Denver, Colorado based Mortgage Broker Karen Schimpf reveals insider secrets of what your legal rights are when dealing with debt collectors. The site is designed to give Colorado residents all the facts about their credit rights so they can make an educated decision when obtaining financing.

Denver, CO -- (ReleaseWire) -- 03/13/2009 -- There are times in our lives when circumstances may prevent us from paying our bills. Divorce, loss of job, medical bills or even the loss of a loved one can start a chain reaction that is difficult to stop. Bills mount, debts go unpaid and you get further and further behind. You owe money, but you just can't pay. And then the phone calls start. Debt collectors are hired to recover money that creditors have lost and they use endless phone calls and/or threatening letters to contact you.

There are ways to deal with collection agencies, and if you want the incessant phone calls to stop, you need to know them. It can be quite taxing to deal with the problems associated with debt collectors, but if you remain calm and follow these guidelines, the stress can be reduced:

1) When speaking to collection agencies, make sure you know your legal rights.

•One of your rights is that your privacy must be respected and you should be dealt with fairly. Request that they not contact you at inconvenient times, such as when you are at work.

•The debt collectors should treat you respectfully; they must not abuse or threaten you, publish your name, or speak to you in an obscene manner.

•They should not do the following when collecting your payments: imply falsely that you have committed a crime, that they are attorneys or representatives of the government or that they work for a credit bureau.

•When collecting payments for your debts, the agency should not engage in unfair practices.

2) Keep very detailed records. When speaking with a representative of a collection agency, make sure you write down their information.

•You should ask for the following: the caller's name, his/her agency's name, the agency's address and fax number as well and the lender's name and the amount of money they say you owe.

•Keep a record of who you spoke with, their title, and a brief summary of your conversation. Unless you inform your caller, you are not allowed to tape the conversations you have. When conducting physical communications, make sure that you retain all copies sent or received.

•Write everything down. You'll need to draw up a letter to send to the collection agency if you wish to dispute a debt or of you simply want to request that they stop calling you. Make sure any additional requests you make are also documented in writing.

3) If you owe any debts, pay them off. There is no other way that would be more effective for handling collection agencies. Once you have cleaned up your account, you should not hear from the collection agent again. If you are currently unable to meet your financial obligations, contact the agency to which you are in debt and explain the reason for your hardship.

4) Ask the agency if they will refrain from adding any more negative marks on your credit report if you make new payment arrangements. You can do so by making sure that the agency has reported all of your payments to the credit bureaus, and if not, keep reminding them until they do so. You have the right to request that the creditor give you any terms for payment in writing.

While facing debt can be extremely scary, it must be done, especially for those with large amounts of debt. Having the knowledge about your rights can be your best weapon. It's not difficult to deal with collection agencies as long as you are aware of all of your rights. You and your family can stay sheltered from unnecessary harassment's if you stay informed.

Karen Schimpf, Mortgage Quest, Powered by Universal Lending Corporation, specializes in helping release her clients from the "credit prison" that too many people find themselves in. When you or one of your friends finds yourself needing real answers and real solutions to credit issues, you can confidentially contact her at (303)400-8630, email her at karen@ColoradoMortgageTips.com or visit

http://www.creditrepairtruth.info/creditpr

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Denver, Colorado Based Mortgage Lender Karen Schimpf reveals mortgage secrets at a new web site that is full of free reports, a home buying guide and free mortgage calculators. The site is designed to give consumers all the facts so they can make an educated decision when obtaining a mortgage.

Denver, CO -- (ReleaseWire) -- 02/17/2009 -- Denver Colorado based Mortgage Expert finally reveals the secrets at a brand new website

http://www.coloradomortgagetips.com

This site is loaded with FREE REPORTS, an informative home buying guide, mortgage calculators consumers can use to run various loan scenarios and home buying resources you can use to save time and money before and after you purchase your home.

If you're planning to buy your next home, your first home, that dream home, a condo, vacation home, investment property or looking to refinance in Colorado or the surrounding areas, you will find that this site is a complete resource full of insider secrets that will allow you to choose the loan program best suited to your financial needs.

Here is just a small sample of the secrets revealed on this site...

