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& Analysis

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  1. FICO® Credit Scores Lenders use
  2. Complete Credit Score Analysis
  3. Potential Mortgage and Auto Loan Qualifications

Gold: Lender's Report, Lender's Scores, Analysis
& Steps to Score Improvement

Only $79.95
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  1. FICO® Credit Scores Lenders use
  2. Complete Credit Score Analysis
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  4. Personalized Solutions to Higher FICO® Credit Scores

My Credit Plan Blog

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Latest News and Updates

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President Biden has simply blown it with cancelling student loan debt. This is just flat out wrong and its repercussions will last for generations. I see the problems with this every day and the financial devastation it has caused. This is a real mess and it all starts with the change in the law with the Affordable Care Act. How does the law with insurance coverage impact student loans and now Biden's proposal to cancel its debt? Let me explain.

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Equifax® admitted to providing inaccurate FICO® Scores from March 17, to April 6, 2022 from a coding error. How did this impact you as a consumer? If you bought a home or a new car, the impact could cost you a lot of money.

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As the Federal Reserve raises its interest rates, the impact to the rest of the economy is yet to be determined. However, one area that will have a profound impact is the national debt at $30.5 trillion. The cost of borrowing money will become much more expensive. It is not just the increasing cost of personal borrowing that is impacted, but also the future impact on other programs such as Social Security and Medicare.

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Nicolas Vega, a business reporter at CNBC, misled thousands of consumers by his recent article that credit utilization ratio makes up 30% of your FICO® credit scores. His statements are incorrect, inaccurate, and misleading. There are several other debt-related factors that have an impact on FICO credit scores.

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The last few weeks have seen some of the highest interest rates for mortgages seen in almost 15 years. Rates jumped from the low 5.00% on a 30 year fixed rate mortgage to about 6.50% before settling back closer to 6.00%. With rates jumping so much, where does the housing market go from here? There are already some signs.

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Consumers are under pressure like never seen in almost 40 years. I am seeing it more and more, and it is very concerning for millions. To combat high levels of inflations, many consumers have resorted to credit card and other consumer debt trying to navigate through these record inflation rates. Every person has an opinion. What can you do more? Here are some ideas that I have helped out many others over the last 30 years.

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Federal rent assistance for millions of Americans comes to an end starting May 1, 2022. For many, the challenges of affordability and of having to start making payments that have increased exponentially since the start of the pandemic, are way beyond reach. So, what is going to happen?

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The three major credit bureaus, Experian®, Equifax®, and TransUnion® have marketed different credit monitoring tools to help you track the credit information in your credit report – as long as you pay something. But, why don’t the credit bureaus do it? It is their information. I’ll explain.

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Over the last 15 years, the credit score has become a vital part of every consumer’s financial life. Good or bad, politicians have recently got more involved to have their impact on consumer’s credit scores. As one observer correctly pointed it out, those with higher credit ratings are losing out while those with lower credit scores are benefitting. Let's take a look.

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Why would an active duty soldier or veteran pay almost $20,000 more than necessary on a mortgage? One mortgage company, NewDay USA, advertises that servicemen and women may want to add a pool for the grandkids, or consolidate some expenses. They advertise to those with VA benefits (soldiers and veterans) to utilize NewDay USA VA 100 Cash Out loan “…to help more veterans.” When a potential applicant looks at the numbers however, there are several costly red flags to what NewDay USA is proposing.