Most Recent News in Credit Report News

• Bad Credit Solutions Not an Escape

  by Faye Mergel
  

  Debt problem is rampant these days that not in the US but anywhere in the world. This is not just about credit card usage although it is one of the most common culprits. This can be because of health issues, recession, marital problems, mortgage and chattel mortgage problem and others. It is really hard to deal with bad debt according to an expert in money and credits. Not being familiar with the solution to solve debts would mean spending continuously … (more) November 2, 2011

• Watch out for free credit reports and credit scores – they aren’t really free

  by Faye Mergel
  

  Although there are a number of websites that advertise that you can check your credit report or get your credit scores for free, you must watch out. There is a catch here and even though they mention the word ‘free’ these reports actually cost money. You may take a look at some of these websites to see what they actually charge. Prior to checking anything you must know the basic difference between credit scores and credit reports. A credit report … (more) October 8, 2011

• Credit bureaus could see stringent rules very soon

  by Faye Mergel
  

  Errors in credit reports and credit scores could be a thing of the past very soon, as borrowers may be equipped with more teeth to fight against erroneous reports. This may include noticing discrepancies such as a difference in credit scores that are obtained by consumers when compared to the data that is given to the lenders, only because the data was obtained through another agency or service provider. Despite the fact that we live in a new era altogether, … (more) October 6, 2011

• Credit reports and their impact on credit scores

  by Faye Mergel
  

  Everyone knows the importance of their credit reports but people tend to only focus on the credit scores and don’t realize the impact that the credit reports can have. In some instances, it may be difficult to separate out the credit score from the credit report. But, these are two major sources of information for banks and lending agencies and it is used to determine the creditworthiness of a person. Hence, it is important to understand the difference between the … (more) August 25, 2011

• Length of the credit history and FICO credit scores

  by Faye Mergel
  

  Credit history is very important to earn a credit score and borrowers should have a credit history to earn a FICO score. Though, the credit history is not the only important factor while calculating the FICO score the length of the credit history does have some significance. Experience and age is also another factor that is useful. The FICO score gets better over a certain period of time and the longer the credit history, the better is the FICO score, … (more) August 16, 2011

• Unfair credit reporting, mortgages, and debt consolidation

  by Faye Mergel
  

  Credit reports contain the entire credit history of an individual. But unfair credit reporting is something that is likely to get you into trouble in the future. For instance, if you want to purchase a new car in 2017, and you apply for mortgage, you may hit some roadblocks due to something that is mentioned on your credit report. This may be the case even when you apply for a new job. Debt consolidations that you may have carried out … (more) August 10, 2011

• Business credit report released by equifax to help better risk management

  by Faye Mergel
  

  Running a successful business is not easy and involves a lot of financial planning and management. Hence, it is important to know the financial history of the company with whom you conduct your business. It is the most important aspect of risk management. There is absolutely no reason to blindly get into a business relationship without knowing their financial background, and especially when all this information is readily available. Equifax has just released the Business Credit Report last month. This … (more) August 3, 2011

• The negative impact of credit reports eliminating medical debt from the list

  by Faye Mergel
  

  US Representative Heath Shuler had earlier this month introduced the Medical Debt Responsibility Act of 2011. As per the requirements of the bill, credit bureaus such as Experian, Equifax, and TransUnion had to remove settled or paid medical collection item up to $2,500 for every collection, out of the credit reports. When unpaid medical bills are turned over to collection agencies, then they may seem like a medical collection item, while being reported to credit reporting agencies. This may be … (more) July 31, 2011

• The positive aspects of removing medical debt from the credit report

  by Faye Mergel
  

  A couple visited a cardiologist last year just to get a routine stress test done. The gentleman’s father had died of a heart attack at a very young age and the couple didn’t want to take chances. They contacted their insurance company and were told that the expenses would be covered by the insurance company as long as the stress test was carried out as a preventive measure. After a lapse of three months, the insurer had still not settled … (more) July 26, 2011

• Payday loans and their impact on your credit rating

  by Faye Mergel
  

  It might shock you to know that even your payday loans can have an impact on your credit rating even though the provider does not conduct a credit check. Just as it is the case with the other providers, even the payday loan providers will have to report details of who gets the finance and this has a rebound effect on the credit rating. But you will surely want to know if this is a negative thing? For one, … (more) July 24, 2011

• Reliability of credit reports examined in new study

  by Faye Mergel
  

  Credit plays a very important role in our lives and it has a huge impact on the US economy. Regulators, consumers, lenders are some of the entities who have a vested interest and wish to have a better understanding of the data that is provided by the credit bureaus. There are a number of research projects and studies that have been conducted to address these issues regarding the accuracy of the reports provided by the credit bureaus, dispute resolution, and … (more) July 20, 2011

• Does your credit report contain serious errors that you are not aware of

  by Faye Mergel
  

  Your credit report is the all-important document in your life and it is important to know if there are any errors in it. The accuracy of the credit report is of prime importance and you have to ascertain if the information is accurate. Earlier estimates on credit reports have shown that those with grave errors vary to a large extent and may be anywhere between 3% and 25%. Consumer Data Industry Association had recently conducted a paid study. It is … (more) July 14, 2011

• Credit reports and the way it can impact your credit score

  by Faye Mergel
  

  Credit is important and so are the credit reports. But most people tend to focus only on their credit scores and don’t realize the impact of the credit reports on their credit scores. In most cases, it may be difficult to separate credit reports from credit scores. But it is important to understand that these are two sources of information for lenders and the others who can use it to determine the creditworthiness of an individual before making a decision … (more) July 8, 2011

• Be cautious while trying to obtain a free credit report

  by Faye Mergel
  

  When you wish to obtain the so-called free credit report, you must be doubly cautious. There are many who have burnt a hole in their pockets as they had inadvertently signed up for a paid program. A 23-year-old female sales associate from Northern Virginia wanted to run a check on her credit report and she signed up for a free credit report. She was also one of the many people who knew that she was well within her rights to … (more) July 4, 2011

• Nuances of disputing credit report errors perfectly

  by Faye Mergel
  

  Credit reports are essentially the passport to your financial world. You need them when you apply for a credit card, auto insurance, renting an apartment, or even when you seek employment. The information that is contained in your credit report is very critical as this is used to measure your creditworthiness and most banks and financial institutions use them for verification purposes. Hence, it is important to ensure that your credit report is in order and does not contain any … (more) June 30, 2011