Credit Report Archive for 2009

• The Changing Face of Credit Reporting System

  by Andy Snyder

  Credit report today does not look like what it was before. These documents concerning vast information with regards to how a customer handles his or her financial stability started 100 years ago. Trading of consumer financial information was pioneered by merchants merely associating with each other. Credit reporting did not start as a well established bureau a century ago. It was not intended to be as huge agencies as what they are right now. The twist of the story only … (more) December 16, 2009

• Credit Report Shows Signs of Stability for US Auto Industry

  by Faye Mergel
  

  Despite continuing to struggle with the economy, the United States automotive industry has remarkably shown some signs of stability during the third quarter of 2009, according to a recently released analysis by credit report provider Experian. Although 30-day delinquencies have been steadily rising and still continue to rise, it has significantly slowed down last quarter. Delinquency rate for the third quarter of 2008 to third quarter of 2009 went up by 5.8 percent, a more modest decline compared to this … (more) December 15, 2009

• The Way of Getting Protected is Easy

  by Karen Anderson

  Just like other financial tool like money and banking, credit reports are also being targeted by criminals. These criminals target a credit worthy individual’s credit report to use as their own, or gain profit by allowing it to be used by others. Fortunately, there are few but highly advised and effective how-to-protect-your- credit report tips that credit report holders can employ to prevent if not decrease the probability of credit report holders being victims of this fraud scheme. T These … (more) December 15, 2009

• Celebrity Credit Report Revealed

  by Faye Mergel
  

  Most people think that if they have as much money as celebrities do, they will not have a tough time managing their credit card debts. But even the million-netting celebs are not free from debt woes as their credit reports show that they are also having a tough time dealing with their creditors. Tori Spelling is the daughter of the late billionaire Aaron Spelling, the man who made his fortune by being a television and film producer. Tori enjoyed success … (more) December 14, 2009

• Replicating Errors in Credit Reports

  by Andy Snyder

  Credit report contains lots of information about the consumer. All the details of a person’s account, personal information, credit histories and the like can be revealed in credit reports. Studies, however, found out that aside from all these details, another thing (that has to be given proper attention) credit reports typically have errors!  A 2004 research conducted by the US Public Interest Research Group (U.S. PIRG) revealed that 79% of credit reports are found to have errors. This is such … (more) December 14, 2009

• US Legislator Expresses Support to FTC Proposals

  by Faye Mergel
  

  Democrat Senator Carl Levin of Michigan, who heads the Senate’s Permanent Subcommittee on Investigations, said the proposals by the Federal Trade Commission (FTC) to crackdown deceptive advertising on free credit reports would greatly help consumers. In a letter to FTC Chairman Jon Leibowitz, Levin said the changes will help assure consumers that they will get the free credit report that is guaranteed to them by federal law. In his letter, Levin noted that consumers who ask for a credit report … (more) December 13, 2009

• The Simple Secrets that Assure Approval

  by Karen Anderson

  There are many individuals who see their lives as a dead end of hopes, aspirations and dreams because of monetary constraints. This is a growing frustration that the present financial market created through lending companies and loaning firms. However, there are other set of constraints that borrowers need to overcome to be able to enjoy a healthier financial status. One of these many constraints is having a good credit report. Having a good one will make the first impression in … (more) December 13, 2009

• Fed Credit Report Shows another Decline in Consumer Borrowing

  by Faye Mergel
  

  American borrowing has decline for a record-setting nine straight month this October, another sign that consumers would be spending less this holiday season, making it more difficult for the economy to sustain its recovery. Federal Reserve’s credit report shows that consumer credit went down at an annual rate of $3.51 billion in October. Fortunately, it was not as big as the decline expected by economists, which is at $9.3 billion. Revolving credit, which involves credit cards, fell by 9.3 percent. … (more) December 12, 2009

• Behind the Walls of Credit Reporting System

  by Andy Snyder

  Credit report includes huge amount of information about the consumer. It involves much about all account information that a consumer opened, allowed or assigned. In addition to these, a credit report also consists of identification information, public records, inquiries and statements, which are written description of disputed information if there is any. Moreover credit report enlists late payment accounts or delinquencies, charge-off, collections and even closed accounts.  With all of these, credit reports must have been a bulky file of … (more) December 12, 2009

• Law Prof Advises Homeowners to Stop Paying Their Mortgage

  by Faye Mergel
  

  Late payments and loan defaults are serious marks on a credit report, but a law professor from the University of Arizona thinks it is the best thing to do. Brent White argues in his new paper that the tactic could save homeowners a lot of money. As the United States housing crisis begins its fourth year, many people are starting to get convinced. White is not the first person to suggest that people who owe more on mortgages than their … (more) December 11, 2009

• Essential Credit Report Tips to Enhance your Credit Report

  by Karen Anderson

  Your credit report is used by your potential lenders to judge if they will approve your application for credit or loans.  It is important that you take into consideration credit report tips that would enhance your credit report.  These tips are very manageable and worth doing. Your credit record has a big impact in your life especially when you are planning to get a house or a car loan.  The first tip is to check your credit account carefully. Your … (more) December 11, 2009

• New Bill to Keep Unpaid Medical Bills of a Credit Report

  by Faye Mergel
  

  Most people who suffer long term illness also suffer from another major problem: huge medical bills. While fighting with their illness, they must also struggle to meet those bills or end up with seeing their credit report ravaged by delinquencies or loan defaults. Accumulating those items in a credit report would not only ruin a person’s ability to borrow, it will likewise prevent him from getting back on the right financial track. Fortunately, lawmakers are pushing a bill that would … (more) December 10, 2009

• The Perfect Choice for that Perfect Score for You

  by Andy Snyder

  You have been a good citizen. You pay your taxes and even follow traffic rules consistently. You actually are not be aiming to be a model citizen, instead, what you need is a loan. Well a good credit report advice will tell you that you are indeed on the right track. Being consistent with regards to your payment history is also plus factor in your credit reports. These are viewed by credit companies and you are then given a high … (more) December 10, 2009

• Law School Advises Students to Maintain Good Credit

  by Faye Mergel
  

  Having a good credit allows a person to have a home or car without paying for it upfront. It is also helpful in addressing needs when one is tight of cash. Professors from the University Of Virginia School Of Law are well aware of that, so they are encouraging students to keep their credit report neat and free from items, which could hurt their chances of getting good loan deals. Consumers can start their credit history as early as college … (more) December 9, 2009

• Essential Information contained in your Credit Report

  by Karen Anderson

  A credit report is very important. This is the data assessed by the company you are going to apply for a credit card, a loan to buy a house or car and other things that require large purchases.  If your credit report reflected that you don’t pay your bills on time, or you have a lot of debt, it is more probable that you can not avail that loan.  You may get it but with a very high interest. Do … (more) December 9, 2009