Nov 252014

Preparing TO START your independent life as young adult on your own can be fun and exciting, but, it also means taking on new responsibilities. Credit decisions you make now can and will have long term consequences.

Do you know that your credit history has a direct impact on your ability to get?
• Utility Services
• Cell phones
• Jobs
• Rent an Apartment
• No Flight List
• Insurance
• Potential Lenders

A file about you is created by the first legitimate inquiry from one of the above mentioned sources; when you start applying for a credit card, a personal loan, or insurance etc…

This document is called a CREDIT REPORT and is maintained by the credit reporting companies, such as Equifax, Experian and Trans Union. Your credit report will in time, show inquiries and periodic reports from credit grantors, mainly BUT NOT EXCLUSIVELY!

Credit reports also list:

• Your residential address
• Place of employment
• How you pay your bills
• Legal – judgments, bankruptcy etc…
• 3rd Party Collection Agencies trying to collect skipped accounts

This information is used to evaluate your application for credit, insurance, employment, or renting a place to live, in other words YOUR CREDIT WORTHINESS = How much of a RISK are YOU?

It is advisable to obtain a copy of your credit report and make sure the information reported is accurate, complete and up-to-date, before, applying for a loan for a big ticket item like a car loan, insurance, mortgage or apply for a job.

This step also helps guard against IDENTITY THEFT; this can be one of the worst experiences to go through!

Constant vigilance is the most prudent way to protect your valuable information! Get in the habit of obtaining a copy of your credit report at least twice a year.

Identity theft is when some unauthorized entity uses your personal information, such as:

• Your name
• Social Security Number
• Credit Card Number

Usually, identity thieves use your good information to open new lines of credit and when the debt is not honored per the contractual agreement, this derogatory information is reported on your credit report. It becomes your responsibility to exonerate yourself from the bad or inaccurate information, however, in the mean time your ability to get credit, insurance or a job is affected. (See my e-article “Identity Theft – Protect Yourself”)

BACKGROUND CHECKS – some employers check into your background either before deciding to hire you or keep you on the job. One of easiest and cheapest ways of doing this is by pulling your credit report. Please note! You have rights under federal, state and city laws.

Cristina Yasakci
tel 303-997-3375 | fax 303-997-3376

Jun 302014

Debt Notices and Phantom Debts


When you receive an unexpected Collection Letter or a threatening phone call it can be very intimidating, especially when you know that you don’t owe money to anyone that has gone into 3rd party collection.


Receiving a letter or phone of this nature can be very stressful – Keep Cool, Calm and Collected and pretend to work with them…..




These documents or callers can have your name, address, Social Security Number and even Your bank account number  with an office seal, signed by a judge etc…don’t panic it’s a scam!!!



It is a new twist on an old scam; criminals impersonating law firms, judges, and court officials.

Their sole purpose is to convince you to send them money!


Take ALL their contact information and plus details about debt and arrange for a 24 hour grace….



Take note of these alerts:

  • seeking immediate payment on a debt for a loan you do not recognize
  • not providing a mailing address or phone number; that you can check on
  • request for personal financial or sensitive information
  • threatening to take immediate legal steps, such as: to have you arrested or to report you to a law enforcement agency.

Here are some tips how to fight fake debt collectors:


  1. 1.       Ask them to properly identify themselves, obtain the following information about the organization: Ask the caller for his name, company, street address, and telephone number.


  1. Request for a “validation notice” do not discuss any details about the debt in question until you receive the following information in writing: The amount of the debt, the name of the creditor you owe, and your rights under the federal Fair Debt Collection Practices Act and Your State Laws.


  1. Try to speak as little as possible, if you have been able to obtain the caller’s mailing mail a letter (registered/certified if want to spend the money) demanding an immediate stop to these calls, and keep a copy for your files. If, they are real debt collectors they must stop calling you if you make a written request. This is the law!


