Credit Report Archive for November, 2009

• Alaska Joins Crackdown on Debt Settlement Firms

  by Faye Mergel
  

  The attorney general for Alaska is joining other states in an effort to crack down on debt settlement companies that offer dubious services to consumers who are struggling with their payment. Such firms promise that they can negotiate with lenders without leaving negative items on a credit report. After an increase in complaints, forty states sent out a letter to the Federal Trade Commission seeking for amendments that would provide better protection to consumers against debt negotiators. Advocates say consumers … (more) November 15, 2009

• Deciphering Our Credit Score

  by Karen Anderson

  We often read about the importance of our credit scores in credit report tips. Apparently, this three-digit number is one of the most important indicator of our creditworthiness. Whenever we apply for credit, lenders and other financial institutions primarily base their decisions on our credit score. It is therefore a misconception to think that  it is our age, race, gender or even income that primarily determines if we are to be granted credit. Thus, the more we know about our … (more) November 15, 2009

• Parents Needed to Keep Child’s Credit Report Blemish-Free

  by Faye Mergel
  

  Teens have become more aware of the importance of having a credit card. Not only does it make shopping more convenient, it also helps them start their credit history at a young age. But experts warn that teenagers who mismanage their plastic will pay for its consequences in the future since all their transactions with creditors are recorded in their credit report. Specialists say teens, especially minors, must be properly guided on their first card to avoid ruining their financial … (more) November 14, 2009

• Jobs, Loans, Credit Reports – A Healthy Mix of Sangria in the Modern Life

  by Andy Snyder

  Are you aware that your credit reports are not only basically for your loan application? What this may mean is that, credit reports goes as far as being one of the basis regarding your job application by your future employer. This is mainly due to the reason that your credit report not only presents your financial history but your attitude towards your finances and to your life as well. Credit report advice will tell you that you cannot be considered … (more) November 14, 2009

• Price for Credit Report Freeze Remain the Same

  by Faye Mergel
  

  Industry specialists are happy to announce that the price of credit report freeze remain the same and will continue to be so for an indefinite time in the future. They add that the low cost will help consumers protect themselves better against identity theft. People who feel that their identities may have been stolen can easily protect themselves by freezing their credit report. Experts say each freezing and unfreezing an account costs $10 at the most. Once a credit report … (more) November 13, 2009

• The Advantage of Professional Credit Repair Services

  by Karen Anderson

  Credit report tips usually advice credit repair when consumers have either low credit scores or inaccurate credit reports. However, this does not necessarily mean that one should run to the nearest credit repair company. In the Fair Credit Report Act, consumers are able to dispute errors in their credit report for free. So this means that consumers have two options for credit repair: either they do it themselves or they hire a professional to do it for them. Since individuals … (more) November 13, 2009

• Cardholders Advised to Place Fraud Alert on Credit Report

  by Faye Mergel
  

  The number of people whose credit and debit card numbers were stolen by identity thieves have increased significantly as the fourth quarter of 2009 began. Fortunately, the government implemented several measures that will help consumers protect their identity and prevent fraudulent items from ruining their credit report. Experts also enumerated several ways that can help a consumer protect himself from fraudsters. Consumers who believe that their card number has been stolen are advised to immediately place a fraud alert on … (more) November 12, 2009

• Bankruptcy is for Losers; Debt settlement is for Winners

  by Andy Snyder

  Are you “hiding” from your creditors? Do you throw notification letters and bill statements in the garbage without even reading it because you are already aware of what it may contain(threats from the legal counsels of credit companies due to your 90-day delayed payments)?Stop this embarrassing scenarios in your life. Take this credit report advice: settle your debts through an alternative called, debt settlement program or choose a loan modification scheme. The good thing is, you can choose between the … (more) November 12, 2009

• FTC Credit Report Shows Quiet Holiday for Americans

  by Faye Mergel
  

  It seems that the streets will not be as busy as they used to be during previous Holiday seasons, or at least that is what the consumer credit report the Federal Reserve says. Released earlier this week, the monthly consumer report for October reveals that people are less likely to travel or shop during this year’s Holidays. According to the report, consumer activity went down at an annual rate of six percent during the third quarter of 2009. That means … (more) November 11, 2009

• Unveiling Credit Report Scams

  by Karen Anderson

  Credit report tips usually advice credit repair for those with bad credit. However, credit repair scams abound that promise quick credit fix. Unfortunately, many are deceived by these false claims either due to desperation or ignorance. We should remember, however, that quick and easy solutions for bad credit do not exist. On the contrary, they may even come at a high price such as identity theft. Fortunately, there are several indicators that would allow us to unveil credit repair scams. … (more) November 11, 2009

• Mysterious Items Appearing on Student Credit Reports

  by Faye Mergel
  

  Identity theft is the fastest growing crime in America simply because scammers have so many potential victims to work their crimes on. But parents have lately been alarmed not only by the fraudulent items on their credit report, but on their college student’s as well. With more than 10 million Americans being robbed by identity thieves each year, it is not unlikely for college students to be included in their victim list. But investigators recently note an increase in the … (more) November 10, 2009

• What a High Score Card may Mean to Your Finances

  by Andy Snyder

  Do you need a loan, a mortgage or simply an increase to your credit limit? As a credit report advice, you should know and prepare the things that are needed to avoid having your application denied. Taking extra caution with regards to your financial activities will go along way when it comes to your loan application. But do you know the bases lending companies use to approve or deny your loan? Have you heard of the FICO scores or score … (more) November 10, 2009

• Consumers Warned About Debt Settlement Marks on Credit Report

  by Faye Mergel
  

  Debt settlement firms promise that they will be there to help when consumers can no longer meet their obligations. They claim that they can reduce debts by 60 percent and stop embarrassing calls from collectors. They even promise to help consumers become debt free in 12 months. But many people do not know that debt settlement companies can only put them in a worse mess once lenders see a settlement noted on a credit report. Experts warn consumers that getting … (more) November 9, 2009

• The Major Pitfalls of Credit Scores

  by Karen Anderson

  Being creditworthy is an important thing for it means that we are better able to get approval from creditors and lenders when applying for loans. Because decisions are made primarily by the analysis of our credit history, our credit report should therefore reflect our good standing. Among the credit report tips to consider is avoiding common pitfall that negatively affect our credit score. The first pitfall is paying late. Our payment history comprises thirty-five percent or almost one third of … (more) November 9, 2009

• Employers Demand Credit Report from Applicants

  by Faye Mergel
  

  For job applicants, having an excellent credit report is no longer an additional credential—it has become a necessity. With the still gloomy economic atmosphere, many companies refuse to hire an employee who is having trouble with his personal finances. But some experts say such practice is against the rights of consumers and unfairly discriminates people who are showing honest effort to fight their way back to good credit. Careers specialists note that employers do not just want work histories, they … (more) November 8, 2009