Credit Report Archive for October, 2009

• FTC to Underline “Free” Credit Report through Consumer Response

  by Faye Mergel
  

  The Federal Trade Commission received many complaints from consumers who were misled by commercial endorsements for free credit reports. Complaints include being misdirected from FTC’s official credit reporting site through hyperlinks which lead people to private company websites. This prompted the Commission to reconsider its current rules on free consumer reporting, with an aim of minimizing deceptive marketing practices. Comments are being sought from consumers on how they would like present rules to be changed. Amendments will be in line … (more) October 16, 2009

• How to Request for Reinvestigation for Credit Reports

  by Karen Anderson

  How much are you getting from credit report tips? By now, you should know that credit report bureaus make mistakes more than half of the time and you should also do an investigation of your own. This is true for everyone, even those who do not have poor credit history. This is also especially true for people who are planning to make a big purchase such as a car or a house. If you have plans of making a big … (more) October 16, 2009

• Tarnished Credit Report Major Road Block for Card Aspirants

  by Faye Mergel
  

  Market analysts note that shopping for credit card is not as simple as it used to be. Card issuers have drastically raised their lending standards at the height recession and during the initial implementation of new credit laws. Now that US economy crunch is easing, lenders are already less strict but only to a minimal degree. They still prefer dealing with clients who have excellent credit reports, refusing to risk profits by filling up their clients list with people who … (more) October 15, 2009

• Understanding Your Credit Report with TransUnion and its Services

  by Andy Snyder

  Sometimes, you don’t need to request all of your credit reports in one go right away. Sometimes, all you’ll need is to look in one out of the three credit reporting agencies to have a good grasp with the activities on your file. And one of the companies that you can choose to help you monitor your information is TransUnion. One of the top characteristics of TransUnion is that they have an extremely user friendly website. Credit report advice from … (more) October 15, 2009

• “Fabricated” Credit Report Against Pirate Bay Leaked into Torrent Site

  by Faye Mergel
  

  Back in July, Dutch court ruled that activities by four Pirate Bay founders are unlawful and decide to ban  website’s traffic in Netherlands. The case was pushed by BREIN, a local anti-piracy group in Netherlands, which fights illegal file sharing in the Internet. However, Swedish authorities made further investigations and found out that the site was not actually owned by the four defendants. It pointed to Reservella, a company based in the Republic of Seychelles, as operator of Pirate Bay. … (more) October 14, 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 14, 2009

• Lenders Prioritize Credit Report

  by Faye Mergel
  

  Industry experts note that there are a lot of people who are not aware of the importance of their credit report. According to them, many borrowers think that their job status and income are the most important factors that lenders look into during loan application. But creditors give greatest emphasis on credit reports since they determine how likely a deal will turn out successfully, experts say. Creditors say that they have encountered people on several occasions who do not know … (more) October 13, 2009

• Knowing Your Credit Reporting Agency: Experian

  by Andy Snyder

  By now, you may already know that Experian is one of the three major credit reporting agencies in the US, aside from Equifax and TransUnion. These agencies work by collecting your information from different credit institutions and consolidate these data on one document, your credit report. All of the three does the same job, but they have their own different methods in calculating credit scores. Along with these differences, these various credit reporting agencies also offer additional products that can … (more) October 13, 2009

• Fake Credit Report Used in Piracy Case

  by Faye Mergel
  

  A Netherlands anti-piracy organization may have gone too far in its crusade against piracy. The Dutch group BREIN is found out to have used a fake credit report in court in order to prove that a “Pirate Bay” founder owns piracy site Reservella. When a credit reporting agency was asked if presented information came from them, representatives deny it placing BREIN in a dubious stand. BREIN is a Netherlands-based group that aims to combat software piracy in the Internet. It … (more) October 12, 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 12, 2009

• Credit Reporting Agency Warns About Ex-partner Debts’ Effect on Credit Score

  by Faye Mergel
  

  Experian warns consumers that their credit score could get hurt if their ex-partner mismanages his or her debts. In a press release, the bureau says couples should also settle debt obligations after divorce to avoid further conflict. A research by Experian reveals that consumers think that divorce separates them from joint credit obligation with their partner. However, the bureau says creditors do not care how debt obligations are divided after couples separate. Experts add that any debt incurred through a … (more) October 11, 2009

• Equifax: Getting to Know Your Credit Reporting Agency

  by Andy Snyder

  As you may know by now, Equifax is one of the three major credit reporting agencies where you can get your credit report from. As this company has control on what goes to your file, it is just normal that you learn the basic things about them. One of the most basic credit report advice that you can get is to learn to understand your credit report. By doing this, you can prevent unnecessary and unwanted damages a small error … (more) October 11, 2009

• Phishing Leading Cause for Credit Report Anomalies

  by Faye Mergel
  

  Identity theft investigators point out to phishing scams as one of the leading causes for stolen identity. Scammers usually hack through a person’s email address in order to retrieve personal identifying information which they later use in opening fraudulent accounts. Investigators say that phishers rack up debt, do not pay them back, and finally ruin the creditworthiness of a person. They add that phishers do not stop while they can still get something out of a credit report. According to … (more) October 10, 2009

• The Difficulties of Disputing Errors in Credit Reports

  by Karen Anderson

  Sometimes it is just so difficult to dispute errors especially if they are so absurd. For instance there are errors where the current employer listed on your credit report is your old boss who has passed away ten years ago. You may also find that there are at least a hundred ways to spell your name. Aide from this, you may also find a medical bill that you have resolved 5 years ago has been recorded as a delinquent debt, … (more) October 10, 2009

• FCRA: Protecting Your Credit Report and Your Rights

  by Andy Snyder

  As your credit report can affect a lot of things in your life, it is just fair that the government provide some protection over its citizens with regards to the information that can be found on your report. This way, you can be sure that you can still be given a fair chance in everything, without your past credit delinquencies affecting your opportunities. This is why a wise credit report advice is to get to know your rights in connection … (more) October 9, 2009