  1. Never give out personal or sensitive information like your bank account, credit card, or Social Security number unless you have absolute confidence with whom you are dealing with. Remember, this information can be used to commit identity theft.


  1.  Contact your creditor and alert them about the situation, if the debt is legitimate but you have your doubts about the collector. Discuss the details of the suspicious call or letter and find out whom, if anyone, the creditor has authorized to collect the debt.


  1. Contact the LAW – you can contact your state Attorney General’s office regarding suspicious collections letters or calls. Many states have their own debt collection laws in addition to the federal FDCPA – determine your rights under law.



Check your Credit Reports from Equifax, Trans Union and Experian at least twice a year!


This article has been brought to you through the courtesy of:

Demystifying Credit – credit cards, line of credit, overdraft protection and loans


If, you LIVE in AMERICA you have to know the rules that govern the credit world




Jul 172013

There is no such thing as a quick fix in consumer credit; it takes time and knowledge of how the consumer credit world works to become creditworthy. You can do your own credit repair with a little effort and planning.

A credit repair agency cannot improve your credit score if it is based on your accurate credit information. Your credit report should include items permitted under the law, if the information reported is correct then there is nothing a credit repair agency can do to improve your credit report. Credit repair agencies cannot remove unfavorable but accurate information from your report.

Credit repair agencies do not have any special powers to do anything you cannot do yourself for FREE.

Watch out for companies that say they’ll “fix” bad credit for a fee — often substantial, usually payable in advance. So-called credit repair clinics say they will arrange to have negative credit information removed from your record — including information about bankruptcies and default judgments.

If you do decide to hire a credit repair agency, they must give you a written agreement that itemizes the services and goods they will supply, when they are going to start and when they are going to complete their services and the total amount you will be charged. A credit repair agency may not demand advance payment, or any payment at all unless its services result in a material improvement to your credit report.

According to the Federal Trade Commission

The Credit Repair Organization Act (CROA) makes it illegal for credit repair companies to lie about what they can do for you, and to charge you before they’ve performed their services. The CROA is enforced by the Federal Trade Commission and requires credit repair companies to explain:

  • your legal rights in a written contract that also details the services they’ll perform
  • your three day right to cancel without any charge
  • how long it will take to get results
  • the total cost you will pay
  • any guarantees

What if a credit repair company you hired doesn’t live up to its promises? You have some options. You can:

  • sue them in federal court for your actual losses or for what you paid them, whichever is more
  • seek punitive damages — money to punish the company for violating the law
  • join other people in a class action lawsuit against the company, and if you win, the company has to pay your attorney’s fees

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375

E-mail me:


Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best or try to deal with the issue when buying a big ticket item.

Jul 102013

A potential lender would primarily assess a borrower’s creditworthiness by their credit reports and in turn their credit scores. Your bill payment history is one of the main criteria for creditworthiness; the strength of your credit history is what determines if you qualify for a credit card, a home mortgage or a car loan and at what interest rate!

Have you always paid your credit card payment on time? This is one of the most crucial pieces of information reported on your credit bureaus.

Not receiving a monthly statement does not exonerate you from paying on time or the correct minimum payment.

Pay consistently and on time.

Credit Card Companies mail out statements as a courtesy – it is your responsibility to follow-up on the missing statement, but more importantly to contact them and make sure payments are on time.

To earn a good to excellent credit score you have to pay all of your bills, loan installments and credit card payments on time, religiously. Late Payments are reported on your credit reports for years to come and decrease your credit score. You have to abide to your contractual agreement, you promised to pay on-time.  You can make extra payments anytime, but the minimum payment has to be done by a certain date – there is absolutely no flexibility!

Avoid the small and large mistakes that can decrease your credit score for years!

Schedule some quite time on a weekly basis and get into the habit of reviewing your credit card statements and paying them as soon as they show up in the mail or on your e-mail in-box.

  •  Consider setting up online accounts to pay all of your bills electronically; you can schedule post dated your payments.


