Most Recent News in Credit Report News

• Protecting the Country While Protecting Your Name

  by Faye Mergel
  

  Identity theft has been a problem of the county for a long time and has already affected over 11 million American citizens throughout the years. Identity theft is a crime wherein the criminal would use ones credit line or “identity” to pay for the items he or she purchased or for the services he or she acquired. In the United States, soldiers are the most susceptible people who have their identities stolen by these criminals. Soldiers who are destined overseas, … (more) August 29, 2010

• Students Face Financial Charges At 18

  by Faye Mergel
  

  A recent study conducted by one of the country’s largest loaning company for students, Sallie Mae, they found out that college student use about 4 credit cards to pay for whatever that is that they purchase. In study, it showed that a lot of college students are now facing financial charges since they could not afford to pay their monthly financial burden on time. According to the study, the median amount of students’ debts has increased in about 3 percent … (more) August 27, 2010

• Threatened Woman Sues Debt Collecting Company

  by Faye Mergel
  

  Philadelphia – threat has become one of the primary secret weapons of collecting agencies to force their customers to pay up their debts. A lot has already been harassed by these debt collectors and their threats have made the borrowers mouth quiet. However, a local woman, who has been threatened by a lending company, is ready to shut the company down. The woman, Seena Rosenberry, has been bugged by a lending company for weeks. She says she was very nervous … (more) August 25, 2010

• Equifax Lost Case for Misleading Consumer Disputes

  by Faye Mergel
  

  New York – Equifax Information Service LLC has recently faced a law suit for failure to investigate and provide their side valid reasons in disputes on top of the correctness of their public files. The consumers who filed the case against one of the country’s largest credit reporting agency have won the law suit. In the judge’s ruling, by Judge Joseph H. Rodriguez, he said that the claimant, Bruce A. Summerfield, was enough to represent the consumers who have supported … (more) August 23, 2010

• Students Should Start Building Good Credit History

  by Faye Mergel
  

  Students have a lot of necessities for their studies and school life. Books, tuition fees and dorm fees do not usually fit all in their part-time job salaries. Parents can’t at all easily provide the money for these expenses at once. The answer for covering all these expenses is credit all along. Students, whether under a personal or authorized user credit card, have their own credit history. Like with how teens handle auto insurance, not all adults consider young people … (more) August 21, 2010

• Negative Items Appear In Credit Reports for Seven Years

  by Faye Mergel
  

  One question that has been on-going for years is how long do negative items appear on credit reports. Many consumers fear that the negative items might affect them for years and that they delay the consumers’ plans to apply for credit or buy for a new car. Lawsuit or judgment stays on a report for seven years or until the statute of limitations are up. Information on bankruptcy stays for seven but could extend to ten years. Tax liens likewise … (more) August 19, 2010

• Consumer Rights over Credit Report Disputes Revealed

  by Faye Mergel
  

  Consumers may find their loan or insurance applications denied for being a risk borrower or client. Lenders or brokers may tell them that this is because the consumers aren’t worthy of the service because of their bad credit history. Consumers who believed they have a good credit score and credit proper behavior might remain at awe. Fair and Accurate Credit Transactions Act of 2003 or FACT Act aims to enhance the usage of credit information and provide consumers greater access … (more) August 17, 2010

• Credit Report Check Now a Necessity

  by Faye Mergel
  

  The Fair & Accurate Credit Trans Act (FACTA) is a law that allows every American consumer to obtain a free credit report every twelve months. Many consumers are well aware of this, but many aren’t. The government, economists and even financial institutions advise consumers now and then of the importance of this annual check. Purposes of the check are to provide timely error correction and improvement of accuracy check on the reports. FACTA outlines the permitted reasons for using the … (more) August 15, 2010

• Legislation Puts Limit On The Use Of Credit Reports For Hiring Decisions

  by Faye Mergel
  

  Credit reports of a potential employee can be checked only if permitted to do so, says a recent legislation that is being passed to about twenty states in the United States. The legislation limits the ability of employers to check the credit history reports of their potential employees only after obtaining permission. Many employers state that the reports can tell a big picture about their future employees. The reports will tell them if the candidates are capable of embezzling funds … (more) August 13, 2010

• Access Credit Reports Online for Free

  by Faye Mergel
  

  There have been innumerable cases in the past where Americans have faced problems with their credit scores. A sudden drop in their credit scores leads them into trouble and takes a long time to repair too. While many times this is due to the individuals unable to handle their finances the right way, the problem is also seen when there are errors in their credit history. To avoid situations where the credit scores suffer due to erroneous entries, it is … (more) August 11, 2010

• Hotel Customers Warned Of Hackers

  by Faye Mergel
  

  People who travel a lot and therefore make substantial use of hotels are warned of new methods hackers and thieves have recently been employing. It has been called to the attention of some that most thieves swarm at hotels and from there pinpoint or target their next victim. A report from Trustwave, a company on data security, revealed that this year, more than 35 percent of credit card hackings happened in hotels, or implicated the hotel industry. The reason why … (more) August 9, 2010

• Errors to watch out on a Credit report

  by Faye Mergel
  

  Consumers should be aware of mistakes in their credit Report. This was pointed out by Linda Sherry, National priorities Director of Consumer Action. Beware! Once somebody you do not know calls to inquire on someone’s debts, your address, correct spelling of your name or any information about you, this could enter on your Credit Report. Unsolicited incoming calls are usually the start of alterations in your Credit Report. This, after many victims complained of overdue debts, rented apartment which they … (more) August 7, 2010

• Credit Report Bad News

  by Faye Mergel
  

  No one knows what goes on the minds of lenders and credit card report viewers when they look through the data in the credit reports. Credit card holders maybe biting their nails as their future lenders are skimming through the details. Others would ignore the situation thinking that they have been doing good credit management and there’s nothing to be afraid of. Well, certainly, there is something to be afraid of. Credit reports viewer has their own agenda and criteria … (more) August 5, 2010

• Garbage seen to threaten Credit Report

  by Faye Mergel
  

  The many victims of Credit Report fraud clarified that waste which is most of the time taken for granted posts danger to one’s Credit Report. They claimed that this is mostly in the form of Identity Theft but other forms of fraud are possible too. The traditional method, dumpster diving which means going through one’s garbage is seen as the access thieves use to go through your personal information in your Credit Report. They are not actually interested with the … (more) August 3, 2010

• Greatest Damage on Credit report Disclosed

  by Faye Mergel
  

  Phony Identity has been identified to greatly affect an individual’s Credit report. With this, alert has been raised against impostors using other people’s Credit report following an enormous increase in Identity Theft cases in the U.S. Statistic reveals that cases of Identity Theft from all over the country rose to 10 million in 2008 alone compared to thousands in the previous years and still expected to rise in the future as projected. They said that victims include individuals of all … (more) August 1, 2010