Welcome To The VCR Blog

Our credit repair program is designed with our Clients in mind. From topics that include understanding the makeup of your credit score, to key things to remember when it comes to maintaining a score. 

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How to use Credit Cards to Maximize your Credit Score

Credit Cards are a necessary evil when it comes to a credit score. It is imperative to your credit score that you understand that the balances on your revolving accounts have a profound effect on your scores. Making your payments on time is essential, but even with a perfect payment history, if you let your balances rise anywhere near the card limit you lose points on your credit score. For the highest credit score keep your balance below 10 percent of your cards limit. If you are looking to rebuild your credit scores, try applying for a Secure Credit Card. [...]

Financial Considerations for Security Clearance or Joining the Military

We can assist with credit & budget issues that are preventing you from obtaining a Security Clearance, getting a promotion or even joining the Military. Financial mismanagement which leads to Credit Issues is the most common area of disqualification. Below, from the U.S. Code of Regulations, Title 32 — National Defense, Part 147.8 (Financial considerations) are some of the financial factors that can raise red flags on an application to achieve or maintain a security clearance or a promotion while in the Military. (a) The concern. An individual who is financially overextended is at risk of having to engage in illegal acts [...]

Servicemembers Civil Relief Act and Residential Leases

Service members are protected by the Servicemembers Civil Relief Act if they need to break their lease on account of a deployment or PCS. Breaking your lease can hurt your credit score, especially if you don't pay the leftover balance when you move out. Working with your landlord to break your lease can help you avoid damaging your credit. Understanding the Servicemembers Civil Relief Act Your protection under the relief act begins on the date you enter active duty and generally ends between 30 and 90 days after the date of discharge from active duty. This applies to: Active-duty members of [...]

What is a Judgement?

What is a Judgment? A judgment is a painful court order to pay a debt, and can arise from a lawsuit, a divorce, business dispute or an array of other possibilities. Judgments are public record. They will appear on your personal credit report and can wreak havoc on your credit scores. They can also hurt your ability to get a mortgage — unless you take specific steps. If you’re hoping to get a mortgage, any mortgage company is going to examine what led to the judgment and, more importantly, how the judgment will be accounted for. Whether buying a home or [...]

Are There Trustworthy Credit Repair Companies?

Yes! Go with the Credit Repair Company that consults with you before discussing a strategy for your credit repair.   No company can tell you exactly what they can do for your credit if they're not aware of your credit history. An honest credit repair company will ask questions about your credit history and will want to view your credit reports before talking about what it will do.   Go with the company that makes sure you know your consumer rights.   The credit repair company must let you know that you can dispute information on your own. Most people we talk to would [...]

Credit Monitoring – A Good Tool To Have

When a consumer applies for credit, a company that is authorized to obtain a copy of the consumer’s report will electronically submit a request for the report. The request must contain specific data about the consumer for the credit bureau to extract the correct report.   It is surprising to learn that one of the critical pieces of data, the consumer’s Social Security number, is not needed in order to obtain the report or extend credit. That’s right, the credit bureaus only require minimal match requirements prior to providing a report to an authorized party.   The credit bureaus’ refusal [...]

Varying Credit Reports

Why does each credit report vary by credit reporting agency?   When viewing your credit reports you will notice some accounts differ for each of the credit reporting agencies. Some accounts will have different information between the credit reporting agencies while others may not even appear on all three reports.   The reason reports differ is because each of the credit reporting agencies collects data independently. Some furnishers including smaller banks and debt collection agencies do not report to all three credit reporting agencies.   Public record information such as bankruptcies, tax liens, garnishments, etc., is sometimes gathered by outside [...]

Understanding Your Credit Report

When people talk about having bad credit, what they mean is that they have unfavorable credit ratings or unfavorable items on their credit report that makes it difficult or expensive to get new credit. How do lenders get your information? The information is taken for the credit applications you have completed, as well as from reports your current creditors make about how well you meet your resources. Lexus Nexus is a big supplier of public information. Who keeps track of all this information? Credit Reporting Agencies are extremely large corporations that make money by compiling financial information about customers and [...]

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