Christmas got a little better for a number of families this year with the help of Better Qualified and other businesses. The 2011 Help Across America toy drive’s success is evident by the smiles on the faces of the children.

To Find Out More About Help Across America visit their site at www.helpacrossamerica.com/ or call 973-298-0809

Identity Theft topped the Federal Trade Commission’s list of consumer complaints in 2010, accounting for 19% of the 6.1 million complaints received, and 2011’s totals are expected to be even higher.

ID theft is now an estimated 37 billion dollar crime. Victims of identity theft can face out-of-pocket costs of $3,000 or more plus be left with hundreds of hours fighting creditors.

Most cases of credit card fraud involved misuse of existing credit card or other accounts, while 1.8 million found that new accounts were opened, or other frauds were committed, using their personal identifying information.

How does ID theft affect the average victim?

• 47% have trouble getting credit or a loan as a result of identity theft
• 19% have higher credit rates
• 16% have higher insurance rates because of identity theft
• 11% have had a negative impact on their ability to get a job
• 70% have trouble getting rid of (or may even never get rid of) negative information on their credit records
• 40% have experienced stress in their family lives as a result of displaced anger and frustration over the identity theft

The odds of becoming an identity theft victim increase considerably if you are a young adult or a small business owner. The reason people in these demographics tend to be more exposed to identity thieves based on the normal behavior they need to engage in to survive in today’s world.

Young NJ adults, especially those away at college, are likely to use shared library or dorm room computers. New Jersey small business owners tend to complete financial transactions by mail or over the Internet, often using their personal accounts and home addresses to aid in processing them. More than 1 out of 3 businesses have been hacked by thieves putting your personal information at risk.

• 29.1% are Medical/Healthcare,
• 16.2% are Government/Military,
• 10.5% are Banking/Credit/Financial,
• 9.2% are Educational institutes.

These are types of companies we all use every day.

It makes sense to trust an experienced firm like Better Qualified, LLC to follow up so you know you are covered.  Even if you are a victim who has been offered help by a company that has had its accounts hacked by thieves, you should consider hiring someone to represent YOU.

If all this concerns you, contact us today to learn more about BQ IDShield, identity fraud services.

It is no secret that insurance companies use the credit scores of individuals as one tool in the approval/disapproval process and in establishing premiums.

Most courts allow this process as long as the scoring is uniformly applied to all insureds and is consistent with the purposes of the individual state’s insurance code. But just because credit scoring is legal does not make it right.

Insurers contend that there is a clear correlation between credit scores and the risk of loss; that is, the lower the credit score, the more likely that the insured will file a claim. This may be statistically correct, but I wonder if insurers take into consideration the fact that the credit-scoring companies often make mistakes. And, what is even worse, the credit-scoring companies don’t admit mistakes or when they do, it takes months and even years to make the corrections.

That is not going to help any potential insured get coverage when it is needed.

Insurers want to attract and retain low-risk customers since this is a way to make a profit, but many state insurance codes have the express purpose of making insurance available and affordable for everyone. Turning away a potential customer or charging the customer prohibitively high premiums because of some anonymous crowd of pencil-pushers using subjective standards does not seem to me to be living up to that express (and grand) purpose.

Plus, I just find it irritating that these credit-scoring agencies have so much power over the daily lives and operations of citizens (and even countries as the effect of the downgrading of the U.S. credit rating shows).

Now, before anyone thinks I am complaining because I have a low credit score, the fact is that I don’t. And I realize that an insurer needs to make a profit to continue in business.

But credit scoring still seems to me to be a crude, unfair, overly subjective way to set underwriting standards. There has to be a better way to establish the insurance-worthiness of a potential customer.

Those in the insurance business are intelligent people, and ignoring credit scores or at least downgrading their importance when it comes to the approval/disapproval process and establishing premiums cannot be that hard a task.

David D. Thamann

David D. Thamann, JD, CPCU, ARM, is managing editor for FC&S Online.