  • Mail your payments in the return self-address envelope enclosed with your monthly credit card statement to make sure your payments are being delivered to the correct address and department. Mail the envelope 5-7 business days before the payment due date, this information is clearly marked on you statement. Be mindful of holidays, particularly Christmas and New Year the mail services tends to be a little slower during this season.


  • You can make payments at any of your bank’s banking centers and make your payments at the counter with the help of a live teller.


  • Pay by Phone

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375

E-mail me:

Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best or try to deal with the issue when making a big ticket item.

May 202013

Your credit score is a simply 3 digit number that represents the sum of the information contained on your credit report. It helps lenders to decide your credit worthiness.  Your credit score will be used to determine your approval for a loan and how much it will cost you, in other words the Interest Rate you will be approved at.

High-Risk = High Interest Rate

Here a couple of things that also affects the interest rate on your car loan:

  • Term

In most cases shorter term car loans tend to have a lower interest rate. The risk factor is lessened by term of the loan; less time for things to change in your life that make an impact on your ability to pay. You should note that the shorter the term the higher the monthly payments.

  • New Car vs. Old Car

It is a common practice in the automobile financing industry to offer lower interest rates for new cars and higher interest rates for used cars. Credit Unions might be an exception to this rule.  Credit Unions tend to offer the same rates to both new and used car financing, but their lending criteria tends to be more astringent. A Good Credit Score representing low-risk it far more important to a credit union.

  • Geographical/Region of the country

Automobile financing through banks and other financial institutions offer different interest rates in different parts of the country. Borrowers with similar credit profiles and income etc… might qualify at the different interest rate in the different parts of the country.

Please note, these are the usual things that affect the interest rates when borrowing through a bank or other financial institution, automobile financing through the dealership may work differently.

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375

E-mail me:

Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best.

May 202013

Overwhelmed by your Debt situation and don’t know where to start?

This is your opportunity to Learn the Secrets of the Credit Industry and Get Debt Free Years Sooner.

The Journey to Credit Debt Freedom Can Begin with One Step.

Imagine how it would feel never to worry about debt again.

But it is easier said that than done, right?

Taking a cold, hard look at how much you really owe can be sobering – yet empowering. You’re taking your first step from being in the red to getting back in the black.

Here are a few simple steps you can take to start taking charge of your credit debt:

Get a copy of all 3 of your credit reports –

The Fair Credit Reporting Act permits consumers to request a free copy of their credit report once every 12 months.




  • Lay it all out

By using your credit reports as a guide make a list of all the debt reported on your separated credit reports; not all creditors report to all 3 credit reporting agencies. Make sure to check for Unpaid Collections and Unsettled Judgments section of your credit report.

  •  Prioritize your debts

Pay off the highest-interest debts first; usually those tend to be credit cards even if they have low balances, before tackling the five-figure line-of-credit balances. Your highest interest rate debt is your most expensive debt.

Car loans are particularly important to scrutinize, remember you are paying interest on a product that depreciates as time goes by. (watch out for my article on automobile financing sources – the pros and cons)

Recording your balances in a meaningful and organized way will help you to track where you have come from and where you are going.

  •  Assess where you spend – and where you can save

By using your credit reports as a guide find out how much you spend each month and think about where you can save. Write down what you spend on, starting with your Mortgage, Credit Cards, Personal Loans, ALL your Debt Payments.

  • Make a household budget

Sit down with your family and prepare a household budget. But first, do not forget to study your credit report, work your way down list of creditors and outstanding balances. Prepare a detailed budget that allows you the opportunity for savings on the interest rates. Try to start making extra payments through the month on the higher interest rate debts. This would also help you see your spending pattern and identify where to can start making small changes in your spending habits.

Don’t forget to include the following when creating your budget:

Cable TV

Car fueL

Car insurance and license

Car repairs and service

Charitable donations

Child care

Child support/Alimony


Dental expenses

Entertainment, recreation, movies




Life insurance

Medical expenses, prescriptions, eyewear


Newspapers, magazines, books

Parking Fees

Personal items

Property and contents insurance

Property taxes

Public transportation

Savings (bank account, 401K)

Telephone/Cell Phone

Utilities, such as water and electricity etc…

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375

E-mail me:

Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best.

