Credit Report Archive for October, 2009

• Federal Government to Rescue Endangered Credit Report

  by Faye Mergel
  

  Residents of Spartanburg County who are homeless or are on the verge of homelessness may soon receive help with rent, utility bills, and other services. Experts say the aid is extremely significant, since the creditworthiness of homeowners suffer greatly when a foreclosure appears on their credit report. Federal government has recently awarded more than $500,000 to Spartanburg County through a measure called the Homelessness Prevention and Rapid Re-Housing Program. It is part of the American Recovery Act signed by President … (more) October 31, 2009

• Credit Report Errors Should be Disputed and Reinvestigated

  by Karen Anderson

  If you lack action upon stumbling on a credit report error, you will end up with nothing no matter how many credit report tips you read. Your credit report is crucial when it comes to the future of your financial status. There will always be a point in your life when you may need to open a credit line, apply for loan or apply for mortgage. All these situations will require you to have your credit report prepared by a … (more) October 31, 2009

• College Students Warned Against Commercial Credit Report Sites

  by Faye Mergel
  

  College is a time for many students to transform themselves into financially responsible adults. Since most of them start with blank debt slates, the Officer of Consumer Affairs and Business Regulation wants to help these students stay out of bad debt. The office director advises college students to be wise on their loan applications and to avoid paying late. Additionally, students are advised to check their credit report regularly to make sure that their accounts are updated and free from … (more) October 30, 2009

• Act When You Find a Credit Report Error

  by Karen Anderson

  Your credit report is prepared by credit bureaus but most of the time, the information that they put in their report are erroneous. In fact, 76% of the time, credit bureaus are making inaccurate assessment of your credit scores. This is why credit report tips contain information on how you can be prepared should you encounter an inaccurate assessment on your credit report. You should take action if you are wrongly assessed. You should be familiar with your credit … (more) October 30, 2009

• Clearing Bankruptcy off One’s Credit Report

  by Faye Mergel
  

  When the recession reached its height last year, many consumers did their best to manage debts on their own and avoid getting into financial troubles. Unfortunately, many of them were not only able to keep their finances from falling apart, they also found themselves unable to rebuild it—at least most of them think that they cannot get out of their debts for the next few years. With the economy getting but not well enough to help people feel secured financially, … (more) October 29, 2009

• Detect and Prevent Identity Theft through Your Credit Reports

  by Andy Snyder

  Identity theft is a stealthy crime almost anyone is vulnerable to. It is highly destructive and hard to detect, making it one of the scariest crimes today. Fortunately, detecting identity theft has been made easier with the legal financial documents that you can easily acquire nowadays. These documents, most popularly known as credit reports, can help you tell if someone else is using your name for other transactions. What to do: Request for a free credit report from any … (more) October 29, 2009

• Specialists Explain About Pre-employment Credit Check

  by Faye Mergel
  

  Many debt-troubled consumers are finding it difficult to find work. This is because employers pull out the credit report of potential employees as part of their screening. More and more job applicants are getting confused by the practice, prompting employment experts to launch consumer education programs to help Americans get back on their feet after the recession. As noted by experts, most employees want to know an applicant’s financial ability and debt status. Employers believe that having an excellent credit … (more) October 28, 2009

• The Difference between Credit Report and Credit Score

  by Karen Anderson

  There are distinctions between credit report and credit score and this is one of the most helpful among credit report tips that you are currently looking for. If you have been a credit card holder for along time, you are probably among those who took information regarding credit report and credit score for a long time. After the impact of financial crisis, more and more people are recognizing the need to be well-informed on how credit cards, loans and mortgages … (more) October 28, 2009

• Fannie and Freddie Say “No” to Disputes

  by Faye Mergel
  

  Loan experts warn consumers that any dispute in a credit report may cost them the refinance they need. As noted by specialists, Fannie Mae and Freddie Mac do not accept loan applications from consumers who have a disputed item under their name. This is regardless of how high the credit rating of a person is. Experts say consumers who have a credit score near 800 and a solid equity in their home do not have the assurance that they will … (more) October 27, 2009

• The Advice that can Change Your Stars

  by Andy Snyder

  People live their lives hoping that something big would result from years of hard work and investment. Sadly not all hard works are automatically translated to financial stability and capability, sometimes hard work is really not enough. When individuals are confronted with financial difficulties they would usually run to lending companies that would give them the cash they need and in return the company would require monetary payments. These payments are usually coupled with interests that will compensate for the … (more) October 27, 2009

• Do Not Be Victimized: Know Your Credit Report

  by Karen Anderson

  One factor that triggered the financial crisis is the credit crisis. Given that people have become reliant with credit cards, there were so many credit companies who came out of nowhere and got into the very profitable business of credit cards. Unreliable credit card companies have given unreliable service and mediocre credit cards causing interests to soar until such time that there were so many credit card users who could not pay. Do not let this happen to you or … (more) October 26, 2009

• Victims of Enloe Paperwork Theft Entitle to Free Credit Report

  by Faye Mergel
  

  Chico, California – Workers at Enloe Medical Center found out last Tuesday that some paper files containing patient information were missing from their storage facility. Normally, those files are encoded in their computer before being shredded to protect patient information. Because of the theft, many patients fear that they would eventually fall victim to identity theft. But hospital officials assure patients that they can still protect their identity by regularly checking their accounts with the credit reporting agencies (CRAs). Officials, … (more) October 26, 2009

• Experts Clarify Credit Report Confusion at the GSEs

  by Faye Mergel
  

  Consumer educators noted that there have been many complaints lately regarding the policies of government-sponsored enterprises (GSEs) on acceptable credit report life cycles. Consumers are, likewise, confused about which credit rating models are accepted by Fannie Mae and Freddie Mac, GSEs which provide mortgage security to lenders, so they can provide Americans with low interest loans. Credit reporting agencies (CRAs) are getting questioned lately regarding their models, prompting experts to launch education programs to consumers. In June, Fannie Mae issued … (more) October 25, 2009

• The Fair Credit Reporting Act and its Benefits

  by Andy Snyder

  If borrowers can always be updated in the content of their credit reports, the financial business of crediting will never be the same. Through the free flow of credit report information, the individuals who want to borrow money will be given an edge to become more credit worthy. Before a lending company approves a loan proposal the borrower’s credit worthiness is initially diagnosed to know whether the credit will be an investment or a liability. Free credit reports are now … (more) October 25, 2009

• Schwarzenegger Veto Allows Employers to Continue Credit Report Check

  by Faye Mergel
  

  Governor Arnold Schwarzenegger vetoed a bill that would have imposed more restrictions on employers regarding their use of credit during hiring process. AB 943 left the governor’s desk unsigned yesterday, after about rolling through Assembly and Senate floor for almost half a year. Consumer advocates are expressed dismay over the decision, recalling that Schwarzenegger vetoed a similar bill in 2008. California employers can still use credit report as basis for denying employment after Governor Schwarzenegger denied Assembly Bill 943. The … (more) October 24, 2009