*Little Known Secrets That Will Show You How To Improve Your Credit Score

*Important Terms You Must Know BEFORE Obtaining A Mortgage

*Tested and Proven Strategies For Building A Better Credit Record Faster and Easier

*The Top Mortgage Questions Borrowers Must Ask Before Applying For A Mortgage

*How To Finally Stop Renting And Own A Home Of Your Own

*How To Own A Home With Low Interest Rates And A Low Down Payment, Regardless Of Your Credit

*7 Things You Should NOT Do When Applying For A Home Loan

*12 Secrets To Lowering Your Homeowners Insurance Cost Your Agent Doesn't Want You To Know

Denver, Colorado - based mortgage expert Karen Schimpf specializes in providing information to consumers that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Karen Schimpf is available for interviews and will welcome all your mortgage related questions.

Call 303-400-8630 for a Free No-Obligation Consultation or visit

http://www.coloradomortgagetips.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Colorado Based Mortgage Broker Reveals 10 Facts You Must Know To Avoid Getting Ripped Off When Dealing with Collection Agencies.

Denver, CO -- (ReleaseWire) -- 02/13/2009 -- Colorado Based Mortgage Broker Reveals 10 Facts You Must Know To Avoid Getting Ripped Off When Dealing with Collection Agencies.

As difficult as it may be to stay cool and collected when debt collectors hound you, knowing what to expect when dealing with these agencies will help you formulate a plan and lessen the chance of being taken advantage of.

Ten Rules for Handling Collection Agencies

1.Realize that Credit collection agents are usually working on commissions. This is a JOB to them and the more they get you to pay, the larger their paycheck. They will be persistent, so be prepared.
2.Don't argue with the agent, because you will lose. This is what the do all day, every day and they have heard every excuse in the book. They are prepared with an answer to everything. State your case but don't argue.
3.It usually doesn't help to ask to speak to someone's boss. In this case, talking to the supervisor normally won't help (in fact it could be worse). Remember, he ended up with his job because he was good at what he did and was able to squeeze every dime out of past consumers who had disputes.
4.Never give information out over the telephone to a collection agency. This includes your driver's license number, social security number, debit card numbers, check numbers, credit card numbers, or bank account numbers. They should already have this information.
5.Use a money order or certified funds to make all payments. Make a copy of it and staple it to the bill.
6.Keep records of everything (including dates of phone calls and what was said), and make sure that anything sent through the mail has a return receipt.
7.Make sure you get written confirmation of any deals or negotiated payoffs. Make sure you have something that says the collection has been satisfied.
8.Never take their first offer when negotiating a lower payment as they will always call back with a better offer.
9.Use powerful sentences like, "This is all I can afford to pay," rather than "this is all I am going to pay." This is a much better negotiation tactic when you are trying to lower the payoff with the collection agent.
10.When repairing your credit, it is a good rule to keep copies of all your credit reports. That way you can track the process of what has been repaired and make sure that what you negotiated is coming to pass.

While it would be impossible to include everything there is to know about dealing with collection agents, these 10 tips will almost always result in more money in your pocket and less in theirs.

Karen Schimpf specializing in helping release her clients from the "credit prison" that too many people find themselves in. When you or one of your friends find yourself needing real answers and real solutions to credit issues, you can confidentially contact her at 303-400-8630 or visit:

http://coloradomortgagetips.com/creditrepair

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Denver, Colorado based Mortgage Broker Karen Schimpf reveals mortgage refinancing secrets at a new web site that is full of free reports, a home buying guide and free mortgage calculators. The site is designed to give Colorado residents all the facts about mortgage refinancing so they can make an educated decision when obtaining a mortgage.

Denver, CO -- (ReleaseWire) -- 11/14/2008 -- It seems like alot of Colorado residents are finding themselves in credit prison so many are asking the question, is Credit Repair an Ethical Solution To A Big Problem?

Many wonder if it's unethical to attempt to remove valid bad credit issues from a credit report. I say, "Yes, it is," and here's why.

The credit reporting and ranking system has been and continues to be unfair to American consumers. We are forced to participate in something we did not volunteer for and are punished for mistakes whether they are ours or not. We cannot opt out of this system and no consideration is made for circumstances that are beyond our control. However, "credit repair" is a term that has gained a negative reputation, and has been connected with credit fraud and credit schemes. As a result, I'm often put in the position of having to defend my efforts to help others repair their credit.

