How do I correct a mistake on my credit report?
Everyone should take advantage of their right to obtain a FREE credit report for themselves, every 12 months from each of the three credit bureaus. This is the only way you can monitor your own credit file, without paying high fees to a credit monitoring service. Although the FREE credit report will not include a credit score, it will let you view any negative information included in your file. If the negative information is true, complete and accurate, then you can take actions to start improving your credit situation. Read more
Foreclosure stigma haunts would-be renters
As if losing a house on the court steps wasn’t enough, some former homeowners may fiand themselves turned away by apartment owners spooked by the foreclosure history on their credit reports.
CreditReportBlog.com sympathizes with individuals hit with such a dreadful experience as foreclosure on their home. Along with bankruptcy, foreclosure can be one of the most devastating experiences in one’s life. Being forced out of your home, can cause enormous stress, shock, and even depression to an otherwise content person. Read more
Looking for a job? Clean up your credit report.
Julie Lawrence interviewed for a job in March. Lawrence believed the company was going to make her an offer after a background check. She was unaware that included a credit check.
CreditReportBlog.com would like to advise its readers of the importance of maintaining a clean credit report for so many reasons, other than the obvious. Not only are lenders looking at your credit reports, but these days other parties that you would not have thought of, are also peering into your credit records. Read more
Can you get a Business Loan with BAD CREDIT?
Getting a business loan with bad credit can be very difficult. Banks will not even entertain the idea of lending to a business with bad credit, so you are better off not wasting your time there. Fortunately for some business, there are institutions out there that will approve bad credit applications for a business loan. At the same time, they will charge substantially higher interest rates for making these loans to a high risk client and will require substantial collateral from your business or personal assets. Read more
Tech offers students interest-free loans for bicycle purchase
The Tech Outdoor Pursuits Center has initiated a new program that will allow students to receive a $500 interest-free loan for one year, so they can buy a bicycle.
http://media.www.dailytoreador.com
CreditReportBlog.com commends the Tech Outdoor Pursuits Center in its initiative to promote this program. This program has so many good purposes that we would highly recommend every educational institute in the country try to adopt a similar program. Read more
Getting a Loan with BAD CREDIT
There was a time when having bad credit was like having some type of incurable disease in the eyes of lenders. No creditor wanted to touch anybody that had a low credit score, no matter what the circumstances. Lenders did not care what may have happened in a person’s life that got them to the terrible point of having bad credit. Creditreportblog.com finds that this attitude among lenders has really started to change in the past few years. They have started to understand that sometimes circumstances come up in life that are sometimes beyond our control, and a person who once had very good credit makes some bad decisions and ends up with a terrible stain on their credit report. Read more
The Fair Debt Collection Practices Act
Although you may have defaulted on your loans and owe creditors their money, remember, you do have the right to be treated fairly by the collection agencies. Creditreportblog.com feels for its readers who are frustrated at being hounded by these collection agencies, leading to a lot of stress in their daily life. In order to keep these aggressive collection agencies in check, the Fair Debt Collection Practices Act was put into place. This act applies to those who work on behalf of creditors to collect outstanding debts from individuals, such as unpaid car loans, mortgages, credit cards, and medical bills. Under this Act, there are certain guidelines that the collection agency must adhere to. Read more
“Freezing your credit report?”Good idea?
Credit Report Blog (Creditreportblog.com) frequently gets this question about the idea of “freezing your credit report”. However, there are still many who have not heard of this new concept of limiting access to the credit report. The credit report is a key tool and essential part of the decision process of lenders on whether or not to extend credit to individuals. In the wrong hands, however, the credit report can also be the tool used by thieves to cause much financial damage to someone. As a result of the rise in identity thefts across the country, this option of freezing a credit report has come about. Read more
Settlement results in free credit monitoring service
You can sign up today to receive free credit monitoring services from the credit bureau TransUnion due to a settlement the company reached on a class-action lawsuit.
Credit Report Blog.com would like to advise all consumers that a settlement has been reached in the class-action lawsuit filed against TransUnion Credit Bureau. The lawsuit was filed because TransUnion irresponsibly sold customer information in the form of marketing lists to other businesses. TransUnion denied any wrongdoing, while at the same time, stating that they had stopped the practice as far back as 2001. Read more
What to look for in a CREDIT COUNSELOR
At Credit Report Blog (Creditreportblog.com), many readers write in about having heard of credit counseling agencies and ask whether they really are helpful and even make sense to hire, when you are already up to your neck in debt. People think of the services of a credit counselor as another bill to pay. If you are one of many Americans living paycheck to paycheck, worried about calls from debt collectors and not being able to work out a suitable repayment plan, then a credit counselor could be the answer. However, you have to be very careful when choosing a counseling service. Many credit counseling organizations claim to be non-profit but actually end up charging high fees that are sometimes hidden or suggest solutions that cause the person to go deeper into debt. Read more
How is your CREDIT SCORE calculated?
Well, it’s just a mathematical formula. It’s based on information contained in your credit report which is compared with millions of other people. The resulting number is in indication of how likely you are to repay your debts. The higher your number is the better deals you will get with lenders, in terms of types of plans offered and interest rates. Credit scores are used extensively by lenders when determining what rate you get for a mortgage, car loan, credit card, or auto insurance. There are many different kinds of credit scoring models used by lenders to determine credit worthiness of potential clients. Read more
Bankruptcy and your credit report
We at CreditReportBlog.com get this question asked pretty often by our readers: Is it a good idea to file bankruptcy to get rid of our debts? Well the answer is not a simple one. With the economy in shambles these days, more and more Americans are looking at filing for bankruptcy as the only alternative left to get themselves out of a bottomless hole of debt. However, before you go ahead, you must be made aware of the terrible stain filing bankruptcy leaves on your credit report. Read more
U of U medical records stolen, 2.2 million patients’ data at risk
University of Utah Hospital and Clinics patients are bracing for the unknown as police and prosecutors investigate the theft of 2.2 million billing records filled with personal information.