May 152013

Many employers and prospective employers routinely check credit reports to assess a candidate’s financial honesty and personal integrity. A candidate would be considered a poor security risk, if they are carrying a high debt ratio. This could be an indicator of a lifestyle beyond their means reflecting a poor security risk. This is not the only negative data that might jeopardize your career prospects.

If a decision was based on incorrect information on your credit report, which it could take months to correct, it is quite possible by that time someone else will have been hired for the position.

A candidate’s financial integrity is particularly import in the following industries:

  • Defense
  • Chemical
  • Pharmaceutical
  • Finance

An employer needs your permission to run a credit check.

While other black marks can be used against you, technically a bankruptcy cannot.

An employer is supposed to tell you if credit information is used against you.

Federal law allows employers and prospective employers to access a special version of your credit report for employment purposes, only.

Employment Credit Reports show:

  • Personal Loans
  • Home Equity Loans
  • Consolidation Loans
  • Car Loans
  • Lines of Credit
  • Credit Cards
  • Term Loans
  • Secured Loans (Private if registered)
  • Judgments
  • Paid or Unpaid Collections

Employment Credit Reports DO NOT show:

  • The actual account numbers for the types of credit listed above
  • Spousal Information

It is advisable to periodical check your credit reports and correct any serious errors you might find.

Order your Free Credit Reports from: , you have to pay to obtain your credit scores.




Also see:



Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call: 303-997-3375

E-mail me:

Apr 292013

Welcome to Cristina’s Credit Sense – The future of your Credit Success begins here!

Part 1 of 4

Credit is a privilege not a right!

I am here to demystify Credit for you. As a consumer of credit, you need to know how it all works. You might think there is awful lot information on the internet – True

But, do you know how it all works behind the scenes? Do you have the time to basically learn a new profession? Yet, this is something that has an immediate impact on your everyday life.

  • Lenders may use your credit report information to decide whether you can get a loan and the terms you get for a loan (for example, the interest rate they will charge you).
  • Insurance companies may use the information to decide whether you can get insurance and to set the rates you will pay.
  • Employers may use your credit report, if you give them permission to do so, to decide whether to hire you.
  • Telephone and utility companies may use information in your credit report to decide whether to provide services to you.
  • Landlords may use the information to determine whether to rent an apartment to you.

You are constantly told how important it is to have good credit – what is good credit? How do you get there? What are the rules? Do you have hours and hours to learn the rules and then actually use them? Probably not!

Continue to The Easy Button for Your Credit Questions…


Part 2

Think of it this way! You knew it was fun and necessary to drive, so you went to driving school and learned the rules of the road. Got tested and passed! If, you didn’t learn to drive and the rules of the road, the outcome would be downright life threading and definitely not much fun. Yet, most consumers of credit never even know the rules and regulations and even more important how do lenders/credit granters do their jobs! And, if you think that the bank officer that you speak to is actually aware of the credit guidelines of their own institution – think again! The average bank representative’s responsibility is to promote and sell the bank’s products – that’s what they get paid for. The person that actually decides is behind the scene probably in a different state and time zone.

Most of us apply for credit and hope for the best! It is time to Be Proactively Credit Wise!

Credit Cards, Personal Loans, Consolidation Loans, Mortgages, Car Loans, Home Equity Loans all of these are approved by different standards by the same bank or finance company.

The Easy Button for Your Credit Questions


Part 3

I have been involved in this industry for over 20 years, starting at Equifax and moved on to different types of lending and collection positions. Yes, I am a Senior Credit Analyst, in other words – I am that faceless person that makes the decision, if you are going to get approved and how much of a risk is my company willing to take on you. As a lender/credit granter I love to see consumers with R1 credit reports, but how do you know what R1 is and how do you get there? So, you have to know the rules and how to get there. You took lessons for driving safely, now is the time to learn how to navigate your credit report to a R1. Learn the industry secrets from a professional lender to help lenders grant you all the credit you ever ask for!

