Archive for category Credit Reports
Credit Reports – Are they going to be as important in the future?
Posted by admin in Credit Reports on January 30, 2012
Question by : Credit Reports – Are they going to be as important in the future?
I have to wonder, in this economy with foreclosures out the wazzoo. Do you think credit reports will be given the weight that had prior to the “Recession of ’08″?
Best answer:
Answer by Wayne Z
Yes….with one caveat. If the only negative on your credit report is a foreclosure, banks will probably overlook that in the future.But….if your bad credit is due to credit card or other personal loans, you will still have trouble getting credit in the future.
What do you think? Answer below!
I have all 3 of my current credit reports. How can I hire someone to look them over and tell me what to do?
Posted by admin in Credit Reports on January 24, 2012
Question by : I have all 3 of my current credit reports. How can I hire someone to look them over and tell me what to do?
My credit is horrifying. Unfortunately, it’s a little hard for me to understand my credit reports. I want to find out which items I can have removed or dispute.
Best answer:
Answer by Billy Shat
Go to your bank and have the personal banker look them over with you. They’ll do it for free.
What do you think? Answer below!
CREDIT REPORT BUYERS/PURCHASERS NEED TO KNOW THEIR RIGHTS AND OPTIONS
Posted by admin in Credit Reports on January 12, 2012
CREDIT REPORT BUYERS/PURCHASERS NEED TO KNOW THEIR RIGHTS AND OPTIONS
Article by Gcs-group
Over the past 40+ years it has become evident especially recently that many credit managers/buyers of credit reports have become complacent and far too accepting of mediocre credit report quality they seldom complain and seldon insist on better quality of investigations and information. ( the writers note aside could it be that the extra charges the agencys levy for proper correct current investigations are impacting this?) This frankly is to their peril, as the information they use has a huge impact on the credit decisions they are making.A credit report buyer has rights and should exercise them frequently. Those rights are:1.To insist on when the data/information in the report was aquired and when it was actually confirmed on what date and through what means.2.To insist if they are ordering/buying a complete credit report that all required areas of information on the business are covered. That being said those areas mean the following:Correct legal name of the business Correct current address of the businessCorrect contact numbers such as phone, fax, email etcCorrect number of employeesCorrect square meterage/footage of the occupised premisesCorrect sales volume figuresNumber of years the business has been in business date startedA complete description of what the business does trade it sells to trading area it sells in products it sells/servicesTrade payments experiences date they were obtained actual number of trade experiences, the actual high credits how do those high credits compare/relate to the amount the customer is asking for a line of credit. If the report does not contain a minimum of four current experiences it should be rejected and a reinvestigation should be done at no charge to the buyer.Correct number of legal actions (with assurance they are actually against said business) and not close matches. Details such as names of the defendant and the plaintiff, the amount of the action, is it being defended or not.Actual number of accounts placed for collection with similar details to legal actions included.Correct background and work history on the principals/owners going back at minimum of fourteen years.
If all of those requirements are not met then frankly you are not buying a credit report.
That does not mean to say, that in every case, every customer that amount of information is needed the amount of credit exposure you are considering may be very small, and perhaps less information is needed but if so, the price you pay for lesser amounts of information must drop accordingly, and plelase do not fool your self that you are using a complete credit report.There are many options for purchasing credit information in limited sizes, mainly those reports are called:trade payment reportshistory reportslegal reports credit score reportsconsumer/personal reportspredictive score reports.Lets explore briefly what each of the above reports normally contains and are they a good buy or not.Trade Payment Reports:These reports generally focus on trade payment experiences and in so doing, normally have more trade experiences and higher credits than the general purpose full credit reports simply because that is what they do and are generally good at it.In some cases the trade payment report will have correct demographic information plus indications of legal actions, collections etc. These reports are a good buy, esepcaily for credit grantors making quick low dollar decisions. Prices vary around the world.History Reports:Generally history reports include a brief summary of the principals/owners business expereince and education, detailing often times, other relationships they may have or had with other companies including companies they may have been in that failed. The history report should include specific details on the particular companys history, including incorporation date, dated commenced etc, and details as to whether the company is an outgrowth of a former business/company.Generally these reports are used, less so for serious credit granting decisions and more for acquisitions, merges etc.Legal Reports:Legal reports are essentially what the name implies, though at times the real content is less that expected. A legal report should contain all of the legal history on a business, including all court/legal actions registered against the busines, with special care taken that the business name on the action is exactly the same as the one you are requesting far too often close names are included which makes for very unfair and inaccurate decision making. Details specifically on the action must be there, i.e. plaintiffs name, defendants name, date action registeredd, specific dollar amount, and reason for the action – i.e. is it an insurance claim, is it for goods / services sold and delivered or perhaps employment dismisal related. Reports of this kind are available, but, a word of warning, it is not suggested any legal report is all encompanssing and should be taken in to consideration with all other information on the subject gathered. Credit Score Reports:Comments here will encompass all score reports and their prolifereation in to the market in the past fifteen years.Score reports can be a useful tool, but, only and we repeat only if there is depth and quality of informtion used to drive the score. Far too often one encounters scores such as payment scores with one or two or at best three trade experiences which are generally old and not representative of the size of the buisness being scored. This can and will be a costly mistake on the part of the user, if they do not investigate what information comprises the score. There are scoring systems and algorithms driven to reflect where the score number is high, but, actually the implied credit worthiness of the business is terribly low, and the reverse, so getting a complete understanding from the information provider as to how scores are arrived at,on what basis etc is vitally important.Generally credit score reports are sold at a very low ticket price which generally implies they are data base ready to use reports very good if you do your homeworkd and check on the validity of the score.