Better Qualified, a leading NJ credit repair company, can help restore personal and business credit in as little as six months.

According to Better Qualified, many consumers have erroneous information on their credit report that is hurting their score.  The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands a year.

The Freedom Package from Better Qualified has been the credit repair solution many have been looking for. This package consists of a comprehensive six-month program that includes NJ credit repair services, identity theft resolution, education services and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

Better Qualified’s superior customer service is evident online, where many have given the NJ credit repair company top ratings.

NJ Credit Repair testimonials

Jason W. writes “Better Qualified found mistakes on my credit report and began cleaning negative marks immediately. At that time they also suggested that I take initiative with their help to separate my personal credit and business credit so that I would not have future complications. A year later my credit score has risen and my business credit is established with multiple creditors. I highly recommend that everyone use Better Qualified for your personal credit and if you own a business. You will not regret it.”

Jeff V, an employee at a mortgage firm in NJ, praised Better Qualified for helping his client with his tarnished credit score.  Jeff writes, “On behalf of myself and my client, we wish to thank you for successfully getting his credit score from 644 to 688 in under 45 days. By getting his score up, we were able to avoid the 1.5% add-on for a credit score under 649 and get him a 4.25% rate…essentially leading him to $4,861 in savings and $57 savings every month. You guys are the best and I’ll be sure to refer anyone else I know to you!”

Additional Better Qualified testimonials can be found online: http://betterqualified.com/testimonials/

Better Qualified takes a time tested, legal approach to restoring bad credit. The NJ credit repair company will challenge all disputable information on a credit report and will work to have any erroneous information deleted.

To learn more about their services call (888) 533-8138.

Background:

Founded in 2006, Better Qualified has become a leader in credit restoration and identity theft resolution services. Better Qualified is headquartered in Eatontown, New Jersey, with licensees across the country.

Since founded, Better Qualified has maintained an excellent track record of success and offers a 100% money back guarantee.  The business has an “A” rating from the Better Business Bureau.

Will you lose your house and retirement savings? When will you be able to borrow money again? Get the facts on these questions and more.

Like most big, bad scary things, bankruptcy has a reputation based on a few tidbits of truth and a lot of embellishment. And like most creepy crawlies, it’s not nearly as frightening once you know the truth.

With a mind toward declawing the monster, here are a dozen misconceptions about bankruptcy:

1. Everyone will know I’ve filed for bankruptcy. Unless you’re a prominent person or a major corporation and the filing is picked up by the media, the chances are very good that the only people who will know about a filing are your creditors. While it’s true that bankruptcy is a public legal proceeding, the number of people filing is so massive that very few publications have the space, manpower or inclination to run all of them, although some local newspapers do print the names of those who have filed in that community.

2. All debts are wiped out in Chapter 7 bankruptcy. You wish. Certain types of debts cannot be discharged, or erased. They include child support and alimony, student loans, restitution for a criminal act and debts incurred as the result of fraud.

3. I’ll lose everything I have. This is the misconception that keeps people who really should file for bankruptcy from doing it, says Chris Viale, the chief operating officer of Cambridge Credit Counseling in Massachusetts.

“They think the government will sell everything they have and they’ll have to start over in a cardboard box,” Viale says.

While bankruptcy laws vary from state to state, every state has exemptions that protect certain kinds of assets, such as your house, your car (up to a certain value), money in qualified retirement plans, household goods and clothing.

“For most people, they’ll pass through a bankruptcy case and keep everything they have,” says John Hargrave, a bankruptcy trustee in New Jersey. If you have a mortgage or a car loan, you can keep the property as long as you keep making payments (like the rest of us).

4. I’ll never get credit again. Quite the contrary. It won’t be long before you’re getting credit card offers again. They’ll just be from subprime lenders that will charge very high interest rates. “There are innumerable companies that will provide credit to you,” says California bankruptcy attorney and trustee Howard Ehrenberg.