Use Credit for YOUR OWN PROFIT


Part 4

I am a real person here to offer all the help you need to WIN AT THE CREDIT GAME, by purchasing my short and simple e-books and e-articles, plus 3 questions and answers. All included in the purchase price.

Finally, a real person on your side to listen to your questions, problems or better still to get you to the same level the lending officers operate at.

Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call: 303-997-3375

E-mail me:

Apr 292013

Never miss making the minimum payments on time on your credit cards, car loans, personal loans, etc…No matter what the circumstances!

Anytime you miss paying the minimum payment on the due date or pay less than the minimum, you are considered late. This information is reported to the credit reporting agencies.

Missing monthly payments might not seem like a big deal, but it is one of the worst things YOU can do for YOUR credit report. Your Credit Grantors and Lenders take a deem view to late payments behind the scene. They may not contact you and actively demand payment, particularly for the first 30 to 60 days, but this information will be listed on your credit reports for 7 years.

You might be assessed late fees, compounded interest, your interest rate might be raised making it more expensive to carry a balance or just be charged a higher interest rate next time you try to borrow.

A single late payment might not do too much damage, but creditors will determine your risk as a borrower for months if not years in the future based on this information. The higher number of late payments aka delinquencies, the worse for your credit score. Your payment history makes up 35% of your credit score. Credit Scores range from 300-850, these numbers a derived by assessing your credit history.

I cannot stress enough the importance in using credit the right way to build and maintain a STRONG credit score; late payments are exactly the kind of data that affects your credit score.

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375

E-mail me:


Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best.

Apr 252013

Recent information from the Federal Trade Commission – April 2013

Credit Consumers that went through a serious negative life event — such as:

Death of a family member or close friend
Serious injury
Illness in the family
Job loss

These credit consumers experienced nearly 4 times higher Debt-Related Fraud, prior to this recent survey.

Do NOT respond to any communication requesting your valuable personal data or financial information, such as: credit card or debit card information, etc…

This is called phishing…….

These requests can come in the form of:

Phone calls
Text messages etc…

Here are a few hints how to deal with Identity and Credit Fraud!

Do NOT click on any links
Do NOT offer any information on the phone
Contact your Credit Card Company, Fiduciary Institution or Bank
Order Your Credit Reports from the 3 nationwide credit reporting agencies
Place an Alert Statement

  • Equifax         –  800-525-6285
  • Experian      –  888-397-3742
  • TransUnion – 800-680-7289

Also see:



Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375

Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best.

Apr 232013

Is Your Credit in Order?

Creditors use your credit report and credit score to determine to grant you a mortgage and what interest rate to charge you. It is critical that you get a copy of your credit reports and credit scores a few months before making such a major purchase.

Your credit rating may be the single most important piece of financial information you have to obtain a mortgage at the best interest rate. Credit Scores have names, such as: FICO and BEACON, depending on the credit reporting agency.

Order your Free Credit Reports from: , you have to pay to obtain your credit scores. Arm yourself with the same information that lenders, bank managers, mortgage specialties and mortgage brokers will use to determine if you qualify to be approved and at what interest rate.

Check your report thoroughly to make sure there is no negative or incorrect information that could hurt your chances of getting a favorable mortgage.

Spend the time to get things in order:

  1. Catch up on any overdue payments
  2. Unpaid collections reporting on the credit report
  3. Outstanding balances still showing on the credit report, although you have paid in full
  4. Total debt showing o on the credit report, such as: credit cards, car loans, personal loans
  5. Unsettled judgements
Apr 232013

One of the most negative items listed on your credit report is a collection paid or unpaid.

This negative information will show on your credit report for seven years or until the statute of limitations runs out, which­ever is longer.

