IS THE CREDIT SCORE YOU BOUGHT THE SAME CREDIT SCORE SOLD TO LENDERS?

Does the credit score you purchased differ from the credit score provided to creditors?  The Consumer Financial Protection Bureau (CFPB) says yes!  According to a CFPB study, 20% of the scores sold to consumers have a meaningful difference in score with the credit score sold to lenders.  The CFPB also concluded the difference in score may … Continue reading IS THE CREDIT SCORE YOU BOUGHT THE SAME CREDIT SCORE SOLD TO LENDERS?

HOW DO I DISPUTE CREDIT REPORT ERRORS?

The most frequent question I receive is - How do I dispute credit report errors?    The answer may not be what you think it is.  Most consumers think that they should dispute the inaccurate item to the company providing the incorrect information to Equifax, Experian or Trans Union, but that is not the best practice. … Continue reading HOW DO I DISPUTE CREDIT REPORT ERRORS?

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?

HOW DO I IMPROVE MY CREDIT REPORT IN 2012?

How do you improve your credit report?  You can improve your credit report – easily and almost for free!  Whether you are applying for credit, a job or insurance, your credit report can mean you get the job or you stay at the house!  Here are 3 easy tips to improve your credit report and … Continue reading HOW DO I IMPROVE MY CREDIT REPORT IN 2012?

ALABAMA RANKS NO. 15 FOR ID THEFT

The Federal Trade Commission ranked Alabama No. 15 IN 2010 last year.  In 2009, Alabama ranked 17.  The FTC maintains a database called the Consumer Sentinel Network and lists identity theft and fraud complaints. The FTC received 3,339 identity theft complaints from residents of Alabama last year. What state scored number 1 in the complaints … Continue reading ALABAMA RANKS NO. 15 FOR ID THEFT

HOW LONG DOES A TAX LIEN STAY ON MY CREDIT REPORT?

The length of time that a tax lien may stay on your credit report depends on the payment status of the lien.  Paid (or satisfied) tax liens may not be reported more than 7 years after the date of payment.  15 U.S.C. 1681c(a)(3).  Tax liens that are un-paid may be reported for more than 7 … Continue reading HOW LONG DOES A TAX LIEN STAY ON MY CREDIT REPORT?

HOW DO I GET A LOW INTEREST RATE?

Everyone wants to get the lowest possible mortgage rate -- so how do you go about getting it? 1.  Have Good credit The first thing is you need to have good credit -- that's a no brainer. The higher your credit score, the less interest you'll have to pay. One thing to remember about credit … Continue reading HOW DO I GET A LOW INTEREST RATE?

TRANS UNION MAKES $245 MILLION IN 1ST QUARTER OF 2011

Trans Union announced its 1st quarter revenue for 2011 - $245.9 million an increase of 8.3% compared 1st quarter of 2010. Tran Union's operating income was $55.1 million, an increase of 19.5 percent compared to 1st quarter of 2010. The net loss from continuing operations attributable to Trans Union for the first quarter was $25.4 million compared to income of $25.0 million … Continue reading TRANS UNION MAKES $245 MILLION IN 1ST QUARTER OF 2011

DOES MY LENDER GET THE SAME CREDIT SCORE I GET?

Consumers have the right to request (for a fee) their credit score from the three nationwide consumer reporting agencies, Equifax, Experian and Trans Union.  Is the credit score consumers receives the same score provided to lenders?  No, according to a recent Consumer Financial Protection Bureau (CFPB) report. In its July 20, 2011 report, the CFPB … Continue reading DOES MY LENDER GET THE SAME CREDIT SCORE I GET?

TELETRACK TO PAY $1.8 MILLION TO SETTLE FCRA CLAIMS

Teletrack, Inc. has agreed to pay $1.8 million to settle Federal Trade Commission's (FTC) charges that it violated the Fair Credit Reporting Act (FCRA).  The FTC  alleged Teletrack sold consumers' credit reports to marketers without a permissible purpose. According to the FTC complaint, Teletrack sold consumer credit reports to payday lenders, rental stores, and sub-prime … Continue reading TELETRACK TO PAY $1.8 MILLION TO SETTLE FCRA CLAIMS