Credit Report Archive for August, 2010

• Protecting the Country While Protecting Your Name

  by Faye Mergel
  

  Identity theft has been a problem of the county for a long time and has already affected over 11 million American citizens throughout the years. Identity theft is a crime wherein the criminal would use ones credit line or “identity” to pay for the items he or she purchased or for the services he or she acquired. In the United States, soldiers are the most susceptible people who have their identities stolen by these criminals. Soldiers who are destined overseas, … (more) August 29, 2010

• Interesting Facts about Credit Bureaus

  by Andy Snyder

  Whenever we take out a loan, apply for a credit card or any line of credit, the first thing that lenders, banks, and organizations will check would be our credit history. Our credit history basically tells them how good we are in repaying back debts. It will also give them a bird’s eye view of our lifestyle. It includes information about us, identifying information, current and previous employment information, addresses and pone numbers that we currently use and have used, … (more) August 27, 2010

• Students Face Financial Charges At 18

  by Faye Mergel
  

  A recent study conducted by one of the country’s largest loaning company for students, Sallie Mae, they found out that college student use about 4 credit cards to pay for whatever that is that they purchase. In study, it showed that a lot of college students are now facing financial charges since they could not afford to pay their monthly financial burden on time. According to the study, the median amount of students’ debts has increased in about 3 percent … (more) August 27, 2010

• Tips on Filing a Dispute on Your Credit Report

  by Karen Anderson

  Credit reports are rarely 100% accurate. More often than not, information that is sent to the credit reporting agencies’ database are erroneous. One of the reasons why it is inaccurate is because different people have different interpretations on the data given to them. So, when the encoders type this in the system it will come out erroneous. Also, because they are dealing with billions of pieces of information, it is usual that these are mixed up. Having inaccurate data on … (more) August 25, 2010

• Threatened Woman Sues Debt Collecting Company

  by Faye Mergel
  

  Philadelphia – threat has become one of the primary secret weapons of collecting agencies to force their customers to pay up their debts. A lot has already been harassed by these debt collectors and their threats have made the borrowers mouth quiet. However, a local woman, who has been threatened by a lending company, is ready to shut the company down. The woman, Seena Rosenberry, has been bugged by a lending company for weeks. She says she was very nervous … (more) August 25, 2010

• Equifax Lost Case for Misleading Consumer Disputes

  by Faye Mergel
  

  New York – Equifax Information Service LLC has recently faced a law suit for failure to investigate and provide their side valid reasons in disputes on top of the correctness of their public files. The consumers who filed the case against one of the country’s largest credit reporting agency have won the law suit. In the judge’s ruling, by Judge Joseph H. Rodriguez, he said that the claimant, Bruce A. Summerfield, was enough to represent the consumers who have supported … (more) August 23, 2010

• Students Should Start Building Good Credit History

  by Faye Mergel
  

  Students have a lot of necessities for their studies and school life. Books, tuition fees and dorm fees do not usually fit all in their part-time job salaries. Parents can’t at all easily provide the money for these expenses at once. The answer for covering all these expenses is credit all along. Students, whether under a personal or authorized user credit card, have their own credit history. Like with how teens handle auto insurance, not all adults consider young people … (more) August 21, 2010

• Negative Items Appear In Credit Reports for Seven Years

  by Faye Mergel
  

  One question that has been on-going for years is how long do negative items appear on credit reports. Many consumers fear that the negative items might affect them for years and that they delay the consumers’ plans to apply for credit or buy for a new car. Lawsuit or judgment stays on a report for seven years or until the statute of limitations are up. Information on bankruptcy stays for seven but could extend to ten years. Tax liens likewise … (more) August 19, 2010

• Tips on Fixing a Bad Credit with Your Credit Report

  by Karen Anderson

  Having bad credit is becoming unavoidable these days. The economic crisis has brought us to a point where it is becoming more and more difficult for us to pay our debt on time and keep up with the terms our lenders and our creditors laid out. As much as we want to keep good credit and a high credit score, it seems that the only choice that we have is to learn how to manage our finances given the circumstances. … (more) August 18, 2010

• How Can I Make Sure I Get a Loan with My Credit Report?

  by Andy Snyder

  An advice to make sure that you get the loan that you need is to make sure that you have a good credit history. A good credit history does not only entail that you have to make on-time payments on your loans. When lenders review your creditworthiness, they don’t look at your credit score alone. All of the information that is stated there in your credit report is important in determining whether they will approve your application for a loan … (more) August 18, 2010

• Consumer Rights over Credit Report Disputes Revealed

  by Faye Mergel
  

  Consumers may find their loan or insurance applications denied for being a risk borrower or client. Lenders or brokers may tell them that this is because the consumers aren’t worthy of the service because of their bad credit history. Consumers who believed they have a good credit score and credit proper behavior might remain at awe. Fair and Accurate Credit Transactions Act of 2003 or FACT Act aims to enhance the usage of credit information and provide consumers greater access … (more) August 17, 2010

• Credit Report Check Now a Necessity

  by Faye Mergel
  

  The Fair & Accurate Credit Trans Act (FACTA) is a law that allows every American consumer to obtain a free credit report every twelve months. Many consumers are well aware of this, but many aren’t. The government, economists and even financial institutions advise consumers now and then of the importance of this annual check. Purposes of the check are to provide timely error correction and improvement of accuracy check on the reports. FACTA outlines the permitted reasons for using the … (more) August 15, 2010

• Things to Know About My Free Annual Credit Report

  by Andy Snyder

  A credit report is a very important file that lenders use to approve or deny an application for a loan or credit. This holds information about the creditworthiness of the applicant or the reliability of a person in paying back debt. So if they see that you have a good credit history, they will more likely grant you that loan you are asking for. If you have a bad credit history on the other hand, you will have difficulty on … (more) August 13, 2010

• Legislation Puts Limit On The Use Of Credit Reports For Hiring Decisions

  by Faye Mergel
  

  Credit reports of a potential employee can be checked only if permitted to do so, says a recent legislation that is being passed to about twenty states in the United States. The legislation limits the ability of employers to check the credit history reports of their potential employees only after obtaining permission. Many employers state that the reports can tell a big picture about their future employees. The reports will tell them if the candidates are capable of embezzling funds … (more) August 13, 2010

• Tips in Understanding and Taking Care of Your Credit History

  by Karen Anderson

  Your credit report is an essential file that can determine your financial fate. This is the information lenders use to decide on your application for a credit card, a loan, or any type of debt. Employers also use them on evaluating your person. Landlords request for them so they would know how well you pay. If you want to be granted any loan amount that you request, a low interest rate, a good apartment, and a good job, you must … (more) August 11, 2010