Do you believe it was worse than the Great Depression?

Where are we now? In this Reuters peice, Federal Reserve Chairman Ben Bernanke explains some things, leaves other open to debate.

Credit Repair - It's Easy & It's Free!

Of all the things that you can repair yourself, your credit is not only the most important, but maybe the easiest! That’s not to say that it doesn’t take some time and persistence, but it certainly can be done. And improving your credit score will save you thousands of dollars in the long run.

Your score can improve faster than you may think. Here are a few tips for establishing good and countering bad credit.    

• Pay down current debt. (not always necessary to pay off, just work on paying down)
• Make ALL payments in a timely manner. No Late Payments! (this includes but is not limited to rent, utilities, credit cards, car loans)
• Use credit cards very carefully to establish GOOD credit. (only charge what you can pay off at the next billing)
• Think twice before applying for more credit. The simple inquiry itself can lower your score, and If you are declined it will count as a negative on your credit report.
• Work on removing items from your credit report that you feel were reported in error, or that are not yours. Check to be sure any closed accounts reflect "closed”. Contact credit reporting agencies and the creditor directly. The credit reporting agencies can explain the procedure. The creditor can provide the required documentation.

AVOID requesting your credit report from advertised services, there are usually strings attached. Only one credit report is truly free: http://www.annualcreditreport.com/. You are entitled to one free report a year (you can pay for additional reports). It will include information from the three major reporting agencies, Equifax, Experian, and TransUnion.

AVOID credit repair and counseling companies. Some are very expensive, some disreputable. You can usually improve your credit score on your own. It takes a little effort but is worth every minute, and it's free.

Feel free to contact me if you have any questions.

Where do you stand? Very interesting survey!

     Very interesting survey called
     Financial Capability Study,

     compiled by FINRA, and
     regarding our fianacial habits.

     It's organized by state so one click
     will tell you where you stand.  

    FINANCIAL CAPABILITY STUDY