Do You Know How Long Does It Take To Improve Your Credit Score?

By | January 17, 2016

By Tim H Lambert

In this dynamic world, we often want things in a fast way. When we eat foods, we usually go for fast food chains. When we want to send mail, we do it electronically thanks to the Internet. When we want a new home or car, instead of saving money for a long period of time we go for applying in home or auto loans. When we want to buy new items for personal use, we do not wait for our payday we swipe our credit card to buy it. That is how our world today.

However, to be approved in your applied loan doesn’t come easily. Lenders will study the application as well as your credit history. We all know that credit score which is directly affected by credit report is the basis for your approval in your loan application. So, how long does it take to improve your credit score? The answer to that question is solely dependent to the person. Improvement of your credit score occurs as fast as 24 hours, days, weeks or months. Boosting your credit score is a do it yourself technique. Meaning, you must be determined to do it as well as you put time and effort to achieve your goal of increased credit score. Remember that the improvement of your credit score is a continuous process, once you started to create a good image, you must maintain or improve it. Before taking necessary steps to improve credit score, you should consider the small details behind credit score improvement.

* Your creditor will only look to the past one and a half year of your credit history not the typical seven years. Thus, if you have awful credit history in the past, you may still get the chance to be qualified for a credit. People who declare bankruptcy more than 18 months old can apply for loan and normally can get it.

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* The surest way to improve credit score is by paying all unpaid collections and 30 plus days late bills. If you cannot fulfill this, you may be deducted with 30 or more points. After paying the unpaid collections and bills, you should ask if they will delete the record or not. Deleting the record will remove it from your credit report hence improving your credit report leading to credit score improvement. If they do not delete the record, make sure that a mark ‘collection paid’ is written in your credit report.

* Always remember that disputing any erroneous information in your credit report is your legal rights. Disputing is based on the Fair Credit Reporting Act and you can do it in any inaccurate items. For most creditors, if you are disputing vigorously, you are applying for a secured debt like a home or car loan and they will not get in your way. So, persistent disputing of every inaccurate item is one of the most powerful techniques and it can you determine how long does it take to improve your credit score.

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South African prosecutors charge ANC leader Jacob Zuma with corruption

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Saturday, December 29, 2007 


Corruption-related charges have been brought against Jacob Zuma, the newly-elected leader of the African National Congress (ANC), according to his lawyer. A trial is scheduled to begin on August 14, 2008.

The charges stem from an arms deal with a French company, which is alleged to have involved bribes and fraud. Zuma’s financial adviser at the time, Schabir Shaik, was convicted in 2005 of attempting to solicit a bribe of US$72,500 per year from the arms company on Zuma’s behalf and was sentenced to 15 years in prison. Zuma was fired as deputy president in 2005 by South African President Thabo Mbeki due to the scandal.

Two-term ANC leader Mbeki recently lost an ANC leadership contest to Jacob Zuma, who garnered about 60 percent of delegate votes in his win.

Zuma had been charged with corruption in 2005, but the case was dismissed on procedural grounds. Michael Hulley, Zuma’s defence lawyer, indicated that they will strongly contest the new charges in court. Hulley also suggested that the South African government’s National Prosecuting Authority (NPA) and its anti-organised crime division known as The Scorpions, have carried out a smear campaign against Zuma.

“These charges will be vigorously defended, in the context of the belief that the Scorpions (NPA) have acted wrongly and with improper motive calculated to discredit Mr. Zuma and ensure that he play no leadership role in the political future of our country,” said Michael Hulley in a statement.

Given that the ANC has been the governing party in South Africa since the end of apartheid in 1994, it is likely that Jacob Zuma could become the next president after general elections in 2009. Zuma has said, however, that he would resign if he was found guilty by the courts.

Commonwealth Bank of Australia CEO apologies for financial planning scandal

By | January 16, 2016

Thursday, July 3, 2014 

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.