KeesdeWit

325 Contributions 55 People Helped Top Contributor
Member since: June 2008
About Me: Debt free, except home mortgage.

Solid financial plan (do's and dont's):

Things you should do:
- Budget, budget (know what comes in and where it goes)
- stay out of debt (except mortgage)
- have a 6 month almost cash emergency fund
- put 15% into retirement accounts
- have a 15 year fixed rate mortgage with a payment of no more than 25% of your take home pay.
- have no more than two credit cards
- use them for online purchases (such as airlines tickets, amazon, etc)
- pay the cards off every month, well before the due date
- have term life insurance in place while you have small dependents and while you are building your financial future
- get LTC when you turn 60 or so
- when you are getting significant savings in your account, meet with a fee-only financial planner.

Things you should not do:

- co-sign
- collect credit cards as a sign of how well you are doing financially
- loan money to family or friends (make it a gift, w/o strings attached)
- sign up for Debt Consolidation
- buy from Cash Value Life insurance of any type
- get a car loan (it goes down in value)
- use your bank as your financial advisor
- use an insurance agent as your financial advisor
- impulse buy

Most Helpful Contribution

Credit reporting is a scam!

Helpful to 9 out of 11 people

Welcome to the magic of credit scoring. Amen.

Credit scoring has nothing to do with income or wealth or assets. It is all about debt, paying debt back and going back into debt. It really is a silly game to maintain the bank's profits.

- Mar 04, 2011
Top Contributor

Response by KeesdeWit

325 Contributions
55 People Helped

Activity (325 Total Contributions)

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How do I get a credit report from all three credit bureaus on Credit Karma?

You cannot
Helpful to 5 out of 5 people

The web site is;

www.annualcreditreport.com

- Dec 24, 2012
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Response by KeesdeWit

325 Contributions
55 People Helped

Credit reporting is a scam!

Helpful to 9 out of 11 people

Welcome to the magic of credit scoring. Amen.

Credit scoring has nothing to do with income or wealth or assets. It is all about debt, paying debt back and going back into debt. It really is a silly game to maintain the bank's profits.

- Mar 04, 2011
Top Contributor

Response by KeesdeWit

325 Contributions
55 People Helped

How can it be ck says 601 & actual score 674 won't believe this site again

There is no standard scoring
Helpful to 2 out of 2 people

I do not know what you mean with actual score. There is no actual score.

There are 3 credit reporting agencies, not all creditors report to all 3. There are different methods of calculating score for different types of credit and scores are calculated by different companies (such as FICO)

- Mar 01, 2013
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Response by KeesdeWit

325 Contributions
55 People Helped

somebody commited fraud using my social security number. How can i fix my credit score?

Helpful to 2 out of 2 people

First you must report it to the police, and get a police report.

Then you have to contact the creditor and let them know about the fraud and they have to remove your name.

- Mar 31, 2011
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Response by KeesdeWit

325 Contributions
55 People Helped

how improve my credit score?

Helpful to 2 out of 2 people

Get a copy of your credit reports from www.annualcreditreport.com and look at your bad debts (if any).

Call them one by one, make an offer to settle, get it writing and send a cashier check. Keep records forever.

- Jan 15, 2011
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Response by KeesdeWit

325 Contributions
55 People Helped

Derogatory Marks - How do I find the details on them so I can start to work on them?

annualcreditreport.com
Helpful to 3 out of 4 people

is the place to find out.

- Mar 01, 2013
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Response by KeesdeWit

325 Contributions
55 People Helped

Wrong Info about mortgage &credit card

Other credit agency?
Helpful to 1 out of 1 people

CK uses Transunion.

Others are Experian and Equifax.

Get a copy of your credit reports from annualcreditreport.com and see if they are reported there.

If not, you contact the financial institution (mortgage holder, credit card company)

(side note: credit reporting is through social security number, so if the SSN on the mortgage is not correct, it will not show up)

- Mar 01, 2013
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Response by KeesdeWit

325 Contributions
55 People Helped

printed a 3 bureau credit report how do i know who to pay and which ones to pay

Company that reported it last
Helpful to 1 out of 1 people

Each entry shows the reporting month (usually in a box type horizontal bar)

Your debt has been sold over and over. You have to figure out who owns it now (part of the joy of not paying your debts).

Paying will not help your credit score. the damage has been done.

You should settle and get the account to "closed and settled" or similar.

The attorney probably does not report to the credit agencies (it costs money to do this).

- Mar 01, 2013
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Response by KeesdeWit

325 Contributions
55 People Helped

HOW COME I HAVE 2 CAR LOANS ON MY CREDIT REPORT? I REFI MY ONE CAR LOAN MONTHS AGO. HOW TO FIX THIS?...

Old loan is part of your history
Helpful to 1 out of 1 people

The balance should show zero after 30 or 60 days, depending on when it is reported.

Also check your credit report on annualcreditreport.com after 60 days to make sure the balance of the old loan is zero and "closed". The history will stay, this helps you showing your on time payments.

- Mar 01, 2013
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Response by KeesdeWit

325 Contributions
55 People Helped

How my Credit Score is impacted if I take Auto Loan and a new Credit Card in a month

Use the credit simulator
Helpful to 1 out of 1 people

Use the credit simulator feature of CK.

- Mar 01, 2013
Top Contributor

Response by KeesdeWit

325 Contributions
55 People Helped
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