Can You Spot Credit Repair Scams

Credit Repair Scams: How to spot them

You may see credit repair ads claiming that your bad credit can be fixed easily. Some of these are credit repair scams and the simply collect your money and give you nothing in return.
I’d avoid new businesses even though just because their new doesn’t mean they aren’t any good.  I’d just prefer to go with a company which has been around for years. Companies that tell you only their credit repair company can remove old or inaccurate information or that they can remove everything. These claims are false.

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Be on alert if they want you to pay by Western Union or Money Gram as these are common ways scammers ask to be paid. Any licensed business will have a business bank account. Having the license does not ensure they aren’t crooks but, it’s just another thing to check for. Top Credit Repair can help you.

Avoid new credit identities

If you have bad credit or have recently filed for bankruptcy, you may be targeted by schemers trying to sell you another persons social security number as your new credit file number, this number may belong to another person or be made up. If you score is that bad it may be best to add tradelines to your own credit files. If you use another persons number, you could face fines and or be imprisoned for Fraud & Identity theft.

Other Credit Related Scams

Consumers looking to fix their credit easily  are often targets of other credit-related scams:

Such as the “Credit by phone”: Pay-per-call services have become a popular vehicle for credit repair scams. False Advertisements promise that “guaranteed” credit or cash loans are only a phone call away. But after calling and buying the product, it may turn out to only be a booklet or a list of banks offering low-interest credit cards.

Anything a credit repair company can do you an to. they only use the available laws to repair your credit. If you knew the laws and had the time and patience required to d credit repair then you could repair your own credit. As you do this,. the credit tradelines that you open and pay on time will raise your credit scores. So beware of credit repair scams.

How To Raise Credit Scores Fast

How To raise credit scores fast?

To learn how to raise credit scores fast get a copy of your credit reports from sites like AnnualCreditReport.com. Then read the tips below to learn how to raise credit scores fast.

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1. Dispute any errors you notice. Mistakes happen. You can dispute errors online through TransUnion, Equifax and Experian. (If you don’t want to dispute you can pay a reputable company) As many as 80% of credit reports have an error on the reported credit tradelines.

2. Negotiate with your creditors. You can always ask your creditors to “erase” debt or any account that went to collection. Some write a so called “good will letter” a letter offering to pay the remaining balance or a percentage if the creditor will report the account as “paid as agreed” or maybe even remove it altogether (this is known as a pay to delete). (Note: Be sure you get the creditors agreement in writing before you make any payment to them.

3. Make sure your correct credit limits are reported to the credit bureaus.

4. Get yourself a credit card. Having one or a pieces of plastic can help your score – but only if used regularly and paid on time.

5. Become an authorized user. Ask a relative or good friend if you can be added to his or her existing credit card account. Tell them you don’t need the card. You may hear the word “no” a lot. But you might also luck out, If you do get added as an authorized user the years of perfect payment history and the credit limit get placed in your credit files. If you can’t get a relative who has good credit to add you, you can buy tradelines for sale from IZM Credit Services and be added as an authorized user on their good credit accounts

6. Under-use your credit cards. Yes, we did just tell you to use credit when possible. But don’t use it to pay for everything . Your “credit utilization ratio” should be no more than 30% and even less if possible. A reported credit utilization of 10% or less will maximize your credit scores.

For example, your credit card has a $10,000 limit and you charge a grand a month. That would be fine, the main thing is to have the limit which is reported to the credit bureaus be under 10% for you to achieve the highest credit scores possible. To do this pay down balances on the payment date or at least one day before your account closing date.

7. Don’t close old credit accounts, the old credit tradelines which are called seasoned tradelines add to the average account age on your credit files

For more info on how to raise credit scores fast, come to this blog regularly or sign up for updates.

Passive Income – 10 Passive Income Ideas that work

Passive income, who wouldn’t want a passive income source that flows in with little or no effort on your part?

Passive income may seem like an unrealistic dream, but there are actually a number of ways to make passive income. The key is finding the right opportunity for you. I want to make that easier by giving you a list of passive income ideas.

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At first you may only be making a small amount of money passively, and you may even want to re-invest that money so it compounds and grows faster. But with some time, it’s possible to create enough passive income that you could quit your job or retire early.

1. Share Your Good Credit – Make Thousands

Rent your credit card authorized user spots. Here is a lucrative passive income source that may be new to you. You can add 3-5 authorized users to your credit cards (without giving the person added a card or access to your information) and you’ll be paid to do it. People who need to boost their credit scores can increase their credit scores and build credit history by piggybacking off of your perfect payment history. How much you make depends on the age and the credit limit on the account.