Problems contained in a credit report can lead to feelings of being in credit prison; however, there are solutions. A credit report should not be viewed as proof of bad credit, but rather simply an allegation. Unfortunately, consumers rarely challenge the allegations. When my clients sign on to use our preferred attorney network for their defense, they are basically saying "prove it" to the credit bureaus and entering a plea of not guilty.

Putting the credit bureaus in the position of having to prove their allegations is one of the functions of our preferred attorneys. If the bureaus say they have already looked into and confirmed the charge then our attorneys will appeal the decision. It is eventually discovered that most credit report allegations are falsely based, and at that point the negative items are removed.

Our society has its roots in capitalism and the credit bureaus feed on this and use consumer information to their advantage. The bureaus are not motivated by the terrible consequences bad credit can have on a consumer. Profit margins - not consumer rights - are what motivate them.

Our legal system takes an oath to truth, equity and the common good; credit bureaus do not take this oath. Why should any citizen be obliged to support any company, let alone massive public corporations, when doing so could ruin his credit and financial standing? The credit bureaus would cling to every bit of credit data, true or false, forever if federal law didn't force them to delete many items after seven years time. Lucky for us, the government forces the bureaus to correct your credit at the end of seven years. If an item HAS to be removed after seven years, what would be wrong with removing it sooner?

My contention is you cannot always judge someone's credit worthiness by their credit history. It hurts and affects everyone when good people are pegged as deadbeats. The policies of the credit bureaus have been so grossly unfair to the consumer and that is why I feel it is fair to oppose the current system of credit reporting. It is just totally unfair to punish the consumer with seven years credit bondage (10 years for bankruptcy and some court decisions). Especially when there have never been any studies that say seven years is magic number for the time it takes to restore good credit. This seven-year mark is completely random.

"It is our understanding that computer models that predict credit information find that most information that is more than 2 year sold is nonessential," says Dr.Bonnie Gution, consumer affairs advisor to President Bush. I totally agree. Many of my clients feel that seven years is way too long. Most consumers are able to recover fully from a financial crisis within 2 to 3 years. Despite this, for the next 4 to 5 years they are often forced to live a reduced life-style, rent homes and pay high interest on other loans while being denied credit based on bad reports.

Although credit bureaus claim an error rate of less than 1%, that isn't necessarily true. Studies performed by independent agencies show that mistakes occur at a rate nearing 79% One credit bureau admits to an error rate of more than 50%, but they still choose to err on the negative side than the positive.

Credit reporting systems are commonly used in other countries. However, unlike America, most countries doll out credit based on a consumer's current credit status. For example, in England, Equifax and Experian are not allowed to keep credit information for more than five years. The point to all of this is this - the American credit reporting system needs changing. With this in mind, realize that it's not unpatriotic to want to ensure your credit report is accurate. And it is NOT unethical either.

When people can't buy things because of a poor credit report, our country's financial system suffers. That's why I offer to help my clients recover from this devastating hardship. My clients are excited to fix their credit and to return to the credit economy and be fiscally trustworthy. My goal is to help my clients escape from people who prey on people with bad credit.

Bad credit costs a person thousands and thousands of dollars and forces many into a vicious cycle that is very difficult to escape. They are forced to rent (where they pay someone else's mortgage), to buy items at a higher interest rate (cars, credit cards) or to take unfulfilling jobs. Sadly, even one negative item on your report can have far more impact than a lifetime of good credit.

In short, because of poor data collection, reporting and validation, many people suffer unnecessarily from the ill effects of a bad credit report. So to answer the question posed at the beginning of this article, yes, it is ethically sound to remove the record of a negative credit item from your credit report.
Karen Schimpf, Powered by Universal Lending, is a nationally recognized expert specializing in helping release her clients from the "credit prison" that too many people find themselves in. When you or one of your friends find yourself needing real answers and real solutions to credit issues, you can confidentially contact her at 303-400-8630 or visit:

http://coloradomortgagetips.com/creditrepair

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Denver, Colorado based Mortgage Broker Karen Schimpf reveals mortgage secrets at a new web site that is full of free reports, a home buying guide and free mortgage calculators. The site is designed to give the self-employed and other Colorado residents all the facts so they can make an educated decision when obtaining a mortgage.