“I don’t advise any of my clients to run out and run up the bills again, but if someone does need an automobile, they can go and will be able to get credit,” he says. “You don’t have to go underground or something to get money.” (Do you know your credit rating? Take MSN Money’s quiz for an estimate.)

5. If you’re married, both spouses have to file for bankruptcy. Not necessarily. “It’s not uncommon for one spouse to have a significant amount of debt in their name only,” Hargrave says. However, if spouses have debts they want to discharge that they’re both liable for, they should file together. Otherwise, the creditor will simply demand payment for the entire amount from the spouse who didn’t file.

6. It’s really hard to file for bankruptcy. It’s really not. Technically, you don’t even need an attorney — you can do the paperwork without one. However, going through the procedure alone is not recommended.

7. Only deadbeats file for bankruptcy. Most people file for bankruptcy after a life-changing experience, such as a divorce, the loss of a job or a serious illness. They’ve struggled to pay their bills for months and just keep falling further behind.

8. I don’t want to include certain creditors in my filing because it’s important to me to pay them back someday, and if the debt is discharged, I can’t ever repay them. Bless you for even thinking about such a thing. You’re no longer obligated to repay them, but you always have the opportunity. If your conscience won’t let you sleep because you didn’t pay your debts, there’s nothing in the bankruptcy code that prevents you from doing that once you’re back on your feet. But it is nearly impossible to leave any account with a balance out of your list of creditors. In general, all creditors receive notification of your bankruptcy filing, whether they are listed in the petition or not.

9. Filing for bankruptcy will improve my credit rating because all those debts will be gone. Filing for bankruptcy is the worst “negative” you can have on your credit report. Unlike other negatives, which stay on your report for seven years, bankruptcy can be there for 10 years, but you do get to rebuild your credit eventually.

10. You can’t get rid of back taxes through bankruptcy. Generally speaking, this is true. However, there is such a thing as tax bankruptcy, says tax educator Eva Rosenberg, known on the Web as TaxMama.

11. You can only file for bankruptcy once. The truth is, you can file for Chapter 7 bankruptcy only once every eight years, says Justin Harelik, Bankrate’s bankruptcy adviser. For Chapter 13 reorganization, you can file more often than that.

Of course, that doesn’t make it a good idea.

“Multiple bankruptcies are really bad,” Rosenberg says. “Many people get into the habit of once they’ve done it, it becomes a way of life. This is not good for your karma.” Or your credit rating.

12. I can max out all my credit cards, file for bankruptcy and never pay for the things I bought. That’s called fraud, and bankruptcy judges can get really cranky about it.

Better Qualified, a leading NJ credit repair company, can help restore personal and business credit in as little as six months.

According to Better Qualified, many consumers have erroneous information on their credit report that is hurting their score.  The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands a year.

The Freedom Package from Better Qualified has been the credit repair solution many have been looking for. This package consists of a comprehensive six-month program that includes NJ credit repair services, identity theft resolution, education services and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

Better Qualified’s superior customer service is evident online, where many have given the NJ credit repair company top ratings.

NJ Credit Repair testimonials

Jason W. writes “Better Qualified found mistakes on my credit report and began cleaning negative marks immediately. At that time they also suggested that I take initiative with their help to separate my personal credit and business credit so that I would not have future complications. A year later my credit score has risen and my business credit is established with multiple creditors. I highly recommend that everyone use Better Qualified for your personal credit and if you own a business. You will not regret it.”

Jeff V, an employee at a mortgage firm in NJ, praised Better Qualified for helping his client with his tarnished credit score.  Jeff writes, “On behalf of myself and my client, we wish to thank you for successfully getting his credit score from 644 to 688 in under 45 days. By getting his score up, we were able to avoid the 1.5% add-on for a credit score under 649 and get him a 4.25% rate…essentially leading him to $4,861 in savings and $57 savings every month. You guys are the best and I’ll be sure to refer anyone else I know to you!”

