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Bad Credit Can Cost You 7 Figures...

Billy Alt - Monday, February 04, 2019
Bad Credit Can Cost You 7 Figures... A bad credit score costs money – in many cases it could be over $1 million. That’s right over seven figures. If you have bad credit, the additional money you pay for things like mortgages, car loans and insurance, compared with what others with good credit pay, can be hundreds of thousands of dollars over a 30-year period. When that same money is spent or invested wisely, that number could easily rise to more than $1 million. Here i ..

Removal of Civil Judgments and Tax Liens-will my score increase?

Billy Alt - Monday, June 26, 2017
With the Removal of Civil Judgements and Some Tax Liens, what will the credit reporting changes do to credit scores? Not as much as you would think. As you probably already know, the "Big 3 Credit Bureaus" are making required changes to the criteria used to report a tax lien and/or civil judgment. It is anticipated that already reporting tax liens and/or civil judgments that do not meet the new criteria will be removed from the 3 consumer credit reporting agenc ..

Your Credit Mix determines 10% of the FICO Score

Billy Alt - Friday, May 13, 2016
FICO FACTS from Billy Alt, President 700 Credit Repair- Your Credit Mix determines 10% of the FICO Score FICO Scores will consider your mix of credit cards, retail accounts, installment loans, finance company accounts and mortgage loans. It's not necessary to have one of each, and it's not a good idea to open credit accounts you don’t intend to use. The credit mix usually won’t be a key factor in determining ..


Billy Alt - Wednesday, October 07, 2015
Amounts owed WHAT IS A HIGH AMOUNT OWED? FICO overachievers, 720 plus scores, keep an average balance between 1% and 3%, anything over 50% is too high according to FICO. If you are currently at 100%, get below 100%. Then 70, 50, 30, 10... Know when your lender reports. If you pay your balance in full when you get the statement, you are always reporting a maxed or high card. The creditors usually send in the balance and payment history 10 days before the statement closes or at the  ..

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