Some credit specialists may suggest you are better off waiting until the statute of limitations is up on the account and having it fall off your report in seven years.  Beware that seven years is a very long time and this negative information will be viewed by all.

Your credit history has a direct impact on your ability to get:

  • Utility Services
  • Cell phones
  • Jobs
  • Rent an Apartment

Credit reporting companies must investigate the items you question. If this investigation does not resolve the dispute to your satisfaction, you can post a “statement of the dispute” in your file.

But, you are better off taking charge and negotiating a settlement directly with collection agency.

  1. Obtain your credit reports. The Fair Credit Reporting Act permits consumers to request a free copy of their credit report once every 12 months. Visit to get your free credit report.
  2. Target the unpaid collections listed on your credit reports.
  3. Contact the reporting collection agencies. Negotiate a settlement in writing, before, you pay them.
  4. Fax the “Settled or Paid” letter to all 3 credit reporting agencies.

A paid collection does not raise your credit score, but is goes a long way in showing your good faith and character.

Credit scores work on the basic concept, that past habits and attitudes of the individual in this case the “Credit Consumer” will reflect their future behavior. This is called Risk Management.

Loan Managers and Personal Bankers do not work with just your credit score. If you are going to apply for a Personal Loan or Mortgage, these attempts to take care of past debt can be seen as favorable.

Also see:




Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best.


Apr 232013

Take into account all the pros, cons and responsibilities involved in getting joint credit as a couple. Societies approach to Marriage or Long Term Relationships have changed a lot in the last few years – Credit Rules have not!  Improve your credit literacy.

A joint credit loan includes you and your spouse’s income, financial assets, and most important your combined credit history.

The benefit is that the credit grantor assesses your collectively credit reports and financial profiles; your financial picture may prove much stronger in helping to get approved for better credit terms. You pay less to borrower!

This can be a good thing or not, when it comes to your respective credit reports! If, both partners have R1 credit reports it is a good thing. Banks and finance institutions usually welcome a joint application; it strengthens the deal by adding the paying power of two incomes; limiting the risk factor.  However, if one of the partners is less than R1 in their credit report, this could affect either the approval or the interest rate of the approval.

Understand your obligations – Joint Credit means both of you are responsible for ensuring that debts are paid, no matter where the marriage or long term relationship ends.

You are both responsible for the debt; even if you separate and/or divorce the debt obligations are assigned to each spouse.

The danger here is that a bitter ex-spouse can seriously jeopardize your credit history through these jointly-held accounts.

Joint accounts will appear on both of your credit reports, so if one of the ex-spouses does not pay per contractual agreement, this information will reflect on both credit reports.

Get Credit Wise, also see:




Apr 232013

The purchase you transact today on credit will grow in debt tomorrow and the next day! Credit is Debt; however, R1 credit will also empower you to access the better things in life.

Learn to use credit wisely! Interest is relentless, it will change and grow. Credit also gives access to many things that add fun and enjoyment to our lives. The trick is learning how credit works, the rules credit grantors operate by.

Credit comes in many forms –credit cards and personal loans, overdraft protection, installment plans and many more!

How do you position yourself to get approved for the best terms of service and interest rates?

When you are ready to go for credit, be a smart shopper. Lenders or Creditors are here to lend or extend credit, as long as YOU are a Safe Risk.   Are YOU a good bet? Are YOU going to pay them with Interest and on Time?

Your Credit Report is the most important document in the overall process of getting approved for credit at the best interest rates. Your Credit Rating which is reported on your Credit Report is usually the first document the credit granter will check. Once, you have R1 Credit Rating, banks, loan outlets and credit card companies will welcome you with open arms. Now, you can be a smart shopper, because, you have the credit report they want to see!

You have mastered the ability to qualify for credit at the terms YOU Want. WIN AT THE CREDIT GAME.

Learn the secrets to help lenders grant you all the credit you ever ask for on your terms!

See the following articles: