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Most Recent News in Credit Report News

  • Bill Preventing the Credit Report From Being A Deciding Factor For Jobs

    by Faye Mergel
    Bill Preventing the Credit Report From Being A Deciding Factor For Jobs

    You wake up one day into the world of sorrow, listening to a string of words quoting you’re laid off. Soon you are pushed into reality, and you realize you are among the 4 million people who are waiting for a job for over six months to ease your financial crisis. What do you do? The bills due roll in faster than ever. Your payments for car, house payments and utilities, your medical expenses crash on you when you’re most … (more) April 3, 2010

  • FTC Amends Rules to Provide Easy Access to Free Credit Reports

    by Faye Mergel
    FTC Amends Rules to Provide Easy Access to Free Credit Reports

    Federal Trade Commission of the United States of America announced on April 1, 2010 in its press release that it would be implementing a new rule effective from April 2, 2010. The amended rule would assist consumers in avoiding the existing confusion about various advertisements on ‘free credit reports’. These ads usually require the consumers to purchase credit monitoring and other credit-related services from the advertisers at a substantial cost. Very few people are aware that the credit reports are … (more) April 1, 2010

  • Financial Mistakes Of The Past Haunting Present Job Hunters

    by Faye Mergel
    Financial Mistakes Of The Past Haunting Present Job Hunters

    One major damage that the economic downturn did was to bring down the credit scores of many Americans. Credit scores have virtually become the universally accepted financial scoring method for consumers. It is used by lenders and other financial institutions in determining whether a loan or credit applicant gets approved or not. This is just one of the many complications that American consumers are facing due to their credit scores dropping. Another complication caused by low credit scores which is … (more) March 22, 2010

  • Bad Credit Reports Ruining Employment Opportunities

    by Faye Mergel
    Bad Credit Reports Ruining Employment Opportunities

    It seems that Americans having a hard time landing a good job may have more trouble coming. According to some experts, a lot of employers are now looking at the credit reports of their applicants to decide whether they are going to accept them or not. The economic crisis put a lot of burden on many American consumers. Thousands of American consumers found themselves in a bad way financially due to the effects of the economic downturn. The problem was … (more) March 17, 2010

  • Getting Back Up After A Bankruptcy

    by Faye Mergel
    Getting Back Up After A Bankruptcy

    Considering how bad the economy has been during the past couple of years, it is not surprising that a lot of American consumers saw their finances literally evaporate in a span of just a few months. A lot of consumers have had to get loans and rely on their credit cards just to get by. The worst of the lot have had to file for bankruptcy. Filing for a bankruptcy is the absolute last resort for consumers having financial problems. … (more) March 15, 2010

  • FTC Forces Free Credit Report Web Sites To Honesty

    by Faye Mergel
    FTC Forces Free Credit Report Web Sites To Honesty

    Getting updated credit reports is becoming the rage nowadays and it is easy to see way. Consumers were rocked hard when the economic crisis hit. The meteoric rise of the nationwide unemployment rate made things even worse. Now that the economy is showing signs of recovery, consumers are being vary careful of not falling into the same disaster that they faced when the economy tanked which is why a lot of them are keeping a close eye on their credit … (more) March 12, 2010

  • FTC To Roll Out Consumer Protection Measures From Misleading “Free” Credit Report Offers

    by Faye Mergel
    FTC To Roll Out Consumer Protection Measures From Misleading “Free” Credit Report Offers

    Regular credit report checking is becoming a trend among consumers these days. Quite understandable considering the state of the economy at the moment and the high number of people who are having employment problems. Ever since credit reports became popular among consumers, a lot of offers for “free” credit reports have been going around. This has been especially prevalent online, though it is hardly limited to that medium only. Consumers who go online looking for ways to get free access … (more) March 10, 2010

  • Co-signing Credit Card Applications May Not Be A Good Move For Parents

    by Faye Mergel
    Co-signing Credit Card Applications May Not Be A Good Move For Parents