Consumer/Personal Reports:Our experience is that generally in north america, consumer/personal reports contain far more pertinent and comprehensive data than their business reports counterparts. The reason being is, the two/three major consumer beaureaus have been very successful in getting the co-operations and input from 99% of the consumer credit granting community in canada and the usa.Therefore it is seldom that much pertinent information is missed. Generally the consumer products in north america are quite sound and reliable. One should always though, question and review the report with the applicant, to ensure the data is up to date and relevant with no miss matched information included in a report. Prices due to heavy competition in north america are quite low and reasonably priced.Predictive Score Reports:Due to the fact that predictive scores are generally derived from score reports we refer you to the section on score reports and invite you to follow that same line of thinking. Caution is very important, depth and quantity of information is vital and if not there can be extremely misleading. The should be, how can scores, based on inadqueate data ever be relied upon to predict the future of a business or more importantly your customer. Frightening to say the least. A word on credit reporting agencys: therer are numerous global credit information agencys some of whom have been around for years and years a thought might be to question your marketing sales representatives as to where their particular agency is going in terms of actuall investment in their companys investigation dollars spent, say compared back over the past five years a good quesiton to ask. Another question may be what is their companys strategy in terms of acquiring information do they rely totally on the internet, and they unverified input from the business they are reporting on or do they actually have human beings gathering and seriously reading and verifying their information.Whatever means, whatever method your company and your department use, we respect the fact you are using thought, money and capital to manage your accounts receivable and credit risk. Use it wisely, as it is your thought, money and capital and is vitally important to managing the capital of your business.
About the Author
Neill Campbell CEO of One World Credit Services Inc. and GCS Partner located in Toronto Canada.
Related Credit Reports Articles
Get Your 3 Free Credit Reports Now, Did I Mention They were Free?
Posted by admin in Credit Reports on December 7, 2011
Get Your 3 Free Credit Reports Now, Did I Mention They were Free?
Article by Arielle Newman
Your credit report is available to you right now, you just have to reach out and grab it. The only thing that seems to me to hold people back is that they simply don’t know that the report is there for the taking, for free, right now. The Fair Credit Reporting Act (FCRA) is a Federal law which requires each of the Big 3 Major Credit Reporting Agencies to provide each and every American citizen with a free copy of your credit report, at your request. This law does not require you to have any reason other than curiosity to take a look at your report once every 12 months.What keeps people from actually taking advantage of this terrific federal law? It seems that the only thing keeping them from clicking on the website or calling the phone number or even sending a simple letter in the mail is knowledge. No one seems to realize that these credit reports are available for free at any time, all it takes is a little initiative and filling out a simple form. The Federal Trade Commission or the nation’s consumer protection agency, is assigned the job of enforcing the FCRA and making sure these Consumer Reporting Companies don’t treat us consumers unfairly.They are in charge of making sure to promote the privacy and accuracy of the information in the files of the Big 3 Credit Reporting Agencies. Your credit report contains information on where you live, how your bills are paid and even arrest records. The Fair Credit Reporting Act was established to help protect this private information, making sure it does not fall into the wrong hands.However, it seems that we are allowed to at least view our own information to verify it is accurate finally.The Major Credit Reporting Agencies were required by this law to establish a website, a toll free number and a mailing address with information and links to obtain these free credit reports. To order, you simply need to fill out a simple form and submit it in whichever form you desire. It is not possible to simply contact the consumer reporting companies and request it, you must go through the correct channels to get the report for free.You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order your report from each of the companies one at a time. The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months. However a credit score is not included.There is only one website out there that can actually help you to obtain the free copy of your report. However, many other sites are springing up claiming to offer a “free” credit report, but once you get down to the “fine print” it is easy to see that the “free” report is only good for a short time and in order to get the free report, you must subscribe to the site. It turns out that what these “imposter” sites are really offering you is simply a “trial period” after which you are charged on a monthly basis for these services and to still be able to view your report.This “free” service suddenly converts to one you have to pay for after a trial period. If you don’t cancel during the trial period, you are agreeing to let the company start charging fees to your credit card. Why do you think they would ask for your credit card number anyway, if they weren’t intending to charge it.In order to obtain your free credit reports, all three of them, from the site governed by federal law, you are not in any way shape or form required to enter any credit card information. Credit Report Repair can be done simply and by yourself with time and simple tools, you just need to know the right techniques. Obtaining your credit report is the first step to improving your credit score and fix your credit rating. Even the Federal Trade Commission has stated that “anything a credit repair company can do for you legally, you can do for yourself”.Go out and get your credit report now and you can start improving your score and fixing your credit. Knowing your score and what is on your report can help you to take the first step and begin your credit repair. You simply need the right program to help you to repair your own credit and a good education about credit score repair.
About the Author
http://freecredit-report.net
How can I pay bills when I can’t find a descent job because of bad credit reports?
Posted by admin in Credit Reports on November 25, 2011
Question by Mrs. O: How can I pay bills when I can’t find a descent job because of bad credit reports?
I am behind on bills, and needless to say I need a job. It seems I am up against bad credit reports when employers run an attribute check. I was not able to apply for a temp-to-hire job because of credit. I need a job to pay off bills but I am having a hard clocking finding work because of credit.
Best answer:
Answer by equal_opposites
Are you in the USA? I find it unusual that all the jobs you apply to are running credit checks on you. Criminal follow, yes. Credit check? Only if you are going to be handling company money or some other similar responsibility. If you are desperate, go toss burgers or deliver pizza.
What do you think? Answer below!
Young Dallas Entrepreneur to be honored Thursday at the White House
Posted by admin in Credit Reports on November 16, 2011
Young Dallas Entrepreneur to be rewarded Thursday at the White House
Dallas, TX (PRWEB) November 15, 2011
Eric Fortenberry, President and CEO of OrgSync, Inc., headquartered in Dallas, TX, has been named to the Empact100 list of the country’s top young entrepreneurs and will be recognized at the White House in Washington D.C. this Thursday, November 17th.
The Empact100 list recognizes the top 100 companies led by young entrepreneurs age 30 or younger and was created in partnership with the Kauffman Foundation, Opportunity International, Global Entrepreneurship Week, and the Startup America Partnership. The list was announced on November 3rd and candidates were judged based solely on reported revenue. Nominations were open to U.S. based individuals or companies that fulfilled the requirements of having all founders 30 years or younger as of December 30, 2011, and reported revenue over $ 100,000 in 2010, or 2011 to date.
OrgSync, a software-as-a-service platform, began as a niche product serving student organizations and now offers a comprehensive solution set for colleges and universities around the world. Its Campus Engagement Network provides each campus with a centralized platform that connects students with the organizations, departments, and programs at their institution. The Company’s mission is to empower students with the tools to get involved in campus life and become tomorrow’s leaders.
“When we first started out in 2007, in a five-bedroom house and a $ 40,000 revolving line of credit from my Dad, I cognize it would take dedication, hard-work and a great team to make OrgSync a standard in Higher Education,” said Mr. Fortenberry. “In only IV short years, we’ve relocated from Austin to Dallas, doubled the size of our corporate office, grown from two to 31 employees, and have partnered with more that 200 colleges and universities across the world.”
Both the success of OrgSync and the Empact100 list are testament to the impact young entrepreneurs have on the American economy. The 100 companies on the list are responsible for contributing more than 2,500 jobs and over $ 374 million in revenue this year.
To regard a live broadcast of the ceremony, visit http://www.whitehouse.gov/live between 2:30pm and 5:00pm EST on Thursday, November 17.
The full list of Empact100 companioned can be found here: http://empact100.com/list.php
About OrgSync
OrgSync provides a centralized Campus Engagement Network that connects students to organizations, programs, and departments on campus. The company’s cloud-hosted, software-as-a-service (SaaS) platform is built using the latest technologies that create an online community for colleges and universities and help improve communication, information sharing, and collaboration. The platform streamlines day-to-day operations, minimizes paper usage, increases student engagement, and tracks all co-curricular involvement data. Campuses may leverage the data collected in OrgSync to assess the impact of student involvement and co-curricular programming on overall student success and retention. To learn more go to http://www.orgsync.com.
About Empact
Formally known as Extreme Entrepreneurship Education, Empact has worked with over 400 colleges & universities, workforce development organizations, Chambers of Commerce, and Small Business Development Centers to help promote entrepreneurship among aspirant entrepreneurs. Empact aims to palliating mental and financial poverty by empowering individuals to live with passion, purpose, and prosperity through the entrepreneurial mindset. Learn more at http://www.iempact.com.
###
Attachments
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Clean Credit Report – Easily Raise Your Credit Score 100 Points.
Posted by admin in Credit Reports on November 13, 2011
Clean Credit Report – Easily Raise Your Credit Score 100 Points.
