Written by Mark Hergert1
Published on 01 April 2013 Hits: 5482

Credit Report 


 Credit Score Information


What should I watch for in my credit report?


In addition to confirming your basic information, such as your name, address, and social security number, also watch for errors and signs of fraud:

  • New accounts that you do not recall opening
  • Derogatory information that is not up to date, such as loan payment history (note that bankruptcies stay on your credit file for several years)
  • Derogatory information that is incorrect, including missed payments, collection actions, eviction, or repossessions
  • Excessive inquiries into your file.


Why is it important to check my credit report?

It's wise to check your credit report frequently for signs of fraud. If someone obtains your social security number, only a few additional pieces of information are necessary to perpetrate fraud in your name. Common types of identity theft include fraudulent bank accounts, credit cards, utilities, and loans. According to the FTC, victims of identity theft spend an average of 175 hours and $800 to clear their names. Early detection is the key to avoid suffering long-term financial consequences.


How long does it take for a closed account to be removed from my credit file?

The file will be updated in 30 to 60 days, but public records such as court actions and collections remain for seven years. Note that it may take anywhere from a few weeks to a few months to correct an error in your report.


Why is my credit score so important?

Your credit score is used by lenders to represent your overall level credit risk. It is essentially a numerical summary of the information in your credit report. The higher your score, the better your credit, and the more likely lenders will be to give you a favorable interest rate on a loan. Each of the three major credit bureaus has its own method for determining a credit score, but they are essentially equivalent.


How high or low can my credit score be?

Credit scores range from 350 to 850 - the higher your score, the more favorable interest rates you will receive on a loan.


Will checking my credit report adversely affect my credit?

Requesting your own credit report will not affect your credit rating. On the other hand, inquiries such as mortgage, loan and credit card applications will affect your score if several of these inquiries occur over a relatively short time frame. Some studies have indicated that this suggests you may be a higher credit risk.




Written by Mark Hergert
Published on 26 November 2011 Hits: 5405

Understanding the Basics of a Credit Score

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My credit score - is it really important? 

Your credit score has more of an effect on your chances of approval than you think. A bad credit score can cause you to pay much higher loan interest rates and can adversely affect your ability to get a new or used auto loan. Many people are unaware that auto loan companies check your credit before even negotiating the price or interest rates. 

Beware when applying with other online companies

The biggest auto financing mistake buyers make is trying to buy a new or used car without first checking online with Auto Credit Financial for auto loan rates.  Knowing your credit history and required information can help with getting an auto loan.  Don't wait until you reach the dealer. Applying for new or used car financing other than Auto Credit Financial could be a costly mistake. 

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Why should I apply ?


Car dealerships sometimes offer in house financing, which means they will carry your loan instead of going through an outside bank or finance company. The interest rate is normally considerably higher than that of the bank or finance company because the dealership will have lower qualifying standards than these institutions. Another reason for the higher rates is that the dealership is now taking on the risk of nonpayment and not passing it along to a third party finance companies also offer some loans to people with bad credit or no credit, but do so with higher interest rates because they are now taking on this risk. 

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Written by Mark Hergert
Published on 13 August 2011 Hits: 5197

Tips on Maintaining

 Your Credit Score

By: Mark Hergert CEO

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Keeping your credit clean is a matter of due diligence and you should make it a priority to give yourself a "credit checkup" every year, much like you would make it a priority to get a medical or dental checkup. 

Even if you don't think you have credit problems, you should get copies of your credit report. You can get them from TransUnion, Equifax, and Experian. Check these to make sure everything listed is correct. If you find errors on your credit report, clear these up immediately.

If you apply for a credit card or loan, then you can get all 3 credit reports for free. Additionally, if you receive a letter that denies you credit, make a copy of it and enclose it with your written request for a copy of your credit report.

Most debts that are over 7 years old may not appear on your credit report.  If this is the case, don't open up old wounds by going looking for them! Many creditors, after 7 years of having no contact, will write off the debt. In some cases they will continue their efforts to locate you.  Either way, don't open Pandora's box if the debt isn't listed on your credit report.

Be aware that when you apply for a loan or any type of credit, the lenders will request copies of your credit report.  This will add points to your credit score and this inquiry stays on your report for about 3 years.

Nowadays almost everyone will check your credit report.  So if you're buying a car, do not allow the sales person to check your credit until you know this is what you want. 

Keep tabs on your credit report periodically and if you notice charges on your report that appear suspicious, contact the three credit bureaus immediately.

