Credit Report Archive for November, 2009

• Consumers Urged to Check Credit Report before Co-signing

  by Faye Mergel
  

  Co-signing a credit card has been practiced by consumers for many years but it has become especially relevant recently. Since new federal regulations will not allow teenagers to sign up for any plastic unless they have enough income to qualify, more card applicants are expected to look for co-signers next year. But experts remind parents and other adults that teenagers can get cards on their own. On the other hand, those who are willing to co-sign for an account are … (more) November 23, 2009

• Fraudsters Pull Out Credit Report through Shared Music Files

  by Faye Mergel
  

  Millions of music enthusiasts are using peer-to-peer networks to share and download songs. Unfortunately, some crooks are using those same networks to pull out credit reports and other important documents. Federal financial student aid applications and tax returns are just some of the important documents that crooks steal through peer-to-peer networks. Investigators say most people install file sharing software in their computer to increase their music library or to download documents, applications, and videos. But what they do not know … (more) November 22, 2009

• How to Save Money even when in Debt

  by Andy Snyder

  In today’s materialistic world, more and more people get into credit trouble. Auto loans, mortgages, credit card loans, you name it, people usually get in trouble in one of these categories. And that is why if you it is now almost a necessity for people to get their credit report advice. A Credit report of course is what you will need which is almost like a view of your credits and everything in it will affect your credit score. The … (more) November 22, 2009

• Workers Advised to Check Credit Report after State Database Breach

  by Faye Mergel
  

  A hacker managed to break into the database of Nebraska Worker’s Compensation, prompting the Federal Bureau of Investigation to help in identifying the culprits and those who may be affected. Investigators advise workers to review their credit report to detect any possible identity fraud. The FBI and Nebraska State Patrol have collaborated to identify the people responsible for the recent breach which could affect thousands of people. Last week, the state’s chief information officer noticed that the Worker’s Compensation court … (more) November 21, 2009

• Empower Yourself against Identity Theft

  by Karen Anderson

  Each of us should have a proper grasp of the credit report tips available that would guard us against identity theft. Why? Because we all know how devastating identity theft can be. When malicious individuals have full access of all our essential information, the damage they can do is almost unimaginable. Not only are we robbed of our hard-earned resources, we could even be used for highly incriminating transactions that could warrant us federal punishment. Unfortunately, the increasing use of … (more) November 21, 2009

• Woman Fights Decade-long Fraud

  by Faye Mergel
  

  It started out small but the Gower, Mo. woman did not think that it would ravage her credit report with $35,000 worth of debt. For someone who does not hold a credit card and has never applied for a home loan, that amount is something that should raise a lot of questions. Angela Horn has been dealing with identity theft since 2000. It started when a telephone company sent her a collection notice tying her address in St. Joseph. She … (more) November 20, 2009

• All I Want for Christmas is My FCRA (Federal Fair Credit Reporting Act)

  by Andy Snyder

  Have you ever experienced feeling small when faced with certain situations like having incorrect data entered in your credit file and afterwards,  paying for its consequence? Are you having the feeling that someone is secretly stealing your identity? Are you 100% sure that the credit score on your file does not justify your financial history at all? Was it too low? All these can add up to your daily stresses. Remove that frown from your face by following this credit … (more) November 20, 2009

• Banks Write Consumers Off Without Notice

  by Faye Mergel
  

  Rick Niles was on his way home from work last week when he stopped at a gas station to fill up. As usual, he pulled out his Shell card and handed it over to the attendant. It did not work. The 40-year old aerospace engineer thought that there was a problem with the filling station but days later, he learned the truth. His card issuer, Citi, cancelled his two-year old card account with no warning, even though Niles said he … (more) November 19, 2009

• How to Protect Yourself from Credit Discrimination

  by Karen Anderson

  Whether we may admit it or not, discrimination still exists. Although our society has become more accepting and tolerant of differences, there are still traces of hostility that can be seen. This is also true of credit applications. We should then arm ourselves by knowing the credit report tips that would protect ourselves from discrimination. The Equal Credit Opportunity act provides many important rights for individuals applying for credit. The main purpose of the law is to ensure that all … (more) November 19, 2009

• FICO Versus Vantage: A Cutting Edge Battle

  by Andy Snyder

  It is not only the age of cyber world these days. A lot of new things surfaces every single day from cellular phones to a new type of cancer to Vantage scores. Yes! You heard that right. There is a new way of calculating your credit score called the Vantage Scoring Method. A good credit report advice says – take advantage of it. The Vantage Score is created by the 3 major credit reporting companies. It uses both collective and … (more) November 18, 2009

• Homebuyers Advised to Check Credit Report Immediately

  by Faye Mergel
  

  With the current housing credit expiring at the end of this month, President Barack Obama approved another legislation that will extend the $8,000 tax cut to first-time homebuyers until April 30 next year. Consumers who are planning to have their own homes for the first time are advised to check their credit report now and make sure that it is free from errors to get the best mortgage deals available. Legislators say they do not only want to help consumers … (more) November 18, 2009

• Credit Rights: A Consumer’s Essential Armor

  by Karen Anderson

  There are various credit report tips available that talk about the importance of having a good credit score or understanding a credit report. Although all of these are well and good, there is an even more pressing concern that has to be addressed. The main problem on why consumers are easily scammed, misled, or discriminated against is that they are unaware of their rights.  Whether applying for credit or loan, correcting errors in our report, or battling against identity theft, … (more) November 17, 2009

• Excellent Credit Rating Gives Confidence to University of Maryland Medical System during Bond Sale

  by Faye Mergel
  

  The University of Maryland Medical System (UMMS) plans to embark on a $250 million bond sale on the eve of its 25th founding anniversary. Administrators say they are confident that they will get good interest rates from bond buyers because of their excellent credit rating from the three major rating organizations in the United States. The proceeds will be used to improve patient services for its 11 hospitals, establish a comprehensive medical records system, refinance a huge portion of its … (more) November 17, 2009

• Consumers Advised to Seek Debt Management Help from the Right People

  by Faye Mergel
  

  Many consumers say they feel desperate when their debts get out of control. But experts tell them that seeking help from the wrong people could only add more trouble to their financial lives. Additionally, it can ruin the credit score of people once the so-called debt management professionals are not able to fulfill their promise. Specialists cited a case that is currently pending in the state of Illinois as an example why consumers must be very careful when seeking help … (more) November 16, 2009

• The Love-Hate Relationship Between You and Experian

  by Andy Snyder

  Do you love the services you get from the big 3(Experian, Equifax, and TransUnion) but hate it when you see your scores from them differ from each other? Next thing you know, you are more than confused about your credit scores. You need not worry when faced with situations like this. Among the 3 major credit bureaus, Experian, we can say, has a lot more “experience” regarding situations like this as compared to its competitors. That is one good credit … (more) November 16, 2009