Additional Better Qualified credit repair testimonials can be found online.

Better Qualified takes a time tested, legal approach to restoring bad credit. The NJ credit repair company will challenge all disputable information on a credit report and will work to have any erroneous information deleted.

To learn more about their services call (888) 533-8138.

Better Qualified, a leader in credit repair services, says potential employers may turn down job prospects because of bad credit scores. Many consumers may not even realize that employers have the ability to access the credit history of applicants and current employees, adding to the importance of credit repair in today’s rocky economic and unemployment climate.

Applicants have the right to know if they were denied employment as a result of a third party report, such as a credit history report, as required by the Fair Credit Reporting Act of 1970 (FCRA).  Unfortunately some applicants may not inquire as to the reason they were denied employment, and some employers may never tell.

The Society for Human Resource Management conducted a study in 2010 and found that 35% of employers were pulling an applicants’ credit as a condition of employment.  This startling figure proves that bad credit can hinder a person’s success in many areas of their life.

Credit Repair Services Can Improve Employment Success

With unemployment numbers at an all time high, hidden roadblocks to potential jobs could have devastating consequences for consumers.   Better Qualified offers a suite of credit repair services aimed at improving and restoring bad credit scores. Not only do their credit repair services aid consumers in obtaining mortgage loans and car loans, they can also help improve an applicant’s employment success rate.

Paul Oster of Better Qualified is quoted, “We firmly believe that credit history should not be used as a factor of employment.  We believe that these decisions should be made based on an applicant’s qualifications. But unfortunately, the reality is that credit history is being pulled by employers so this is one more reasons that consumers with bad credit should carefully consider a repair program.”

The most popular credit repair program offered by Better Qualified is the Freedom Package, a comprehensive six-month program that includes credit repair services, identity theft protection, education and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

During the credit repair program, consumers learn how credit reporting works and how to make better credit decisions in the future.

Bad Credit Scores Can Be A Result of Erroneous Information

According to Better Qualified, many bad credit scores are a result of erroneous information on a consumer’s credit report. The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands of dollars a year in lost wages and interest rates.

“This is where a credit repair program can produce highly effective results,” says Oster.  “We can challenge all disputable information on a credit report and have any erroneous information deleted.  Just removing false reports can have a great impact on someone’s credit score.”

Consumers who would like to learn more about the credit repair services at Better Qualified can call the company at (888) 533-8138.

By Eva Norlyk Smith, Ph.D. October 25, 2011

Need money for a small home remodeling job, or to make much needed car repairs? Or do you simply want to use a 0 percent balance transfer offer to pay down high-interest credit card debt?

Before you apply for that new balance transfer card, make sure you know the ins and outs of how balance transfers impact FICO scores so you can minimize potential disadvantages.

Taking out a balance transfer may lower your FICO score in the short-term. But it can also help boost your score over time. Here are the three ways in which taking out a balance transfer will impact your credit score.

1. Opening a new account will shorten the average length of your credit history.
Any time you open a new credit card, it will shorten the average length of your overall credit history.

“About 15 percent of your FICO score takes into account the length of your credit history,” says Kim McGrigg, Community and Media Relations Manager at Money Management International. “Part of that average is all your accounts, so when you open a new account, obviously it affects the average length of credit history. If you close the old credit account, it will impact scores even more.”

The good news is that the impact on credit scores from opening a new account is small and relatively short-lived, as long as you follow good credit management practices on the new account. The key is to keep that old account open and use the card occasionally so it’s still active.

2. Credit inquiries will ding your FICO score.
Each time you apply for credit, a lender will check your credit history to determine if you’re a good credit risk. This will show up on your credit report as a “hard inquiry,” which can lower your score.

According to FICO, one credit inquiry every once in a while will have minimal impact, shaving as little as four to eight points off credit scores, and the effect, again, is relatively short-lived. However, frequent credit inquiries affect FICO scores proportionately more and the impact lasts longer.