When you do have credit card bills or loans, try to pay them off in full.  If you don't have the money to pay the bill in full, make sure you pay as much as you can (at least the minimum on the bill to avoid bad credit reports). Also, if you have any debts that have not yet gone to collection, find a solution for getting those bills up to date before you get a bad mark on your credit.

If you do get into trouble with your credit, you might want to find someone that you trust who can help guide you through the process of repairing your credit. If you don't know someone personally, try finding a Debt Counselor that is qualified to assist you.

No matter whether you clear your debt yourself or use professional help, one good way to get started is with budgeting.

Come up with a budget that includes your monthly installments. Then make another budget that comes as close to your debts as you can. Finally make a budget that satisfies your demands for survival after you have cut back funds. Auto Credit Financial helping good people with bad credit for over 25 years.

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Written by Mark Hergert
Published on 01 September 2011 Hits: 5279

Your Credit Report Fact or Fantasy? ®

Fantasy Credit Report Your Credit Report (the Boring Part) Your online credit report is a collection of files and records pertaining to your credit history. It is often referenced for hiring, renting, mortgages, loans, background checks and many other situations which may require an involvement of a larger sum of your income or a need for your personal services.

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Your online credit report contains the good the bad and yes, the ugly, within its pages. There are 3 major credit report bureaus from which the information comes from: TransUnion, Equifax and Experian. For the most they are similar, but between the three bureaus there may be some different items listed. What If!? What if your online credit report was only full of positive, correct and up to date items? This would be like a fantasy credit report. You could use it like a tool for certain things like getting a low interest loan or the mortgage you actually wanted. You could use it as a weapon against those creditors who automatically assume that your credit sucks and turn the whole finance game around on them. This fantasy credit report would be like a report card with all A's (something most of us have never experienced right?). Imagine not having to worry about what the results are going to be when the phone rings from the bank because you have total peace of mind that your credit report is not only clean but also free of errors and mishaps. The anxiety of waiting for the results of your credit standing concerning a major purchase can cause equal or more mental tension than a doctor walking in the room with his results for a major medical test. Making the Fantasy a Reality Okay, so this whole fantasy credit report thing is exactly just that right? A fantasy. Well... not necessarily. See, you are the only one that can ultimately control what happens to your credit report. Yes, of course there are those 'unknown factors' - BUT, the good news is there is a big first step you can take to help start achieving your own personal fantasy credit report. You can obtain a free copy of your credit report and see what negative items are sitting on your file. More than 70% of all U.S. citizens with credit reports have false or out of date items on their credit file. By spotting these items early and taking the appropriate steps to remove them you can improve your credit rating. What else can you do? Develop a personalized budget. It will take a couple months of re-adjusting but will help you to see where your money is going and begin to mature your spending habits. Also, think about your major purchases before you make them. Too often in our society, consumers buy things without a second thought and "paint themselves into a corner" financially. When you take on more payments than you can afford you have set up your credit report for long term damage. Here is a saying to think about regarding this type of situation: "If your outgo exceeds your income, eventually your upkeep will become your downfall." Remember that the fantasy credit report is waiting to evolve before your very eyes - you just have to make it happen.

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Written by Mark Hergert
Published on 21 June 2011 Hits: 9611

Car Loan Repayment Help Center


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What happens if I cannot afford my payments?

You may have finally come to the realization that you can no longer afford your current car truck or SUV loan, leaving you in a situation that's very frustrating.  However, there are options available to you short of getting your auto repossessed and ruining your automotive credit.

At Auto Credit Financial USA we have plenty of resources available to assist and help you.  We can get you pre-approved for financing, we can try to get your current payment lowered and we can help you apply for an emergency repayment loan.  We can also help get you a new vehicle altogether.  Apply online with us and let us help you solve your automotive financing problem.

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Emergency Auto Loan Repayment Options

Buying and Selling a Car to Get Control of your Debt.

Auto Credit Financial can assist you with your repayment loan application. Please click here to apply to lower your car payment or get pre-approved for a new loan and get the new car that will assist you and your family in today's economy.



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What's My Payment?

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Auto loan amount ($):
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Interest rate (%):
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Credit Information Before You Buy


After years of delays, the credit industry finally agreed to give consumers access to their personal "credit scores." This is important, because lenders use credit scores to determine who to give credit to and at what rates. Knowing your credit score can be empowering,If it's low you can take steps to improve your credit worthiness and if it's high you may be able to use it as leverage when shopping for your next car loan.