    It seems that parenting just gained a new headache. Come February 22, the credit industry is going to change considerably as this new credit card legislation finally activates. After months of waiting, consumers will finally see the new credit legislation of the government in action. One of the major issues that this new credit legislation, dubbed the Credit CARD Act of 2009, tackles is the problem of student credit card debt. Student card debt has been on the rise in … (more) March 8, 2010

  • Credit Reports Get Better With Responsible Payments Says III

    by Faye Mergel
    Credit Reports Get Better With Responsible Payments Says III

    The activation of the bulk of the Credit CARD Act has a lot of people worried – with good reason. Although this new legislation is meant to protect consumers from abuses in the credit card industry, it does not necessarily make credit cards that much more safer for them. In fact, since the legislation’s activation actually introduces new traps for consumers, it can be argued that the legislation is making things much more riskier for credit card holders. The biggest … (more) March 6, 2010

  • Broker Fined $35,000 for Dumping 230 Credit Reports

    by Faye Mergel
    Broker Fined $35,000 for Dumping 230 Credit Reports

    A Las Vegas mortgage broker was fined $35,000 for improperly disposing at least 230 credit reports and other sensitive documents. The civil penalty will serve as a settlement to the FTC charges against the broker for failing to comply with the Commission’s Disposal Rule. The Federal Trade Commission (FTC) charged, Gregory Navone, of Las Vegas, NV., for dumping copies of 230 credit reports, driver’s licenses, mortgage applications, tax returns, credit cards, and bank statements in a dumpster that can easily … (more) March 5, 2010

  • Why You Should Learn to Read Your Credit Report

    by Faye Mergel
    Why You Should Learn to Read Your Credit Report

    A common mistake amongst a lot of credit cardholders is that they do not really take time to learn how to read credit reports. Back in the day, this would be understandable because credit reports were quite difficult to read. Today, however, credit reports are much easier to handle. Moreover, cases of identity theft have been increasing not just in America, but all over the world. Thus, there really is no reason cardholders should not take initiative in learning how … (more) March 3, 2010

  • Fed Takes Steps Against Shady Web Sites Offering “Free” Credit Reports

    by Faye Mergel
    Fed Takes Steps Against Shady Web Sites Offering “Free” Credit Reports

    Owing to the delicate situation of the economy, consumers are keeping a close eye on their finances and making sure that they will not be getting any surprises in their credit standings. The increased consciousness among consumers regarding their credit standing has led to an increase in consumers taking the time and effort to check out their credit reports. Checking out their credit reports is perhaps one of the healthiest things that consumers can do regarding their financial standing. In … (more) March 1, 2010

  • Juggling With Debt To Rebuild A Damaged Credit Score

    by Faye Mergel
    Juggling With Debt To Rebuild A Damaged Credit Score

    A high number of consumers are dealing with bad credit scores right now. A lot of them got surprised by the economic crisis and overextended their credit. A few were irresponsible borrowers to begin with. Some may have had to take out loans and lean on their credit cards due to some emergency such as serious health problems. Whatever the case, consumers with bad credit scores need to rebuild their credit as quick as they can considering the importance of … (more) February 25, 2010

  • Safer Credit Report Checks Through The FTC

    by Faye Mergel
    Safer Credit Report Checks Through The FTC

    The economic climate right now has really forced consumers to be very critical of their finances. Failing to keep an eye on their finances in this economic downturn could be disastrous for consumers. Now more than ever, it is very important for consumers to check their credit reports. The need for constant credit report monitoring is not going unnoticed among the more entrepreneurial in the credit industry. A lot of consumers are getting offers, especially online, for credit report checking … (more) February 23, 2010

  • Easier Fraud Detection When Consumers Monitor Their Credit Reports

    by Faye Mergel
    Easier Fraud Detection When Consumers Monitor Their Credit Reports

    One of the biggest concerns among consumers today is identity fraud. It was bad enough a few years ago and now, with the current economic scenario, cases of identity fraud have gone up considerably. According to a research done by Javelin Strategies, there was a one in twenty chance of a consumer being a victim of identity fraud in 2009, an increase of 11% compared to the previous year. The risk exposure among consumers differentiate considerably depending on the consumer. … (more) February 20, 2010