Article by Ryan Bailey
Your credit report associated with information about where we work, live and exactly how you pay your bills (On time or not). Moreover it may show whether you’ve been sued, arrested or have filed for bankruptcy with in the last 10 years. Companies called consumer reporting agencies (cra) on the other hand credit bureaus compile and sell your credit report to businesses all over the world. Whenever you apply for any type of credit or financing, a credit report is actually pulled from at least one of the three major credit bureaus. You want a clean credit report to be pulled. While there are countless smaller credit bureaus around the country, virtually every credit bureau is affiliated with either Experian, Trans Union, or Equifax. Getting Your Great Credit ReportIf you’ve been denied credit, insurance, on the other hand employment because of details supplied by a credit report generation agency, the FCRA says the company you applied to ought to give you the agency`s name, address, and telephone number. If you contact the agency for a copy of your report within 60 days of receiving a denial notice, the report is free. In addition, you’re entitled to one free copy of your report a year. If you simply want a copy of your report, call each credit bureau listed since more than one agency could have a file on you, some with different information. The three major national credit bureaus are: Equifax, P. O. Box 740241, Atlanta, GA 30374-0241; (800) 685-1111. Experian (formerly TRW), P. O. Box 2002, Allen, TX 75013; (888) EXPERIAN (397-3742). Trans Union, P. O. Box 1000, Chester, PA 19022; (800) 916-8800. Correcting Drawbacks For Clean Credit. To protect the rights under the law and to keep your credit great contact both the CRA and the information provider. First in order to clean impute reports, tell the credit reporting agency in writing what information we believe is inaccurate. Consist of copy (please keep your originals) of documents that support your position. In addition to be able to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the resources and explain why you dispute the information, and request deletion or correction. Always keep copies of the dispute letter. They must reinvestigate the items in question, usually within thirty days, unless they consider your dispute frivolous. They likewise must forward every one relevant data you provide the dispute to the details provider. After the information supplier receives notice of a dispute from CRA, it must investigate, review all relevant information provided by the CRA, and report the results into the CRA. If the information provider finds the disputed information to be inaccurate, it must notify every one nationwide CRAs so they will can correct this information in your file. Disputed details that cannot be verified ought to be deleted from your file, then you will recieve a clean credit report, with that item removed. If your report contains erroneous information, the CRA must better it(clean credit). If an item is incomplete, the CRA must complete it. For example, if your file showed which you were late making payments (30 days or more), but failed to show that you were no longer delinquent, the CRA must show that you’re current. If your data shows an account that belongs only to one other person, the CRA must delete it. When the reinvestigation is complete, they must give you the written results and also a free copy of your clean credit report, if the dispute results in a change. If the best item is changed on the other hand removed, they cannot place the disputed information back in your file unless the information provider verifies its accuracy and completeness. Also, if we request, they must send notices with clean credit report corrections to be able to anyone who received your report in the past six months. Job applicants can have a corrected copy of their clean credit report sent to be able to anyone who received a copy during the past two years for employment factors. If a reinvestigation does not resolve your dispute, ask the CRA to include your statement of the dispute in your data and in future reports. Second, besides writing to the credit agency, tell the creditor on the other hand other information provider in writing that you dispute an item. Again, contain copies (please not originals) with documents that support your position. Many providers specify the best address for disputes. If the provider then reports the item to any credit reporting angency, it must include a notice of your dispute. In addition, while you are correct that is, if the disputed information is not very accurate the information supplier may not use that again, thus you will have a clean credit report. When down sides information in your report is actually accurate, only the passage with time can assure its removal. Accurate negative information can generally stay in your report for 7 years. .
About the Author
http: //mycredit–report. com.
Q&A: How do I dispute accurate negative info on my credit reports?
Posted by admin in Credit Reports on November 4, 2011
Question by shygirl: How do I dispute accurate negative info on my credit reports?
I have paid collections accounts on my credit reports I know there is a way to remove them or dispute them without having to wait 7 years. Does anybody know how? or where could i get sample letters?
Best answer:
Answer by nojoke
check out the site
Know better? Leave your own answer in the comments!
The Search For What Is a Good Credit Score: The Credit Community Offers Its Answer
Posted by admin in Credit Reports on October 18, 2011
The Search For What Is a Good Credit Score: The Credit Community Offers Its Answer
Palouse, WA (PRWEB) October 12, 2011
Palouse Credit Consulting, known for its fresh approach credit repair program where you only pay after you see the results, is today announcing their newly released credit repair guide, “Your Credit … Only Easier.”
“This is a free eBook to help you better understand your credit, and what exactly makes your scores go up or down,” said Grant Presol, credit consultant/owner of Palouse Credit Consulting and creator of the website http://www.thecreditcommunity.com.
Among the contents of this ebook, readers will find information dealing with…
How to get a truly free credit describe How to ADD a new trade line Credit Report Dispute Strategies, and much more.
Palouse Credit Consulting credit repair program includes credit bureau disputes, as well as comprehensive counseling services. “Our credit repair program is ideal for anyone interested in existent, honest and lasting credit improvement,” said Grant.
In a clocked where Americans are asking “What is a good ascribed score?” there doesn’t seem to be a clear answer. “I’ve worked with many clients, and the major concern is what is “good adequate” when it comes to a credit score? There’s no short answer to that question, so I decided to build TheCreditCommunity.com to try and answer that question in detail,” explained Grant. “There’s too many “too good to be true offers” out there. I wanted to provide a website with free answers, gratuitous guidance.”
Consumers are looking for responded about their credit in many unlike industries. The auto industry, mortgage lending industry, even the insurance industries. In some cases, a credit score has an impact on insurance rates or even future employment. “Your credit score is an amazing money saving tool, a wealth building tool, as well as a life building tool. You should acquiring about it, and utilize it to its fullest.” said Grant.
For further information about the advantages of repairing credit scores by yourself, or to get some credit repair guide tips that could help you facilitate repair of credit hit, please contact: Grant Presol, Credit Consultant/Owner, 509-878-1444, grant(at)thecreditcommunity(dot)com, or visit TheCreditCommunity.com.
###
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Equifax Credit Report – Obtaining and Monitoring Your Credit Report
Posted by admin in Credit Reports on October 17, 2011
Equifax Credit Report – Obtaining and Monitoring Your Credit Report
Article by Carmelo Faulkner
What is a company that I can use to pull merged credit reports?
Posted by admin in Credit Reports on October 6, 2011
Question by Ms Lovely: What is a company that I can use to pull merged credit reports?
I am starting a credit repair business and it is a bit irritating to read 3 separate credit reports. I want to find a business that I tin hire to run all three reports and charged on a case by case basis.
Best answer:
Answer by siriusb23
To do so legally, you’re going to have to get consumers to request their own consumer disclosure version to share with you. These are not offered as a tri-merge report. You cannot buy from a tri-merge reseller, because you wouldn’t be able to use the data with the consumer in any way (bureau > reseller > you > consumer.) You can’t buy from the bureaus directly because they won’t work with credit repair businesses, because they’re basically a dying fad and a scam for the most part. They will do business with non-profit credit counseling businesses, in certain cases.
Know better? Leave your own answer in the comments!
Credit report
Posted by admin in Credit Reports on September 29, 2011
Credit report
Article by James
CREDIT REPORT
Definition:-Credit report is Personal file that contains factual records of consumers credit activities which are used by potential lenders to evaluate your credit reliability.Credit report reflects variety of information about your credit history like your open and closed loan accounts, credit balances, history of payments etc.
Credit reports contain following information about you:
Identifying information:- Your credit report contains information that identifies you, including the following: Your name Your social security number Your current address and previous addresses Your phone number Your date of birth Your current employer and previous employers This information helps ensure that your credit report is accurate and doesn’t mistakenly include details around another person perhaps same name.Public record information:- Your credit report lists any items that may affect your credit, including:Court judgments, including child support judgments Tax liens Bankruptcies It is generally gathered from local courthouses. This information is used to determine if you have previous defaults or legal judgments against you. Information showing a critical or disrespectful attitude can generally remain on your credit report for up to seven years, except for bankruptcy information, which may be reported for 10 years.
Credit history information:- Your credit report includes your history of bill paying with lenders such as:Banks Mortgage companies Retail stores Finance companies Here negative information astir your credit relationships, such as late payments or defaults, will remain on your report for up to seven years, and bankruptcy information may appear on your report for 10 years.Inquiries: - Your credit report lists the lenders and credit grantors that have requested or received your credit report. A better general rule is to have fewer inquiries on your credit report. Inquiries typically can remain on your credit report for only two years.
What is 3-in-1 Credit report?3-in-1 credit report (also called a 3 agency credit report or a 3 bureau report) provides your credit history as reported by all three Bureaus i.e. Experian credit bureau, Equifax credit bureau, and TransUnion credit bureau)3-in-1 credit report will contain: Your details of every credit card opened in your name. Your details of every loan opened in your name. Your complete breakdown of payment history. Complete information of all the companies that have reviewed your credit report. Comparison of the information on each of the credit reports from the three credit bureaus.
3-in-1 Credit report is better than single credit reportThe credit bureau companies are independent of each other and do not share any information, so the personal and financial information that is contained in one credit check agency is not the like as the personal and financial information contained in the others; therefore, By obtaining a 3-in-1 credit report, you will be cognisant of any information a potential lender can see concerning your financial history.Also, because up to 70 percent of credit reports contain errors of some kind, experts recommend you get a 3 bureau report to ensure all errors are captured.
About the Author
James is credit Counselor who has more than 5 years experience in Debt and credit counseling,Credit settlement, credit score etc.He also writes copy for brochures.This article is aboutcredit report. It also discusses the Annual credit report.
Q&A: What is a good web site for credit reports?
Posted by admin in Credit Reports on September 28, 2011
Question by M: What is a good web site for credit reports?
I just got a new job in finance, I have to learn how to read credit reports to decide on loans. I understand some things on a credit report, but I would like to find a website that breaks them down for you…..any ideas?
Best answer:
Answer by gaya.0001
creditreprts
Add your own answer in the comments!
CREDIT REPORTS!!!!!?
Posted by admin in Credit Reports on September 13, 2011
Question by Concern Citizen: CREDIT REPORTS!!!!!?
