| Document Type
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BL
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| Record Number
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1003037
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| Doc. No
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b757407
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| Main Entry
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Weston, Liz Pulliam.
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| Title & Author
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Your credit score : : how to fix, improve, and protect the 3-digit number that shapes your financial future /\ Liz Pulliam Weston.
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| Publication Statement
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Upper Saddle River, N.J. :: Pearson Prentice Hall,, ©2005.
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| Page. NO
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xvii, 171 pages ;; 22 cm
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| ISBN
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0131486039
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: 9780131486034
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| Notes
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Includes index.
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| Contents
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1. Why your credit score matters -- How your credit score affects you -- What it costs long term to have a poor or mediocre credit score -- How credit scoring came into being -- How credit use has changed over the years -- Consumer's fight for truth about credit scores -- Credit controversies -- Credit scoring's vulnerability to errors -- Credit scoring's complexity -- Credit scoring's use for noncredit decisions -- Credit scoring's potential unfairness -- Conclusion -- 2. How credit scoring works -- What is a good score? -- Your credit report : the building blocks for your score -- How your score is calculated -- The five most important factors -- Your payment history -- How much you owe -- How long you've had credit -- Your last application for credit -- The types of credit you use -- Your credit scorecard -- Your results might differ -- How do I get my score? -- 3. Improving your score, the right way -- Step 1 : start with your credit report -- Check the identifying information -- Carefully review the credit accounts -- Parse through your inquiries -- Examine your collections and public records -- Dispute the errors -- Step 2 : pay your bills on time -- How to make sure your bills get paid on time, all the time -- Automatic payments -- Recurring credit card charges -- Online bill payment -- Just pay your bills as they come in -- Step 3 : pay down your debt -- You need to reduce what you owe, rather than just moving your balances around -- You might need to change your approach to paying off debt -- You need to pay attention to how much you charge, even if you pay your balances off in full every month -- How to find money to pay down your debt -- Step 4 : don't close credit cards or other revolving accounts -- Step 5 : apply for credit sparingly -- How to get a credit score if you don't have credit -- Check your credit report, if you have one -- Set up checking and savings accounts -- Use someone else's good name -- Apply for credit while you're a college student -- Apply for an alternate card -- Get an installment loan -- Credit scores without credit.
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4. Credit scoring myths -- Myth 1 : closing credit accounts will help your score -- Myth 2 : you can boost your score by asking your credit card company to lower your limits -- Myth 3 : you can hurt your score by checking your own credit report -- Myth 4 : you can hurt your score by shopping around for the best rates -- Myth 5 : you don't have to use credit to get a good credit score -- Myth 6 : you have to pay interest to have a good credit score -- Myth 7 : adding a 100-word statement to your file can help your score if you have an unresolved dispute with a lender -- Myth 8 : your closed accounts should read "closed by consumer," or they will hurt your score -- Myth 9 : credit counselding is worse than bankruptcy -- Myth 10 : bankruptcy hurts your score so much that it's impossible to get credit -- 5. Coping with a credit crisis -- Step 1 : figure out how to free up some cash -- Step 2 : evaluating our options -- Task 1 : prioritize your bills -- Task 2 : match your resources to your bills and debts -- task 3 : figuring out a repayment plan -- The real scoop on credit counseling -- Should you file for bankruptcy? -- The type of bankruptcy you file matters -- Step 3 : choose your path and take action -- Option 1 : the pay-off plan -- Option 2 : credit counseling -- Option 3 : bankruptcy.
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6. Rebuilding your score after a credit disaster -- Part I : credit report repair -- Scrutinize your report for serious errors -- Know your rights -- Organize your attack -- What you need to know about unpaid debts and collections -- What you need to know about statutes of limitations -- Should you pay old debts? -- Paying old debts can actually hurt your credit score -- Just contacting an old creditor can leave you vulnerable to a lawsuit -- You're often not dealing with the original creditor -- You might be exposing yourself to some pretty nasty characters -- "But you've got the wrong guy!" -- Part II : adding positive information to your file -- Try to get positive accounts reported -- Borrow someone else's history -- Get some credit or charge cards if you don't have any -- Apply for a secured card -- Get department store and gas cards -- Get an installment loan -- Consider a cosigner -- Make sure your credit limits are correct -- Part III : use your credit well -- Pay bills on time -- Use the credit you have -- Keep your balances low -- Pace yourself -- Don't commit the biggest credit repair mistakes -- Hiring a fly-by-night firm -- Failing to get it all in writing -- Reviving the statute of limitations -- 7. Identify [sic, i.e. Identity] theft and your credit -- How to reduce your exposure to identity theft -- Buy a shredder -- Get a locking mailbox -- Protect your outgoing mail -- Keep track of your receipts -- Keep your financial documents under lock and key -- Get stingy with your social security number -- Know what's in your wallet -- Ask about shredding policies -- Don't let your debit card out of your sight -- Opt out of credit card solicitations, junk mail, and telemarketing -- Don't use a cell or cordless phone to discuss financial matters -- Be wary of telephone solicitors and emails purporting to be from financial institutions -- Monitor your social security statements -- Monitor your credit reports -- Does credit monitoring work? -- What to do if you're already a victim -- Keep good notes of every conversation you have regarding the ID theft -- Contact the credit bureaus by phone and then with a follow-up in writing -- Contact the creditors by phone and then with a follow-up in writing -- Contact the police or local sheriff -- Contact bank and checking verification companies -- Contact the collection agencies -- Get legal help -- Don't give up -- When parents steal -- What to do if the credit bureau won't budge.
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8. Emergency! Fixing your credit score fast -- Repairing your credit in a matter of hours : rapid rescoring -- Boosting your score in 30-60 days -- Pay off your credit cards and lines of credit -- Use your credit cards extremely lightly -- Focus on correcting the big mistakes on your credit reports -- Use the bureaus' online dispute process -- See if you can get your creditors to report or update positive accounts -- What typically doesn't work -- Disputing everything in sight -- Creating a "new" credit identity -- Closing troublesome accounts -- Paying off collection accounts -- 9. Insurance and your credit score -- History of using credit scores to price insurance premiums -- But what's the connection? -- What goes into an insurance score -- Keeping a lid on your insurance costs -- Start thinking differently about insurance -- Raise your deductibles -- Don't make certain kinds of claims -- Be a defensive driver -- Use the right liability limits -- Drop collision and comprehensive on older cars -- Shop around -- Protect your score -- 10. Keeping your score healthy -- The do's of credit health -- Pay off your credit card balances -- Have an emergency fund -- Have adequate insurance -- The don'ts of credit health -- Don't buy more house than you can afford -- Don't overdose on student loan debt -- Don't raid your retirement or your home equity to pay off credit cards -- Credit and divorce : how your ex can kill your score -- Get your credit reports -- Take action -- Don't be late -- Dealing with mortgages, car loans, and other secured debt -- Consider a fraud alert -- Look for lenders who aren't FICO-driven -- In conclusion : the three-year solution.
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| Abstract
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A complete action plan for improving your credit score - starting today! Information that could save you thousands on credit and insurance even help you get your next job!
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| Subject
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Consumer credit-- United States.
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Credit ratings-- United States.
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Credit scoring systems-- United States.
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| Subject
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Consumer credit.
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Credit ratings.
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Credit scoring systems.
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United States.
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| Dewey Classification
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332.743
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| LC Classification
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HG3751.7.W47 2005
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| NLM classification
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332.7 W535y
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