Denver, CO -- (ReleaseWire) -- 11/13/2008 -- Second homes aren't just for the rich and famous anymore. More and more middle-class Colorado residents are finding that buying their dream vacation homes is easier than they thought.

"This is one of the best times in the last five years to go ahead and invest in a second home," says Karen Schimpf, a Denver, Colorado based mortgage consultant. "They're becoming much more attainable now, thanks to low interest rates and a variety of other factors than benefit buyers."

In fact, Karen Schimpf is seeing this trend first hand in his own business and now works with investors who are looking to earn rental income, as well as those who simply want a gathering place for family vacations or weekend getaways, practically every day.

If you've been thinking about investing in a second home, here are some things to remember:

* The IRS has rules that can affect whether or not the interest on a mortgage for a second home is tax deductible. A financial advisor can explain these details to you. You don't want to get hit with an unexpected tax bill simply because you didn't know the rules.

* Consider the rental market. If you won't be visiting the vacation home more than a few times a year, you might want to consider renting the property during times when you won't be using it. This can help offset the cost of the new mortgage.

* Shop for the best rates. You wouldn't make any other major purchase without first shopping around, so there's no reason why you shouldn't do the same thing when looking at your financing options for your vacation home. This is also where a trained mortgage broker can help. Mortgage brokers have access to dozens of lenders and mortgage products many people don't even know exist, and can be a great choice for people who want expert advice on making the right financing choices.

Denver, Colorado - based mortgage expert Karen Schimpf specializes in providing information to Colorado residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan – even second home and vacation home loans.

Karen Schimpf is available for interviews and will welcome all your mortgage related questions.

Call 303-400-8630 for a Free No-Obligation Consultation or visit

http://coloradomortgagetips.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Denver, Colorado based Mortgage Broker Karen Schimpf reveals 3 things you should watch out for when shopping for home-finance products on the Internet.

Denver, CO -- (ReleaseWire) -- 11/07/2008 -- Denver, Colorado Based Mortgage Broker Reveals 3 Things Lenders Don't Want You to Know About Shopping for a Mortgage Online

Anyone who's even remotely interested in shopping for a home loan has probably paid attention to all those commercials on TV touting the ease of using any of a variety of Internet services to compare mortgage offers from the comfort of your home. You may even have tried a couple of them yourself. But Karen Schimpf, a Loan Officer with Universal Lending Corporation, says Denver, Colorado residents need to watch out when trying to use the Internet to do the heavy lifting for them.

"Sometimes, these Internet services might work fairly well for certain people." "But the one-size-fits-all approach they offer is going to leave a lot of people with loans that aren't the best for them, or even worse, they may be shut out of the process altogether."

Karen Schimpf says the problem with these services is that they never really get to know anything about your financial situation other than your credit history and income level. "So basically what winds up happening is that you're reduced to a number to them. And if they don't like whatever that number is, you're out of luck."

Here are three things you should watch out for when shopping for home-finance products on the Internet – things most online mortgage sites hope you ignore:

*Do they take the time to find out about your unique situation, or are you just a cyber-borrower in their eyes? Most of these sites simply don't have the manpower to individually work with every borrower. So a lot of times you wind up with a bad loan simply because there was no one to check if they could have gotten you a better deal.

*What do they offer people in special financial circumstances – such as the self-employed or people with damaged credit? Most of these sites don't even want to work with you unless you meet their stringent criteria.

*Do they provide advice to help when choosing between loan products? Most sites simply gather offers, throw them in your lap, and pressure you to choose between them. Unless you're a pretty experienced mortgage pro, deciding on the best offer can be difficult, if not impossible.

So, what's the solution? Use the Internet to educate yourself and then work with a real human being. You may not have thought about "old-fashioned" methods of finding the best deal, such as working with a mortgage broker. "But for anyone who values a real person sitting down with you and working through the process, there's no better option," says Schimpf.

Denver, Colorado - based mortgage expert Karen Schimpf specializes in providing information to Colorado residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Karen Schimpf is available for interviews and will welcome all your mortgage related questions.

Call 303-400-8630 for a Free No-Obligation Consultation or visit:

http://coloradomortgagetips.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm