February 14, 2013

How to Establish Credit after Bankruptcy By Vivix Credit Solutions

Posted in Uncategorized tagged , , at 12:08 am by Vivix Credit Solutions

Establishing new credit after a bankruptcy seems nearly impossible to many people. Just about every service offered today requires a credit check. Unfortunately, many creditors refuse to provide credit to people who have declared bankruptcy; those that do may charge higher rates for goods and services. Moreover, many employers today conduct a credit check prior to hiring a candidate.

Begin seeking new credit opportunities immediately after receiving a notification of discharge from the bankruptcy court. Because many creditors at this stage will not consider extending a loan or credit line to someone who has recently declared bankruptcy, it makes sense to apply only to those who are likely to approve an application. Too many inquiries on a credit report automatically lower a person’s credit score, making it even more difficult to establish positive credit.

About Vivix Credit Solutions:
Licensed and bonded, Vivix Credit Solutions helps people emerge from credit setbacks via credit coaching and removal of negative incidents from credit reports, among other services. The company’s experienced team provides strategic advice based on its comprehensive knowledge of the credit industry. For more information, visit VivixCreditSolutions.com.

January 9, 2013

Vivix Credit Solutions Discusses the Importance of Regularly Reviewing Your Credit Report

Posted in Vivix Credit Solutions tagged , , , , at 6:39 pm by Vivix Credit Solutions

U.S. consumers are entitled to receive free copies of their credit report once each year. Unfortunately, approximately 70 percent of consumers fail to do so. As a result, they are not aware of their credit scores and the information on their credit report, which is often incorrect or outdated.

Indeed, credit reports can show duplicate accounts for the same debt, delinquencies for which the statute of limitations has expired, as well as debts that have been previously paid in full. Further, credit reports can show activity that indicates that a consumer might be the victim of identity theft.

Failing to examine your credit reports at least once a year leaves you vulnerable to all of these issues, which may arise only after you are denied financing for a car or home purchase. Because disputing credit-report information can be an involved process, waiting to resolve the situation at that stage usually means lengthy delays, as well as the inconvenience of potentially being unable to make the planned purchase. Thus, it’s vital to regularly review your credit reports and promptly dispute any inaccuracies you may find.

Vivix Credit Solutions, licensed and bonded in California and Nevada, provides a wide range of credit-counseling services to consumers, including credit counseling and repair, as well as debt management. Vivix Credit Solutions is accredited with the Better Business Bureau of Southern Nevada, Inc., and is a member of the Las Vegas Chamber of Commerce and the Ethical Credit Repair Alliance.

December 26, 2012

Eight Tips to Pursing a Loan Modification (Part 2 of 2), Prepared by the Office of Vivix Credit Solutions

Posted in Vivix Credit Solutions tagged , , , at 9:28 pm by Vivix Credit Solutions

In part one of this two-part article, the credit repair experts at Las Vegas-based Vivix Credit Solutions offered some valuable advice on pursuing a loan modification, such as finding out who your mortgage servicer is and filing your application with as much accuracy as possible. In part two, they provide tips on how to handle the actual modification process.

1. Contact the right people at the mortgage servicer. Ask anyone who has gone through the modification process and they will likely tell you about their difficulties in getting in touch with the correct individuals at their mortgage agency. When you do contact someone at your loan servicer for a modification, make sure they work in the loss mitigation department.

2. Maintain realistic expectations about the modification. Once you turn over your application and financial background materials, the process will partially be out of your hands. The mortgage company representative will review the information and determine a monthly payment plan that works in favor of the lender while still allowing the borrower to keep their home. If you cannot afford the proposed modification, let them know why. Suggest a payment plan that would work based on your budgeting calculations. Presenting a well thought-out, concise argument may very likely change their minds.

3. Keep a cool head. The loan modification process almost always leaves homeowners feeling frustrated and angry. Treat the lender’s representative poorly and they will stop working with you or completely ignore you. Treat them professionally and graciously and they will be more flexible in helping you out.

4. Document everything. Keep a detailed paper trail of your communications with your lender. Note everything from the date you spoke with your loan representative to their name and employee number. This information will come in use if you need to hire an attorney or you face foreclosure down the road. In addition, send all documents to your mortgage servicer via certified mail or shipping firms like DHL or FedEx.

November 26, 2012

Overcome Identity Theft with Vivix Credit Solutions

Posted in Uncategorized tagged , , at 9:46 am by Vivix Credit Solutions

Avoiding identity theft is a major concern for millions of people who value their credit scores. A criminal in possession of your personal information may open bank accounts and credit cards in your name. Vivix Credit Solutions of Las Vegas often helps clients repair credit that has been ruined through identity theft.

One way of preventing a stolen identity is to place a 90-day fraud alert on your credit reports. This type of alert will help you determine if any suspicious activity has occurred, and also help prevent identity thieves from opening new accounts in your name. You may order these alerts through TransUnions, Experian, and Equifax, the three big credit reporting bureaus. Extended fraud alerts are also available for those who were previous victims of identity theft if they have police documentation.

Vivix Credit Solutions takes identity theft very seriously, and can help consumers undo damage caused by all types of identity fraud, but it is important to act quickly if you believe someone has accessed your bank account or Social Security number.

November 2, 2012

Vivix Credit Solutions – Credit Counselors Offer Help for Finance 101 to Finance 911

Posted in Uncategorized tagged , , , , , at 8:33 pm by Vivix Credit Solutions

Today, people seek out the services of counselors to work through a multitude of issues. However, when it comes to money, many wait until they’re in serious economic distress before asking for help. If you wanted to learn something new or improve in some area, wouldn’t you seek out someone more knowledgeable to show you the way? Consider the counselors at Vivix Credit Solutions your new financial teachers.

So what can Vivix Credit Solutions counseling do for you? Well, what financial subject are you struggling in? The professionals at Vivix can educate you on an index of issues. Perhaps you just need some guidance to create a plan, budget, or payment structure. If you are struggling with debt, they can help you settle it by reducing your interest rates and removing late fees by negotiating with your creditors.

Now that you’ve reached out for help, the hard part is over. Your Vivix Credit Solutions counselor will analyze your bills and expenses and begin identifying where costs can be cut. From there, the counselor will work with creditors to reduce your interest rates and monthly payments.

Follow-through not for you? Oftentimes, credit counselors at Vivix will set up a repayment account, which serves as an effortless way for you to stick to the agreed upon plan. You pay into the account automatically through your checking account, and the creditors access the money on a set date and use it to keep your payment plans on track. This eliminates the chance you’ll forget to pay a bill on time or spend the money elsewhere. It’s an easy A! Moreover, without even thinking about it, you’re starting the process of rebuilding your credit by making those payments on time.

Part of customizing credit counseling to your needs means working with your schedule. Vivix Credit Solutions counselors can provide you with the level of assistance that best accommodates your lifestyle. Some people may need just a boost, while others may require assistance from start to finish. Regardless, Vivix counselors will coach you in person, via email, via video chat, or over the phone at your convenience.

So regardless of whether you come to Vivix because you’ve hit a rough patch or you have good credit and just want to learn how to manage your finances better in general, your credit counselor can assist you in making the right choices. All you have to do is ask!

Call Vivix Credit Solutions at (702) 434-4414 to schedule a free consultation.

October 6, 2011

Credit Score Face-off: FICO vs. Vantage

Posted in Uncategorized tagged , , , , , , at 9:59 pm by Vivix Credit Solutions

You probably already have a basic idea of how your credit score is calculated. What you might not know is that there are now two assessment strategies, FICO and Vantage, which lenders use to evaluate your credit. Regardless of whether you opt for professional assistance in managing your credit, Vivix Credit Solutions wants you to be informed.

FICO

As easy way to differentiate between the two is to remember that FICO came first. Moreover, FICO utilizes five factors to evaluate your credit:

1.    The history of payments
2.    The length of time you have had credit
3.    The amount you owe
4.    The ways in which the credit is used
5.    Recently opened credit

FICO scores range from 300 to 850.

Vantage

Think of Vantage as basically the same tool, except that it uses a different vantage point to determine the score through its calculations (discussed below). Vantage scrutinizes the same five elements of FICO, but with a sixth factor added, your available credit. Vantage credit scores range from 501 to 990.

Advantage to Vantage?

The main difference between the two credit scoring methods is in the calculation and the percentage that each category is allotted to arrive at your final score. For example, while the two score your payment history roughly the same, there are drastic differences in other categories, such as the balance or amount owed. This can result in very different credit scores for the same individual. Vivix urges consumers to remember that overall, the numbers are relative and financers are aware of the discrepancy.

Regardless of the score, the consultants at Vivix Credit Solutions can help you attain better credit. However, those five factors aren’t going to disappear, so take them into consideration in your future financial endeavors. Paying bills on time will work in your favor, as will paying the credit off over a longer period of time. The latter seems odd—wouldn’t you be more responsible if you paid it off sooner?—but supposedly it shows that you are reliable enough to continue making regular payments despite any stress or adversity. Also, it helps to vary your lenders, rather than carrying a balance on one card. That being said, whether you have one card or a hundred, the more money you owe, the lower your score will be.

So whether you need help just figuring out your credit score or you require professional assistance to manage your debt, Vivix Credit Solutions urges you to call (702) 434-4414 for a free consultation.

May 20, 2011

Vivix Credit Solutions

Posted in Uncategorized tagged , , , , at 9:58 pm by Vivix Credit Solutions

Based in Las Vegas, Nevada, Vivix Credit Solutions provides expert assistance in repairing and rebuilding credit reports. Fully licensed and bonded, Vivix Credit Solutions holds membership in the Better Business Bureau of Southern Nevada, Inc., the Las Vegas Chamber of Commerce, and the Ethical Credit Repair Alliance. Since its establishment in 2006, Vivix Credit Solutions has served more than 5,000 customers. For all services, the experienced professionals at Vivix Credit Solutions guarantee 100% customer satisfaction.

Additional information regarding the services provided by Vivix Credit Solutions can be found online at http://www.VivixCreditSolutions.com.