Friday, June 25, 2010
Thursday, June 24, 2010
Credit is a complex subject, and like most complex subjects it's often misunderstood. As a result, many people learn information about credit that simply isn't true. Our credit specialists are trained to help you navigate the myths and understand the truth about your credit.
The following list is a sample of the popular credit myths we can help you understand.
- Paying off your collections will help your credit score.
- Once you pay a collection, charge-off, judgment, or tax lien it no longer impacts your credit score.
- Using your credit cards a lot will increase your payment history and raise your score.
- Multiple credit inquiries pulled at one time in the same industry will not negatively impact your credit score.
- Consumers have just three credit scores.
- It is better if an account goes late occasionally than if it goes bad altogether.
- Paying off your auto loan, student loan, or mortgage loan will help improve your situation.
- Paying off your major credit cards and leaving the small store cards maxed is the better choice.
- You should pay off one revolving account at a time.
- Paying a large up-front credit repair fee will get you better service.
- After 7 years, a negative item on your report will disappear and will no longer lower your score.
- Having a third party, such as a consumer credit counseling firm, manage your finances will help improve your credit score more quickly.
- For corrections, the burden of proof lies with the consumer.
- My divorce decree states that my spouse is responsible for that debt, so any future negative items will not impact my credit score.
- Your collection was sold, so the original one will be erased.
- You need to contact your creditors rather than the bureaus every time you think there is a mistake on your credit report.
- The credit bureaus, creditors and lenders are your friends!
- You have only one credit score.
- A higher salary will improve your credit score.
Friday, June 11, 2010
5280- "Colorado's white-washed winters are the stuff great travel brochures are made of: rosy-cheeked skiers schussing down powdery runs, frosted pine trees swaying in the wind, frozen lakes glistening in the afternoon sun. But Denverites know that our state's glorious summer is every bit the equal of those famous winters—and, dare we say it, maybe even a little bit sweeter. For 12 weeks (and sometimes well into late September), the thermometer hovers somewhere around perfectly comfortable; the air smells of forsythia, lilac, and freshly cut grass; and we revel in an all-too-short season full of hiking, camping, fishing, cycling, patio dining, festival-going, and flat-out sun worshipping. So sit back, kick your feet up with one of Breckenridge Brewery's 471 IPAs (#6)—or lace up your hiking boots (#13)—and enjoy."