When you have a judgement from an auto loan(Ford Motor Credit), can they also have a “running tab” more than the judgement, i.e- Judgement amount 18,000.00 and the same company joined with a collection agency for 28,000.00 and 4.75 a day interest! I was under the impression once they have a judgement that is it. Please advise
Best answer:
Answer by bdancer222
Judgments have a statutory interest rate. Check your state: http://www.bcsalliance.com/statute_of_limitations_on_debt.html. You also might have legal fees tacked onto the original debt. But the longer you wait, the more interest will accrue.
Know better? Leave your own answer in the comments!
It Pays to Be Aware of Your Credit Reporting Rights
Posted by admin in Credit Reports on September 9, 2011
It Pays to Be Aware of Your Credit Reporting Rights
Article by Sergei Lemberg
Negative information on your credit report can harm you and impact your life in many ways. Creditors and debt collectors don’t always play fair when it comes to the items they report to agencies. The Fair Credit Reporting Act sets out certain credit reporting rights that are important for you to cognize and understand.
Your credit report contains a great deal of personal, private information about you, information gleaned from many sources. That collection of information can greatly impact your life in many ways. It may determine whether you get a job or are accepted as a tenant in an apartment you desire to rent. It determines whether you get a credit card, auto loan or mortgage, and how much interest you’re charged for it.
One of the places that consumer credit agencies like Experian, TransUnion and Equifax – the three largest reporting agencies in the country – get their information about you is through reports made by your creditors. Because your credit score has such a big impact on your life, there are laws regarding how your report tinned be used, who can access your report, what tinned be listed on your report and what you can do if your report contains erroneous information. The Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act, commonly known as FCRA and FACT, also provide penalties for debt collectors who falsely report negative information about you and for those who improperly use your report. They also provide tool that allow you to check your credit report at no cost under specific circumstances.
Your Right to Know
You have the right to know what’s in your report. Under FCRA and FACT, you have the right to receive your report free of charge from each of the three major credit reporting agencies once each year.
If you’ve been denied credit, turned down for a job or refused insurance because of something in your credit report, you have the right to request a free copy of your report within 60 days of being told you were denied. The credit card company or other entity is obligated to tell you on which report they based their decision so that you can request the right report.
You also have a right to know when a creditor, debt collector or other reporter sends negative information about you to a consumer reporting agency. Under FCRA rules, creditors must inform you before they report negative information to a reporting agency. But that notice doesn’t have to be separate. It’s enough for them to include a statement on a bill or other communication stating that the company may report information about your account to consumer reporting agencies. They must also notify you within 30 days if they report negative information about you to a consumer reporting agency.
Disputing Inaccurate Information
Consumer research says that 70 to 80 percent of all credit reports contain inaccurate information, and that 25 to 30 percent of reports contain inaccurate information that can make it difficult to get credit or a good interest rate. That inaccurate information may include such things as old credit lines that you no longer use, outdated information that should have been removed from your credit report because of age and inaccurate information reported by debt collectors. Any of that information can have a serious impact on your credit. That’s why it’s important to check your credit report regularly and to dispute any inaccurate information that you find.
If you find inaccurate information on your credit account, you should notify the consumer reporting agency that you dispute the information. The ascribe bureau must investigate your dispute and require the entity that reported the information to prove the accuracy of their report. If the creditor finds that you’re right, they must notify all three credit bureaus of the error and make a correction. If they refuse to do so, you can request that the credit bureau include a letter of dispute from you with your ascribe report and send a copy of your letter to anyone that requests your credit report.
In addition, there are special provisions for those who have been victims of identity theft or fraud, and rules about who must get your permission before accessing your credit account.
If you believe that a creditor has falsely supplied information about you to a credit bureau, or that your described has been accessed or used improperly, it’s important to fight hind. There are fair credit lawyers who will help you file a federal lawsuit for violations of the FCRA. If your suit is successful, you may receive a judgment for actual damages or between and ,000, as well as court costs and attorney fees.
About the Author
Sergei Lemberg, Esq. is the Principal of Lemberg & Associates, a law firm specializing in fair debt collection law, NY lemon law, and other consumer law.
Because of Identity theft, a man is forced to work in fish food restaurant and where a steal suit. He and fellow scallywags sing about it.
Related Credit Reports Articles
How can I remove paid collection items from my Credit Reports?
Posted by admin in Credit Reports on September 4, 2011
Question by uncg_girl: How can I remove paid collection items from my Credit Reports?
There are several items on my credit report that were in collections but I paid them. They also indicate that they were paid in full/closed on my credit reports. However, If I mail receipts of these paid collection items to the 3 credit bureaus can I ask them to remove that collection information? Would they be able to delete that information since the account was paid?I was told that since they were paid that they were void anyhow. However, I would like to have them removed. What if I dispute them? Can you challenged paid items on your report for removal?Thanks in advance
Best answer:
Answer by Flower Girl
You can’t have them remove, thet can stay there for 7 years! That is why you should have paid your bill when it was due!
Add your own answer in the comments!
Credit Report questions and answers
Posted by admin in Credit Reports on September 3, 2011
Credit Report questions and answers
Credit Report Advice?