Authorities say the records, stolen out of a courier’s personal vehicle earlier this month, put the private data of patients from the past 16 years at risk.
Credit Report Blog – It’s amazing how an incident like this can lead to astronomical financial damage for every one of those 2.2 million patients. Hospitals and any other organizations that hold such sensitive information need to take responsibility and re-think their procedures so that these mishaps do not happen. The good thing is that the U of U is taking the right steps in offering free credit monitoring services to all patients whose social security numbers were compromised. Read more
Hospitals Peer into Patients’ Credit Reports
Financially squeezed by shrinking reimbursements and expanding uninsured patient rolls, some Atlanta hospitals are using tools to peek into patient credit reports to gauge their ability, and willingness, to pay medical bills.
***Credit Report Blog***Timely medical care is something that should not be denied to anyone, regardless of their ability to pay or not. How can we claim to live in a civilized society, if only people who can afford medical care are given it? This is exactly what we are headed for if the medical establishments are given an opportunity to look through a person’s credit history before they provide treatment. This is a given, whether they admit it or not. Healthcare in the United States is just ridiculous! Read more
Take Charge America Offers Financial Tips for Engaged Couples
“Before couples wed this summer, they should take a step back and discuss all details of their financial past and future,” said Mike Sullivan, director of education and “Budget Doctor” at Take Charge America. “The scary fact is that the number one cause for divorce is money, so determining financial compatibility should be at the top of every busy couple’s to-do list.”
***Credit Report Blog***Finances can be the root of most arguments in a marriage. It is very important to lay down all your cards right from the get-go if you want married life to be as blissful as you have dreamed it will be. Wives and Husbands to-be need to sit down and share with each other what their financial goals are after marriage. Read more
Thieves steal $22,000 using credit card of U.Va. Professor
Identity thieves in New York had opened a checking and savings account in Grant’s name, aided by his Social Security number and a fake New York driver’s license with his name on it. Using an online banking feature of the fraudulent checking account, the thieves hijacked Grant’s existing Bank of America credit-card account.
***Credit Report Blog*** After reading about this incident, it is apparent that no matter how safe you think you are or no matter how many precautions you take, identity thieves still manage to do what they do best—severe financial damage to their victim. In the professor’s case, after finding out that his personal info may had been compromised, he took all the right steps that he thought would save him from becoming another powerless victim of identity theft. Read more
Experts say consumers can minimize fraud risk
One of the surest ways to protect against new account fraud is to place a security freeze on credit reports, which consumers can do for a one-time fee of about $10 to each of the three major credit reporting agencies, according to Paul Stephens, director of policy and advocacy for the San Diego-based Privacy Rights Clearinghouse, a nonprofit consumer advocacy group on privacy rights.
http://www.signonsandiego.com/
***Credit Report Blog*** At first read, placing a “security freeze” on your credit reports seems like an ideal way to go to prevent identity theft. However, it must be mentioned how inconvenient this can be in your daily financial matters. Read more
Escaping Bankruptcy’s Effects With Equity
“Bankruptcy has terrible effects on your ability to obtain finance. In order to solve this problem there are many things you can do.”
http://www.bestsyndication.com/
***Credit Report Blog*** Using the equity you have built on your home as a way to getting approved for a loan after bankruptcy sounds like it could be the only way out for someone in dire need of obtaining a loan. Lenders see the equity in your home as collateral for approving the loan. However, we at CreditReportBlog.com suggest that every consumer look at their own situation before choosing to go this route. Read more
How to Avoid Becoming a Victim of Identity Theft: Interview with Jeremy Duffy
“With the recent news about the CEO of LifeLock having his identity stolen, I looked around the web searching for ways we could prevent ourselves from becoming a victim without having to pay monthly or annual fees.”
***Credit Report Blog*** Jeremy is absolutely on the right track with this issue. Why pay for a service that you really don’t need, provided you are willing to invest some time and effort yourself? With a little diligence, every consumer can do exactly what the monitoring service companies do, without paying the monthly fees for their services. They don’t really “stop” identity theft as they claim; they just let you know once it has occurred. If that’s all you want, monitor your credit report yourself for inaccuracies and changes unfamiliar to you. Read more
TransUnion settlement makes services available to consumers
“Credit Bureau TransUnion’s recent settlement of a class-action suit offers several options for consumers, two of which include free credit-monitoring services for a limited time.”
***Creditreportblog.com*** So TransUnion is basically offering consumers options that are already available to them in some form or another in return for selling private consumer data to businesses. We say, take what they are offering while it’s free, but don’t let them persuade you into extending any of the options. Every consumer is already entitled to a free credit report from all 3 credit bureaus once per calendar year. If you look at it, the damage is already done. Your private information is already out there and now that TransUnion got caught, they want to make nice and say they have stopped the practice and will give you some valuable free services in return for privacy. Looks like, just another case where a big organization got caught and wants to make it all disappear by making the consumer feel like they’re getting the better end.