The Credit Cleanup Book

Preface
Acknowledgments
ONE: Scratching the Surface
A Brief and Not Too Boring History of Credit
The Credit Bureaus
Credit Scoring Is Born
The Love Affair: FICO + CRAs
FICO Score Aliases and Ranges
Three Sides to the Story
But Wait, There's One More
Consumer Protections
The Fair Credit Reporting Act (FCRA)
The Fair and Accurate Credit Transactions Act (FACTA)
Rise of Consumer Debt and Credit Crisis
The New Guard: Dodd-Frank
The Credit Reporting Trail
How Your Actions Are Tracked, Compiled as Data, and Sold
TWO: Getting Prepared
The Practical
Getting Organized
Personal Laptop or Computer Security
Cloud Security
The Mental
Jason Womack's Focus and Goal-Setting Tips
Mary Joan Cunningham's Tips for Clarity and Goal Setting
Jim Hartness and Neil Eskelin's Time Management Principles
It's Time to Turn Your Credit Around
THREE: The Credit Report
Single vs. Tri-Merge Credit Reports
Accuracy by Region
Introducing: Barry Borrower
The Sample Credit Report
Getting Your Credit Reports
Your Options: Free vs. Paid, Scores vs. No Scores
FOUR: The Credit Score
Anatomy of a Score
Payment History = 35 Percent
Amounts Owed = 30 Percent
Length of Credit History = 15 Percent
Credit Inquiries = 10 Percent
Credit Mix = 10 Percent
What Scores Like and Don't Like
Payment History: Pay Your Bills on Time (35 Percent of Credit Score)
Amounts Owed: Keep Your Balances within Reason (30 Percent of Credit Score)
Length of Credit History (15 Percent of Credit Score)
Credit Mix (10 Percent of Credit Score)
Inquiries (10 Percent of Credit Score)
FIVE: Checking and Correcting Your Credit Report
Checking Your Credit Report
Personal Information
Credit and Trade Lines
Inquiries
Crosscheck Your Reports
The Dispute Process
Reinvestigation and Reverification
Target Adverse and Negative Items
Target Erroneous Items
Dispute in Writing, Not Online
The Magic Number: 30 Days
Minimize or Separate Your Disputes per Letter
Send Your Letters to CRAs and the Original Creditor
Follow the Formula
Include Evidence, Only if It Helps
The Letters
Fraud Alerts, Credit Freezes, and Consumer Statements
SIX: Improving Your Credit Score
Credit Improvement Tips
Pay Bills on Time
Keep Your Older Accounts Open
Forget Older Derogatory Accounts
Mind Your Balances
Pay Down Your Debt
Mix Up Your Credit
Limit New Credit Applications
A Word on ChexSystems
Bank Account Alternatives
SEVEN: Managing Debt
Credit Card Debt Is the Costliest Debt
Debt Management Tips
Chris Welker's Tips for Getting out of Debt
What's the Best Way to Deal with Huge Credit Card Debt?
Debt Solutions
Settle, Consolidate, Manage, or Repair
Settling Your Own Debts
Job Loss
Bankruptcy
Your Rights
The Fair Debt Collection Practices Act
Get Validation
A Word on Student Loans
Student Loan Options
Student Loans and Credit
Why Deferment Is Preferable to Forbearance
EIGHT: Credit and Your Life
Credit and Your Home
The New American Dream
Housing Squeeze on the Horizon
The Sharing Economy
That Was Then: Subprime Mortgages
This Is Now: New Mortgage Rules, New (Safer) Subprime
Credit and Entrepreneurs
Credit and Business Loans
Startup Funding and Alternatives to Business Lending
Credit and Services
Credit and Employment
Credit and Love
Wrecked by an Ex
Important Questions
A Good Credit/Bad Credit Partnership
Marriage, Divorce, and Credit
NINE: Practice Makes Habit
Positive Credit and Money Behaviors
The Latest and Greatest Apps and Tools
Simple
Mint
Moneytrackin'
BillGuard
Check
For Small Business Owners and Entrepreneurs
Educational Resources
Investing
Endnotes
Get on Track with Positive Credit Management Behaviors
Notes
Additional Resources
Index