I: wait... L: wait... LD: wait... I: wait... wait... C: wait... SD: wait...

TRAPEED IN CREDIT CARD

Trust I cannot say that a the is factory labour of]production around] one million per month can have many credit cards (CC) ? Of course is not odd matter in the middle of intensively of the credit card promotion forcibly people to become the member especially in places expenditure of public. Loan Company promotion to labours only on condition that Id Card and free of annual fee to be member. Victim is even also down because many the labours trapped in endless debt. some of his stories which is our finding in a research.

My company incidentally have cooperation with a LSM to check various aspect life of labour. In the middle of research, we find the interesting phenomenon of moment many is labours of surrenderness narrate the debt lassoing of of effect usage of the credit card break the rules. Beginning of of ordinary them indebt to rentenir which is notabene is their own friend.

Then his pattern change the moment a labour even also can get the plastic money facility. Interest with modern life style, they try it identifying by becoming member just. Enunciated only with sheet Personla ID Card, without salary verification to be its is done by company of publisher Credit Card they have ever been dressy. Their grief is even also started.

Enunciated them not yet understood the term compunding interest, bloomy flower, and bear fruit, then flower again. More than anything else many companies Credit Card doing the deceptive cozenage by goning into effect the low flower in first month, then still up] 4% month;moon without approval of consumer.

Expense a few, but quite a few direct whichs of preoccupation of his card friction. Invoice is even also come, why can pay for the minimum or about 2% from invoice. With artless of them is even also only paying equal to minimum invoice. What a scrumptious is/are think them and yup, expense again, and just minimum invoice payee.

New them of conciousness at first month the next when payment of the minimum they do the expense plus progressively swell. Easyly, open again new credit card which promotion the transfer of debt. All right? Hell no! Fee gone into effect transfer of flower plus Credit Card newly actually more strangling. Debt collector start coming to factory, house, including your residency and their old fellow. Life is progressively narrow. As information, average they hold two or more Credit Card !

That a small part of story how do baby-abdominal belt KK which ensnaring some of our labours. Credit Card Company this not give a dam that labour with the production is not the goals snugly to market their. Emulation between publisher Credit Card which is wacky to so result them have to do the various means sometime not ethical for the shake of getting the member as much as possible and labour is soft target.
On the other hand, the labour tempted with plastic card life style interest to exploit this facility without supplied by theX the adequate knowledge concerning rule of the Credit Card game which full of trik and can trap the consumer in the is debt lassoing of not just outcome.

labours a lot do the patch up payment of minimum facility alias payment. Though mathematical paymently this can completed in meter tens of year. Unconvinced, try to calculate by xself with interest rate about 3% per month, possibly in meter of 30 year more debt can be paid. Hard isn't it?

Finally we do an awareness program to labours concerning tips usage Credit Card, calculation of flower, minimum effect payment, and of course understanding of condition and rule of publisher Credit Card. they comprehend that in this world nothing that free of charge so that we don't easy to tergiur with iming2 any from publisher Credit Card.