There are several steps involved in correcting credit errors.

1). Order your credit file from each of the three major credit bureaus (Experian, Equifax, and Transunion), not through a reseller. If you order your credit file from a reseller, you will not be able to initiate a dispute. It is important that you request your credit file from each bureau as they do not share information and your account information will likely differ from bureau to bureau. Make sure you go directly to their respective websites (Experian.com, Equifax.com, Transunion.com)

2) Check all of the accounts listed for accuracy and errors. Are all the accounts yours? Have any accounts been closed that are still being reported open? What about balancesare they correct? What about the payment history? Do you have any paid collections that still show an owed balance? These are all things that can be disputed easily.

3) After you have highlighted everything that needs to be corrected on EACH credit report, you can begin the dispute process. You can start this process online, at their respective websites. Normally you will find a “dispute information” link somewhere within your account, while you are viewing your report. Disputed information that can’t be verified MUST be removed, by law, within 30 days.

4) Accurate information, even if it is negative information, can’t be removed if it is verified as such. However some people utilize a loop hole that allows some negative information to be removed: If the creditor simply fails to respond to the dispute within the time allotted, the account will be completely deleted from your credit file.

5) Finally, the best way to build and repair bad credit is to obtain credit! Use credit wisely, and try to stay below about 35% of your available balance. Using too much credit raises a red flag. But if you consistently have high available balances and pay what you owe on time, you will get a higher rating.

The credit monitoring and repair task is tedious. It takes a while to see incorrect information being removed. It takes even longer to see your credit scores start to rise. Don’t expect amazing results overnight. Just remember that you can do for yourself what any company will do for you (and in probably less time since you only have to worry about younot hundreds of other clients). If you have plans for large purchases down the road, such as buy a house, or car, you need to act now. Make sure a lender will view you as credit worthy when the time comes.

Article submitted by Chris Robbins, founder of Direct Lending Solutions. Visit Direct Lending Solutions for comprehensive articles and frequently asked questions about bad credit, various lending options.

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If you’ve recently filed bankruptcy, you may be concerned about what interest rates you’ll receive on future loans and credit cards. This is a common concern. Though you may feel that the credit card offer you received in the mail has a ridiculously high interest rate, you’re not sure whether or not it’s the best you can get in your current situation. This article will offer some information on how bankruptcy affects interest rates on loans and credit cards:

Interest Rates on Credit Cards

In a perfect world, credit card interest rates would be comparable to those of mortgages. Unfortunately, credit cards are unsecured loans, and this represents a significant risk to the lender. For this reason, credit card interest rates will always be high, even for people will immaculate credit. After bankruptcy, you can expect the highest interest rates charged, which is generally between 25 and 29.9%. However, once you’ve established a relationship with that company and proven that you can pay your bill on time every month, they will most likely lower your interest rate. Compare credit cards from multiple companies in order to find the best rates and terms and choose a reputable lender. Make sure that they report to all three major credit reporting bureaus monthly so that you can start rebuilding your credit.

Interest Rates on Auto and Mortgage Loans

For a couple of years after you file bankruptcy, you’ll be stuck with sub-prime mortgage and auto loan interest rates. This can require that you pay a much larger interest rate than someone else with credit that allows them to get approved for a prime loan. However, if you can wait a couple of years, you will be more likely to get approved for a prime loan. This can save you thousands of dollars over the life of the loan. In order to ensure better rates after a couple of years, start with small credit accounts and pay them on time every month. This will allow you to build credit and present yourself as a responsible borrower. This is a lenders biggest concern after a person has filed bankruptcy — that they’ll become unable to pay their debts again.

If you can prove that you can pay your debts, you will become much less of a risk. This results in interest rates that are much lower than they would be if you applied immediately after your bankruptcy was finalized. Here is a list of recommended Adverse Credit Home Mortgage Lenders online. It’s important to use a reputable lender online to make sure your personal information is secure.

If you are interested in a Bad Credit First Mortgage loan, check out ABC Loan Guide’s free listing of reputable lenders. There are also lenders to help you find a Car Loan After Bankruptcy.

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Share Market Terms

Share Market, Shares, Investment, Broker, Options, Entrepreneur

Key Terms

Share - Shares are traded on the Stock Exchange, a market place where public companies are listed and their shares open for trade. When you buy a share, you purchase an ownership stake in a public company. You receive part of the company’ profits through payments known as dividends. If the share price rises, you may also see a capital gain.

Dividend - A company may pay all or part of its profits to its shareholders. This payment is a dividend. Before investing, check the company’s dividend record. Dividend income may be attractive, especially if you’re a retiree relying on investment income.

Dividend Yield - Dividend Yield is the dividend as a percentage of the share price. This ratio helps measure the dividend return being received on the shares.

Brokerage - Shares must be traded through a licensed broker, who is paid brokerage fees to buy and sell shares for us. Generally, fees range from 1% to 3% depending on the amount of shares traded and the trading relationship with your broker. There are also flat-fee discount brokers in operation these days. Before commencing your trading relationship with your broker, always check the fees applicable to your situation.

Bonus Shares - Bonus shares are free, new shares issued to shareholders in proportion to their current holding - e.g. a one for five issue.

Options - Options give the right to buy shares on particular terms within a specified time. Options are traded like shares.

Rights Issue - A rights issue is an invitation by the company to existing shareholders to buy new shares at a discount to the market price.

Ex Dividend - Purchasing shares ex dividend means the holder does not receive the current year’s dividend.

Cum Dividend - Purchasing shares cum dividend means the holder buys in time to receive the current years’s dividend.

Earnings Per Share (EPS) - This ratio helps measure company profitability. It shows how much net profit is earned for each share.

Price Earnings Ratio (PE) - This helpful statistic measures how accurately the share price reflects the value of the company. It’s the ratio of share price to EPS. PE ratios should generally be between 8 and 15 time the EPS. A low ratio means a company’ shares may be bargain priced.

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