I was checking my credit report because a college I applied to have information stolen. On my credit report was an unpaid medical bill. This be not my fault. My insurance company didn’t retribution the bill because they weren’t convinced I was still a student. We faxed them the required documents and they said everything was fine. We call the doctor and they were supposed to rerun the bill. They didn’t and after sent it to a collection agency. I didn’t get the mind they did that until after the month I had to contest it. I enjoy tried to get them to re-run the bill next to my insurance and they won’t take my call or call me put money on. Now I have this blemish on my report. Should I try and contest it, a moment ago pay it and hold be marked salaried, explain it, or just pay no attention to it. The bill is for 7. The only other item I have is my credit card, which shows no behind schedule payments.Thanks!
Credit report and collections frustration!?
Okay … I have a handful of bills from assorted companies in collections. I am getting married and will soon hold a bit of money to pay some of these things rotten … The problem is I can’t locate some of the accounts! 
Just for ONE company, I have call them 3 times and have be to 3 different collection agencies and make 4 more call … and NOBODY has my statement! Basically there is zilch anyone can do … SO … my question is, what does a credit report contain, can I bring on for free, and is there a course I can get a report of adjectives of the bills, companies, and amounts that are currently affecting my credit score? HOW and WHERE? I live surrounded by MA, if that helps … Thanks!
Credit Report Duplications?
Greetings all,I not long viewed my credit report and I see transactions that may own been sold to and another company 2 and sometime 3 time over. How do i bring the previous sold one removed so I know which one to pay sour.Thanks
Credit report fraud “flags”—is at hand an irrevokable or long possession one?
A family contestant was just now a victim of identity burglary and since he is related to me, there is an accident some of my info could have be acquired. I be offerred a 90 day flag on my credit reports but someone at work mentioned that a few years put money on, they had a more long permanent status “flag” or something wish that put on their credit reports to support prevent identity theft. Does anyone know anything roughly this? The credit accounted agency said 90 days should be enough, but I am skeptical.
Credit report grill?
Is it true that when you dispute an item on all 3 bureaus, that if one delete it, the other 2 have to as rattling well? Also, how long does it move to bring your evaluation up if it’s deleted?
Credit Report HELP?
I obtained a credit report for myself and matching Credit company reported the same point 10 times on my report. is this against some genial of imperative? anthing i can do. I have call them many time approach no help.
Credit Report LVNV?
I’ve seen adjectives these postings about LVNV and I wear’t know how to commenced. I checked my credit reports and they all record a debt to LVNV for a collection from a Sears account. The strange entity is that I opened two Sears accounts surrounded by the past and enjoy ane in current repayment. The two Sears account currently appear contained by my electropositive, never late piece and the 1 in current repayment is down nowhere in my reports. It have never been behind time and the was number contained by no way match the one LVNV is stating as part of the collection. Do I dispute this as ID mugging to LVNV or forego speaking to LVNV further? I am confused.
Credit Report Need Help Getting One?
I’ve tried Free Credit Report.com and annual credit report and they both didn’t give me one. I requirement a phone # for one of these places because I’m try to pay it past its sell-by date ASAP.
Credit account problems, freeze on my tale? Fraud alarmed?
I went to AnualCreditReport.com for a free credit report. My fiance and I are going to be going to the form to look into a mortgage, and I figured presently would be the best clock to act a look at my credit report. I own had a credit card since 2005 and I pay packet it off pretty practically as soon as I use it (sooner than the “earnings by” date)..So I think i’ve get to have wearing clothes ascribing.After filling out some information on the annual credit report placed I select to run through equifax to get my report. WELL something popped up maxim that It looks like a bonded be taken out in my entitle in May of 2003. !?! In May of 2003 I have just turned 16! I couldnt made peradventure taken out a bonded! It asked me to pick what lender i went through for the mortgage and obiviously i picked none of the supra, and afterwards it asked me what my monthly scheduled clearing for that lender is and AGAIN i picked none of the above. (because I dont have a mortgage, nor do I reward one every month.) more coming…
]]>
Credit Report Question?
I have roughly speaking ,000 of deliquant accounts on my credit report. 2 of those are credit cards and the others are just irregular bill.If I pay adjectives of those off how long will it whip for them to come off my credit report so I can start making my credit break? I dont want ANY criticizim at adjectives! Just help. I be never told the importance of credit…Now that im 22 I immediately know! and want to do it better. Please impart me advice on making it better also if you can. Thanks
Credit Report Question?
If someone runs my husband’s credit report, will my name and/or credit report automatically pop up or would I truly have to be on the application?Also, would his credit report show his nuptial status?(I’m in the US.)Thanks!
Credit Report Question?
so in 2001 i bought a motor2003 filed chapter 13 bankruptcy- vehicle repo’d due to nonpayment but got it stern through bankruptcy 2006 the liquidation was dismissed and sports car repo’d again (i was self a stupid kid)so now it’s 2008…7 years from the time i bought the car but since it be in a bankrupcty that be dismissed 2 years ago.(but the car loan is not showing on my credit report as surrounded by bankruptcy) how many more years will it be on my credit report?
Credit Report- Questions just about bosting my evaluation…?