3. Your credit utilization rate will suffer or improve, depending on how you use your balance transfer.
Next to paying bills on time, your credit utilization rate, or debt-to-credit ratio, is one of the most important components of your FICO score. It makes up a full 30 percent of scores.

And when you take advantage of a balance transfer offer, it can hurt or help your credit utilization rate, depending on how you use the loan.

For example, if you open a 0 APR balance transfer credit card in order to fund a small home remodeling project or large purchase that you plan to pay off gradually, your debt-to-credit utilization will increase, lowering your score. The impact may be blunted by the fact that your overall credit limit will also increase. However, if the loan is large enough, your score will still be negatively impacted until you pay down the loan.

On the other hand, if you take out a balance transfer to pay off existing high-interest debt on another credit card, your overall utilization will decrease. The amount of debt that you have will stay the same, but with the new credit card, you will have a greater overall credit limit, so the total debt-to-credit utilization will improve.

In addition, your within-card utilization may also improve, which help boost your score. For example, let’s say you apply for a new balance transfer credit card and get a card with a $10,000 limit. If you transfer $5,400 from a card with a $6,000 credit limit to a card with a $10,000 limit, you will lower your overall credit utilization — and you will lower the within-card utilization as well (from 90 percent utilization to 50 percent).

Your credit score may be temporarily dinged by opening a new account. However, because credit utilization accounts for a full 30 percent of your score and opening new accounts only affects 10 percent of your score, the overall impact will still be positive.

However, with that said, be aware that having extra credit available could also turn out to be a credit score liability if you’re not careful, warns McGrigg, especially if you keep your old account open and active.

“It’s true that if you don’t close the old account, you might actually have a chance to improve scores,” says McGrigg. “However, that’s only true if you don’t charge the account right up again. For many people, having an account with a zero balance is too tempting, and they might end up twice as much in debt as before.”

It’s also important that you don’t get complacent, warn experts. Transferring your debt to a lower interest balance transfer card may be a step in the right direction — but there’s still more work to be done.

“So many people think that [by] moving to a better account with a better interest rate, their problems are solved,” warns credit repair expert and financial literacy advocate Harrine Freeman, “But they’re really just moving money. Don’t get fooled by tricks and gimmicks. You don’t know what will happen in another year; you could move, you could lose your job. It’s best to just pay your debt the old-fashioned way.”

Better Qualified, a leader in credit restoration services, helps consumers with bad credit obtain mortgage loans.  The comprehensive credit repair program helps consumers gradually improve their score so that they can be qualified for a regular mortgage loan instead of a bad credit mortgage loan.

The rules of lending are much more stringent today then they were a few years ago.  Many consumers with low credit scores are now unable to qualify for a mortgage loan.  Individuals who want to avoid the high interest rates of a bad credit mortgage loan can improve their credit score with the help of companies like Better Qualified.

Their most popular credit repair program is the Freedom Package, a comprehensive six-month program that includes their credit repair services, identity theft protection, education services and much more.  This popular program has helped thousands of consumers with bad credit and the company’s superior customer service has earned them an “A” rating with the Better Business Bureau.

Credit Repair Program Teaches Consumers How Credit Reporting Works

During the credit repair program, consumers learn how credit reporting works and how to make better credit decisions in the future.

According to Better Qualified, many consumers have erroneous information on their credit report that is hurting their score.  The Public Interest Research Group (PIRG) conducted an independent study and found that 79% of credit reports surveyed contained either serious errors or other mistakes of some kind. These mistakes can cost consumers hundreds or even thousands a year.

Better Qualified takes a time tested, legal approach to restoring bad credit. The company will challenge all disputable information on a credit report and will work to have any erroneous information deleted.

To see some of the incredible results achieved through the Freedom Package from Better Qualified, visit their credit repair testimonials page.