If you’ve never heard of selling/renting tradelines before it probably sounds too good to be true. The process only involves adding the credit repair companies client to your account, the card will be sent to your address and you can destroy it after you send a photo or scan of the card with the clients name only( this needs to be sent to the credit repair company, so they can know you did your part and so their client can also know they have been added as an authorized user.. The credit repair client user never has access to your account/s enrolled in this program.

It’s not for everyone, first off you must have perfect payment history but some people are making $2000 or more each month with very little effort, others have made upwards of $50,000 in one year. I have a few cards enrolled, the average pay is 100 350 per person added.  I go through a company that was featured on the news for paying it’s card holder partners thousands of dollars monthly… It only requires 2-4 minutes to add/ remove a client and IZM Credit Services pays well.

They even pay you 5% Residual Income to refer other card holders and 10% to refer people in need of credit repair or credit fast building.

If you want to learn more I recommend reading this article -> Click Here

2. Peer-to-Peer Lending

Peer-to-peer lending has become extremely popular. Borrowers and lenders can be matched up through a website or app.

The peer to peer borrower might not be able to qualify for a loan at a traditional bank. In many cases the peer to peer borrower gets a better interest rate than they get from a bank. As an investor, you can also earn a good return.

Peer to peer sites operate differently, but you will be able to see the credit risk of a loan prior to investing your hard earned cash. The higher the risk, the more interest you will earn, that is assuming the borrower will make all of their payments.

3. Invest in REITs

REITs offer another way to invest in real estate without being a landlord. The REIT owns income-producing real estate like apartment complexes, shopping malls. REITs make it possible to invest in real estate, and to earn a share of the income produced.

There are different types of REITs. Some are traded on stock exchanges and some are not. If you’re looking for a way to get started with real estate, REITs can be an great investment.

4. Buy Rental Property

You could buy a condo, single-family home, or multi-unit property.

The more properties you own and the more tenants you manage, the more time you will need to put into it. If you want it to be a passive investment the best option is to hire an experienced property manager.

5. Credit Card Sign Up Bonuses

Many credit cards give a bonus just for signing up and making a minimum amount of purchases on the card during the introductory period. For example, right now Chase is offering a $150 bonus if you sign up for a Chase Freedom Unlimited card and spend $500 on the card within the first 90 days. If you’re like me and you make most of your purchases with a credit card, hitting $500 in 3 months is easy.

  • It’s critical that you avoid high-interest credit card debt. Pay your bill in full each month.

6. Bank Account Promotions

Credit card companies aren’t the only ones who are willing to pay you to open an account. Some banks will give you a bonus simply for opening a checking or savings account. Again, this isn’t something that you’re going to do all the time, but it is an easy way to make a little extra money with no work involved.

Capital One is currently offering a $25 bonus for opening a checking account or savings account (for new customers).

7. Place an Advertisement on your car

Some companies now pay to put an ad on your vehicle. So, If you’re looking for a passive side hustle, how about using your car to as an advertisement?

There are companies that match up advertisers with car owners who want to make extra money. It could be panel, or full wrap or rear window advertisement, . The ad will not damage your car, it will be removable and the ad company will install it for you. Average pay is $50 – $400+ per month. Some of the biggest companies in this industry are:

  • Carvertise
  • Wrapify

8. Rent Out Your Stuff

One way to make some money is to rent out your stuff to other people. There are a lot of possibilities here, and it really depends on what you have, and what you don’t mind other people using. Fortunately, there are also several websites that allow you to list your items for rent, and make it easy for renters to find you.

Style Lend – At Style Lend you can rent women’s fashion items, like clothes and accessories. If you have a closet full of nice clothes this can be a nice, easy side hustle for you.

Turo – This site allows you to list your car for rent. People can rent from you instead going to one of the major chains, and you can make thousands per year doing it.

Fluid Market – At Fluid Market you can list your truck for rent.

RVshare – RVshare allows you to list an RV for rent, which can be a potentially lucrative side hustle.

Fat Lama – Fat Lama will allow you to rent about anything from electronics, to to baby items & sporting goods.

9. Rent Your Spare Bedroom

You can rent out a spare bedroom in your home and make some money without too much effort by allowing someone to rent the room. A popular side hustle is to use sites like:

  • Airbnb
  • VRBO
  • HomeAway

10. Invest in Artist & Musician Royalties

Royalty Exchange is a nique marketplace where you can invest in royalties. Artists and musicians are allowed to raise money by selling the royalties to their work. As an investor, you could make money passively from the right royalty investment.

Get Started with Passive Income Today

After reading through this list, pick a few that look like a good fit for you. The sooner you get started with passive income the sooner you’ll be making money, and you’ll have more to re-invest. There is definitely some low-hanging fruit on this list that is easy to get, even if you don’t have money to invest.