Credit Report Archive for October, 2009

• Knowing the FICO Scoring and Your Credit Score

  by Karen Anderson

  Did you know that 78% of American households had one or more credit cards in 2008? This was according to a Nilson Report that was released in April 2009. This is a proof of how Americans have become reliant to credit cards making it inevitable for information on credit report tips to be made available. This is to arm every credit card holder with knowledge on the advantages and disadvantages of holding a credit card. Inasmuch as a credit … (more) October 24, 2009

• Nicolas Cage Credit Report not a National Treasure

  by Faye Mergel
  

  Financial advisers would tell consumers to idolize anything about Nicolas Cage except his debt management. To start with, he owes the internal revenue service $6.3 million in back taxes for 2007. Additionally, East West Bank is suing him for not paying back the $2 million he owes. Despite being one of Hollywood’s highest paid actors, he still has trouble paying off debts. It is estimated that he owes a total of $9 million to multiple creditors. Experts say with that … (more) October 23, 2009

• Credit Report Advice as an Answer to Credit Bureaus

  by Andy Snyder

  Credit reports and credit scores are the two most basic assessment tools used by both lending companies and borrowers in looking at the borrower’s current financial situation. These assessments give an overview of the borrower’s credit history that will be used to judge the credit worthiness of the borrower. Credit reports would usually include six parts: Personal information; The profile Summary or Overview; The Account History; Public information; Inquiries; Creditor contacts. These parts are sometimes too technical for … (more) October 23, 2009

• Elvis Impersonator Racks up Debts in Another Person’s Credit Report

  by Faye Mergel
  

  An Elvis Presley impersonator was arrested and facing charges for fraud after opening several credit card accounts using another person’s name. The victim would not have known about it if his employer did not help him check his credit report. Michael Myers, an Elvis impersonator and local events promoter who was arrested earlier this year for selling counterfeit tickets he claimed was for a Kid Rock show he was bringing to town, was arrested last Friday for identity theft. As … (more) October 22, 2009

• Reading Your Credit Report the Easy Way

  by Karen Anderson

  Useful credit report tips should tell you how to read your credit report. Sometimes, people take their credit reports for granted because it looks lengthy and full of technical terms. However, you need to understand everything that is contained in your credit report so you can keep tabs on your various accounts and also so you can also handle your debts easily. Do not get overwhelmed with all the technical terms and the length of your credit report. It does … (more) October 22, 2009

• Homeowners with Credit Report Woes Gather in California

  by Faye Mergel
  

  Homeowners from several parts of the United States gathered in California yesterday in hopes of finding a way to keep their homes. A non-profit organization launched a program in Daly City that aims at providing debt-troubled consumers with loans that could help them keep their homes. Homeowners camped around camp palace, waiting for an opportunity to avoid foreclosure. Troubled credit reports reflect the present situation of most Americans: drop in income, loss of a job, and debt problems. One more … (more) October 21, 2009

• Credit Report Advice as a Tool in Good Credit Reputation

  by Andy Snyder

  Credit report advice is one of the most effective tools in troubleshooting and repairing the credit reputation of the borrower. Credit reports are the documentation of the credit analyzing companies regarding the credit handling capability of the borrower.  Although credit reports are available for both of the parties of the lenders and borrowers, the essence of this report is in the awareness that it stand for. Credit reports by the lenders are more difficult to read since they are loaded … (more) October 21, 2009

• Man Denied after Seeking Help for Identity Theft

  by Faye Mergel
  

  A Florence man’s case proved that sometimes, victims have to fight their own case. His identity was stolen along with money he saved in his accounts but he did not get help when he asked for it. Deputies refused him so he had to find ways that will keep him from losing more money. James Backus said his identity was stolen this September and was used to withdraw $2,300 from his checking account. Without making any recent loans, Discover Card … (more) October 20, 2009

• Improving Your Credit Score the Reliable Way

  by Karen Anderson

  Having problems on your credit score? Now is the time to look for credit report tips that can help you improve your credit score. If you have a poor credit score, you will also have a poor chance of availing a credit line and a poor chance of getting employed. There are ways, however, to improve your credit score in order to have a brighter future when it comes to applying for a job, applying for a loan or credit … (more) October 20, 2009

• FTC Seeking Comments for 2010 Changes on Free Credit Reports

  by Faye Mergel
  

  The Federal Trade Commission (FTC) is changing the way “free” credit reports are marketed. Federal regulators say changes will be in line with the new Credit Card Responsibility and Disclosure (CARD) Act of 2009. The bill was first signed by President Barack Obama on May 22, 2009 with the aim of protecting consumers from onerous fees imposed by creditors. CARD Act also aims at assuring that consumers fully enjoy their rights, including the right to a free credit report once … (more) October 19, 2009

• The Logic behind Using Credit Report Advice in Borrowing

  by Andy Snyder

  In a world that is generally dominated by financial markets, the best ways of being stable is through establishing a good credit reputation. It is undeniable that an untarnished reputation is not at all times an easy task to do. This reputation would take more than just stable current financial situation; it will also require a good precedence from a good credit history. In most countries, especially the United States, goo credit reputation is assessed through a series of financial … (more) October 19, 2009

• Foreclosures Plaguing Reports, More Homeowners in Need of Cleaner Credit Sheets

  by Faye Mergel
  

  Many American consumers found it impossible to keep their homes as recession went on longer than foreseen. Some experts say many people did not even see the economic crunch coming, that is why they were caught treading thin credit lines as US market dipped and fluctuated. As of August this year, foreclosure rates in America remained at near record-high with 358,471 homeowners defaulting on their loans. Although that is a decrease of one percent from its preceding month, it is … (more) October 18, 2009

• You Can Develop Credit Score Using Your Credit Card

  by Karen Anderson

  Swipe it. This is the power of a credit card. You can get that adorable jacket, that top of the line cellular phone or those cool shoes in just a swipe if you have a credit card. However, a credit card can also bury you in debt and send you searching for credit report tips if you become too carefree. Instead of using your credit card to indulge yourself, why don’t you try looking at it as a way to … (more) October 18, 2009

• Real Estate Short Sale an Emerging Credit Report Blemish

  by Faye Mergel
  

  Most consumers are worried about losing their homes to banks knowing that a foreclosure is a serious blot on one’s credit report. However, many people do not know that short selling property could also severely tarnish a person’s record with the bureaus. Many homeowners who can no longer finance their homes or pay off mortgage loans decide to sell the property they own. But there are people who owe more to lenders than their home’s value. So they ask lenders … (more) October 17, 2009

• Extra Services in Understanding and Monitoring Your Credit Report

  by Andy Snyder

  As you may already know by now, there are three major credit reporting agencies that you can easily access your credit reports from: Experian, Equifax, and TransUnion. Under specific circumstances, you are allowed by the law to receive a free credit report from any of these three credit bureaus every twelve months or any time you qualify for a free copy under federal laws. However, relying on the annual free credit reports may not be enough for some people. For … (more) October 17, 2009