Questions & Answers Archive for June, 2010

• What are the Alarming Misconceptions We Have with Our Credit Reports?

  by Derek Brown

  Having not to understand the dangers of ignoring how your credit report is generated and how it works puts your credit history (read: future) at stake. There are various misconceptions floating around and it might hit your record soon. So before this would even happen, be familiar with some misconceptions … (more) June 30, 2010

• What is a Credit Report and How is it Generated?

  by Derek Brown

  A Credit Report or what is also referred as credit file disclosure provides you with all the information gathered in your credit file or a written file of your credit history. The information written herein is maintained by the Consumer Reporting Agency (CRA) or the credit bureaus. The three national … (more) June 25, 2010

• How Long a Negative and Positive Record Stays on My Credit Report?

  by Derek Brown

  Every financial information found in your credit report affects your credit score depending on the information listed whether a positive (e.g. long account history) or a negative (e.g. past due accounts) record. An interesting fact is that positive information stays in your credit report indefinitely. This would just mean that … (more) June 22, 2010

• Am I always eligible for a free credit report and credit score?

  by Derek Brown

  The enactment of Fair and Accurate Credit Transaction Act (FACT) Act which was signed and put into law in December 2003 guarantees every US consumer a free credit report from each credit reporting agencies (CRA’s). In addition, the law underpins new privacy regulation and identity theft protection dispute procedures. This … (more) June 17, 2010

• Legitimate versus Scam Credit Repair

  by Derek Brown

  If you are one of the very many who are in dire need of a credit solution for bad credit or inaccuracies, then don’t ever fall for scams. Many credit repair companies can advertise like they are the only best thing in the world. However, they are not at all … (more) June 14, 2010

• How will a credit repair company fix inaccuracies in my credit history?

  by Derek Brown

  The percentage of people who encounter credit dilemmas have been increasing each year. Inaccuracies not only damages bank records, but also the borrower or credit holder has to go through a series of steps to fix the problems. A bad credit history is a no-no; every borrower knows that because … (more) June 11, 2010

• How can I rebuild my credit?

  by Derek Brown

  Everyone and anyone are at the risk of falling into a financial rut through credits. Such situations entail disadvantages and inconveniences which include difficulty in getting future loans or being denied to get loans at all. Indeed, it may take a long time to regain the trust of creditors and … (more) June 7, 2010

• What are Important Measures to better manage your Credit Report and Credit Score?

  by Derek Brown

  Being able to read and understand your credit report is important for you to better manage your credit. Your credit score is not the summary of your credit worthiness, so by just looking at your score to gauge your financial health is not enough. On the other hand, understanding every … (more) June 3, 2010

• How Do I Fix Bad Credit?

  by Derek Brown

  Yes, it is possible to fix a bad credit report. Of course, fixing bad credit does not mean entirely eliminating the consequences corresponding to bad credit or totally reversing the situation. You would still have to deal with them. For instance, you may have extra difficulty signing up for loans, … (more) June 3, 2010