ID THEFT NEWS: WEEKLY UPDATE

Fair Credit Reporting Act Lawyers Help Identity Theft Victims Over 12 million people an identity theft victim every year.  The harmful effects of identity theft are life changing and last a lifetime.  Victims may not even know their identity has been stolen until they receive debt collection calls for debts they do not owe.  Others … Continue reading ID THEFT NEWS: WEEKLY UPDATE

ID THEFT STORIES IN THE NEWS

Over 10 million consumers a year become victims of identity theft. Fraud victims are denied credit, employment and housing due to credit report errors.  .  If fraud victims are approved for credit, then they have to pay higher interest rates!   Identity theft victims also get turned down for jobs because of arrests, convictions or other … Continue reading ID THEFT STORIES IN THE NEWS

OFAC ALERT – HAVE YOU APPLIED FOR CREDIT AND BEEN DENIED?

Have you applied for credit and been denied because your credit report had a OFAC alert?  Keep reading....An OFAC alert is an alert given to your potential creditors (landlords, car dealers, credit card companies) when your name matches a name on the Treasury Department's Office of Foreign Assets Control (OFAC) watch list.  The persons named on the OFAC list are … Continue reading OFAC ALERT – HAVE YOU APPLIED FOR CREDIT AND BEEN DENIED?

WHAT IS MY CREDIT SCORE?

Several factors influence your credit (also called your FICO or Beacon) score.  The categories of these factors include payment history, amounts owed, length of credit history, new credit and types of credit used by the consumer.  The importance of each category can differ from consumer to consumer based upon your their credit worthiness.  Payment history includes account … Continue reading WHAT IS MY CREDIT SCORE?

FICO reveals credit report damage points data

FICO, for the first time, has publicly disclosed the extent of  "damage points" data on consumers' credit scores (aka beacon scores).  The FICO disclosures gives consumers insight into how many points will be deducted from their credit score when they may out their credit card, or declare bankruptcy. According to FICO, a maxed out credit … Continue reading FICO reveals credit report damage points data

AVAILABILITY OF CREDIT LINES STILL IN DECLINE?

Meredith Whitney, a Wall Street banking analyst says creditors are continue to reduce credit lines to small businesses. Whitney states lenders will reduce credit card limits by $1.5 trillion by the end of 2010.  further she predicts, "the next phase will likely be credit-line cuts as lenders race to preemptively protect themselves from regulatory changes … Continue reading AVAILABILITY OF CREDIT LINES STILL IN DECLINE?