So I have 2 plain credit card accounts. One has a restriction for and the other has a credit cut-off date. Well, I applied for another card which has a credit bound. I am looking to close my credit limit justification bc of the high interest rates and a too glorious yearly article fee. I pay packet off my cards at the appendage of the month, so they do not carry a match, so I am not worried about have to transfer a stability to the new card.I am only wondering what looks better on my credit report, an account that have been depart for almost 1.5 years that has no go together but a limit, or a brand new account that have a limit?I of late recently rewarded off my cards, so at hand is a possibility that in the adjectives they will carry a go together, eventhough I am going to try to pay them sour every month. This is why I am looking to get rid of the factor card bc of the monthly account charges, once a year account levy, as good as the gargantuan interest.Any thoughts?
Credit report report quiz.?
i eventually got 1 erraneous item big my credit report from one credit reporting agency. Does the agency have to intercommunicate the other two agencies or do i throw to do the process all over again for the other two agencies?
Credit Report Reviews?
Credit Report Reviews?http://www.creditreport-s.blogspot.com Here Is A Great Review Site On Credit Reports.Can anyone say me other righteous credit report sites that review credit reports. Credit reports and gratuitous credit reports.What are the diffrences between these gratuitous credit reportsand not gratuitous credit reports. ID too like to swot more about costless credit reports and not gratis credit reports. THANK YOU
Credit Report shows “KD” for 4 months, can it be removed?
My last apartment complex have a bill out against me that I didn’t know still existed. My soon to be ex husband never payed it. Is there something I can write to the collection company to enjoy it removed if I pay? Will I want to pay adjectives of it or should I start at a different %? The most important piece to me right now is have that removed, it dropped my score roughly 70 points!
Credit report unknown grades?
You know on your credit report it will say OK, 30 days, 60 days etc…And when, for doesn`t matter what reason, it have a X instead of ok. I guess this means they aren’t sure? Does this negatively affect your gain? Should I demand it be corrected? Would give the impression of being to me they know if I made the payment or not. And if they don’t know, later they are obligated to say OK as it can’t be verified
Credit Report. online?
I would like to capture a credit report online instantly, have you tried this back, did you like the results, and which company did you use? Thanks!
Credit report?
hello everyone, i just looked at my cred
Got A Scary Credit Report? NationalCreditReport.com Provides Tips For Consumers
Posted by admin in Credit Reports on August 28, 2011
Got A Scary Credit Report? NationalCreditReport.com Provides Tips For Consumers
Delray Beach, FL (PRWEB) October 24, 2010
Even though Halloween is right around the corner, some people find themselves more frightened by their credit report than this season’s ghouls, ghosts and goblins. NationalCreditReport.com, a leader in credit report, credit score and monitoring services, advises consumers that they don’t have to be scared when they check their credit report by following a few tips that can help them get a good credit score.
“With the economy still struggling to recover, this is a frightening time for many people who have obtained their credit report and seen a drop in their credit scores,” stated Samuel S. Ambrose, Vice President of Marketing and Operations of NationalCreditReport.com. “Luckily, by following a few simple steps, they can work to get a good credit score and bring their credit report back from the dead.”
Steps consumers should take to get a good credit score:
1. Obtain your credit report by simply participating in an offer to request an attribute report online, like the offer available at NationalCreditReport.com. Consumers are advised to review this accounted carefully to get a complete understanding of their credit report score and to check it for accuracy.
2. Know what a credit score is and its impact on one’s everyday life. A credit score is the particular numerical value that potential creditors and lenders use to decide whether to grant a loan or assign as well as determine interest rates. Since whether or not the consumer obtains funds hinges on this score, getting a good credit score is very important.
3. If a consumer finds any inaccurate information on their credit report, they should not be frightened to bring these misrepresentations to the attention of Experian™, Equifax™ and TransUnion™, the three major credit reporting agencies to clear up the inaccuracies.
4. Begin to pay cancelled monstrous credit card debt. Making on-time payments to begin paying pop one’s credit card debt also helps their credit score by lowering the percentage of credit utilized.
5. Consumers should regularly to be aware of any changes in their credit report or score. This should be done at least quarterly to see if there have been any unexpected inquiries or lines of imputed taken out in their call and that what is being famous in the report is accurate. Obtaining one’s own credit report does not negatively affect their credit score.
At the company’s website, http://www.nationalcreditreport.com, consumers tin sign-up for a free credit score, seven-day trial of its Triple Safeguard Credit Monitoring™ service. The company also offers consumers the opportunity to purchase their credit report and score for one low price with “no strings attached.” Interested customers can visit http://www.nationalcreditreport.com/nostringsoffer to check their credit report and tallied without being enrolled in a credit monitoring service.
About http://www.nationalcreditreport.com
Since 2004, NationalCreditReport.com has specialized in providing credit information and credit monitoring services to consumers to help them understand their credit report and score. NationalCreditReport.com encourages consumers to check their credit report on a regular basis.
Contact:
Allison Tomek
NationalCreditReport.com
561-805-8000
# # #
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.