Posts tagged "FixNew"

Completely Guide To Fix Bad Credit with Absoultely New Identity for Credit

How To Completely Fix Bad Credit – How To Get New Identity.

In this report , I am outlining some strategies to get a “New Identity” in the twist to fix bad credit. A lot might wonder why there is so important about it as long as you afford to pay the bill.  If you don’t know it, it’s as serious as being robbed for $100,000! This happen all the time to hardworking Americans who simply “Don’t Know Better” before they buy their real estate,car or doing business!

Let me give you a real world example with the story of John and Janet,hopefully this doesn’t happen to you.

Story begin:
John and Janet both bought homes at the same time and for the same price.  Janet had a FICO Score over 740 while John had a FICO Score of only 600.

They both got home loans for $200,000.

However, due to differences in their FICO Scores here’s what John and Janet’s loans looked like…

FICO real case study

Think about that… on the same $200,000 loan Janet paid $186,511.58 in Interest… while John had to pay $328,310.50!

That’s a huge difference of over $141K in EXTRA Interest John had to pay just because his FICO Score was 140 points lower than Janet’s!

The Moral of The Story, If you’re buying a house, don’t be a John!

John threw away over $141K because he didn’t get his FICO Score over 740 before he bought his house.

Instead…

Be Like Janet with a FICO Score over 740 and save $141,000 on your next house!

But what if your Credit Score is less Than 800?

And your FICO Score less than 740?

And even lower???

You would probably ask, can I do something? Yes, definitely a lot you can do to increase your FICO score or helping you to save more money.

While most people are trying to fix their credit problems by obtaining free reports on “How To Fix Credit” this can be difficult and very time consuming. I am not saying that “Credit Free Reports” dont work (thats if you can find a legitimate organization) Im just explaining that there may be alterative on how to “Get Good Credit”.

Sometimes (as in todays rough economy) it is just not enough to “Fix Your Credit”. You may be better off “Starting A New Credit File” then trying to fix the old one. I know….How do I start a “new credit file”?

Rather then doing the old “Credit Repair” process , take a moment to consider the following suggestions on how to get “New Credit” and possibly a “New Identity” if this is required for you to succed. As a disclaimer I am not suggesting to be fraudulent in obtaing a “New Identity”. I am just suggesting that in order to create a “New Credit File” you may have to make a few changes to your name(which is legal) and use a different mailing address and such.

“New Credit” And How To “Get Good Credit” Maybe With A “New Identity” And Repair Your Credit Score Free.

Step 1

Request a copy of your current credit report from all of the major credit reporting angencies(bureaus) that serve your area. You will want to see all of the current information published on your credit report. In order to succeed in getting “New Credit”. You will need to be sure you are aware of the information that is reported on your most recent “credit report” so you have knowledge what to avoid starting your “New Identity” and enabling yourself to “get good credit”.

The four major credit reporting bureaus:

Step 2

Secure a new taxpayer indentification number from the Internal Revenue Service. This will be your new number , replacing your old social security number. You can apply right over the phone if you like.You may tell them you are starting a new business or nothing at all. Just make sure you get your new tin(ein). There is no reason to be intimidated by the IRS. This step is crucial in order for you to get good credit and begin again basically as a new you , with a “New Identity” as far as creditors are concerned.

IRS

USA 1-800-829-4933

INTERNATIONAL 215-516-6999 (Not toll free)

Step 3

Open an alternative mailing address. Since your goal is to “Get New Credit” you must take every precaution to avoid merging your “New Credit” with your old credit file. Use a trusted friends home or relatives home who does not share the same last name. You might also try an office rental service or a secretarial service. You will need a address which is physical by nature and not a PO box.

When opening this new address , consider using your middle name first then your last name, just to be on the safe side.

Step 4

Get a new phone number. In todays age everyone has a cell phone and that is ok. Just keep in mind having an actual land line could be beneficial in some circumstances. Not all agencies consider a cell phone number as proof of residence or identity.

Step 5

Once you have recieved your new tax identification number (tin) or employer identification number (ein) open a new checking account and or savings account with your new new number.Make sure you provide the new mailing address and phone number on any information they require to start your new account. Now you are getting close to your goal. The feeling of being considered “credit worthy” is once again within reach.

Step 6

Using the same information as above , apply for a loan backed by your new savings account as collateral. Another good idea is to get a secured credit card using your new information and make timely payments to get your “new credit file” started.

Step 7

Payoff the loan you recieved on your “New Credit” file in approximately 3 mos. This will allow for just enough time for your payments to be reported, and also show that you sre responsible and “a good credit risk”.

Step 8

After you have paid off your loan that you revieved via your “New Credit File” seriously consider getting a second secured loan. It should be no problem as the first loan was paid off in a timely manner. You may even be able to ask for an increase in the loan amount.

Step 9

Do not abuse this new credit file. It will probably be your last chance to enjoy good credit. Always plan ahead when making decisions concerning your credit and never allow emotions to get the better of you.

A few important things to remember when starting your “New Identity” and using your “New Credit”

In order to never merge your old credit file with your new , keep this in mind:

Dont apply for credit where you have had it in the past

Do not use prior credit references (even if they are good)

Do not put your spouse on any new applications.

Do not use personal checks from your old banks to pay your new creditors,

Never use your social security number on any new credit applications.

Never use old addresses or phone numbers (references) on any new credit applications.

I sincerely hope this information will be useful to you. If used correctly it can and will help you establish “New Credit” a “New Identity” with creditors and allow you to “Get Good Credit” so you may live the life you aspire to.