Foreclosure on your credit

Today was a crappy day for my cousin. She just filed foreclosure. I am an investor and I couldn't afford to buy her house because the market in our area is just so bad. Now, she feels like she has ruined her credit. Will she be able to buy a new home when the money starts coming in again. What can she do to start over? This can happen to all of us and guess what..................You can start over. It will happen slowly but you will succeed. Start with rebuilding your credit by getting a credit card. Try Capital one. They gave me a chance when no one else would. Then pay all of your credit items on time. It may take a year but track your credit score carefully. Try using one of the credit bureaus. I have used them all. Then buy yourself a nice used car and get it financed. One of the best places to begin is ata local credit union if you belong to one. They are the most forgiving for big credit issues and they truly charge less interest. The foreclosure will stay on your credit but you can rebuild. Anyone else experience this?

Identity theft is very real

Can you believe that in today's times a person can steel your identity and you will be left with the honor of proving that you are you? Well it happened to me. I lost my purse about 13 years ago. At that time I lived in Detroit. I moved to Chicago and while I was trying to turn my telephone on in my lovely Chicago apartment my parents received a phone call from the fraud department at the phone company. They asked my father of all people a series of questions and he (being an ex-marine) asked them a variety of questions. Finally, I called the phone company to straighten things out and they DID NOT BELIEVE ME. They accused me of having 6 different phone lines in Detroit and now I was trying to get 1 in Chicago. So, I pulled my credit report and I was surprised to find that I had spent a couple of thousand dollars at homedepot which was never paid and I was writing bad checks on a closed account all over the Detroit area. I wrote letters to the credit bureau and contacted all of the accounts. The nightmare took about 1 year to get under control. Now my credit is solid again and I am doing great until, I move back to Detroit and decide to turn on my phone in my bright new shiny house. Guess what happened. The phone company sent me a bill and a shut off notice. This time since it was about 6 years later I kept all of the information and called the phone company sent in copies and got it handled. I moved away again and returned back to Detroit about 2 years later (this time to get married). Now Well you will never guess what happened. Oh yes, that annoying phone bill came back AGAIN. This time I felt so fed up, I paid it. BIG MISTAKE!!!! Once I paid it. The phone company had the nerve to put a negative note about me being severly delinquent on my credit file. This hurts your score by around 25-30 points. So, I started my writing campaign again. It was my fault this time because I should not have paid it. PLEASE TAKE NOTE OF THIS. IT WAS THE PHONE COMPANIES ERROR. After contacting the credit bureaus and the collector I was able to resolve the issue. Proving that you did not commit the crime was the most difficult obstacle I had to overcome.

If this happens to you. DO NOT GIVE IN AND PAY THE BILL. Write letters and document all of your phone conversations. It will take time but you can get this issue resolved without a lawyer if you are diligent. Get your typing fingers ready. Send letters to the credit bureau and keep copies for yourself.