What is a Credit Bureau? Credit reporting agencies are companies that compile detailed financial information on consumers from various sources. The information collected is put together into a credit report. When the consumer seeks credit, businesses then contact credit reporting agencies to obtain credit reports to assess the consumer’s financial health. These credit reports …
The holiday shopping season is, under normal circumstances, a big stressor on the wallet. But this year proposes to be even more difficult than in years past, given that the global COVID-19 pandemic has led to massive job losses and financial hardships for people far and wide. Although the federal CARES Act offers some flexibility …
Continue reading Protecting Your Credit During a COVID-19 Holiday Season →
Unfortunately, many people do not learn about the importance of having accurate listings on their Credit Report until it is too late. Perhaps this describes you:
What do all of these things have in common? A business that misleads its customers through false advertising. A group of people who try to set up a pyramid scheme. An auto dealership that winds back the odometer before selling a used car.
Credit report errors happen more often than most of us would like to think. The Consumer Financial Protection Bureau has listed credit report errors as one of the top complaints filed. Believe it or not, one out of every 20 of us have errors on one of our three major credit reports.
It’s not enough stress to have your car repossessed, but the consequences — collection contact and negative credit reporting — can be too much to bear. Car repossessions carry negative weight to a credit report for 7 ½ years from the date it was first reported as late by the lender. Credit scores may drop …
Continue reading How Long Does it take for a Repossession to come off your Credit Report? →
Just as a yearly check-up with your doctor is good for your physical health, taking an annual look at your credit report is good for your financial well-being. Consumers are entitled to receive one free copy of their credit report every 12 months from each of the three main consumer reporting agencies – – Equifax, …
Credit reports must be kept accurate because they affect so many aspects of our lives. Yet errors on credit reports are common. The Federal Trade Commission has conducted studies that show errors may continue to appear on a credit report, even after they’ve been disputed.
“Abuse.” “Dishonest.” “Fraud.” “Racketeering“. These are the type of words you’d expect to see used to describe an organized crime family, not a company claiming to provide clean, renewable energy. Nevertheless, this was the language New Mexico Attorney General Hector Balderas used in filing a civil complaint against Vivint Solar, accusing the company of deceptive …
Continue reading Help! A Solar Company Forged My Signature on a Contract →
Your credit report contains quite a bit of information about your financial history. It includes personal information, all of your open credit accounts and whether or not they are in good standing, and any negative marks, such as accounts in default or vehicle repossessions. Due to the sensitive nature of this information, not just anyone …
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