Maintain the “You” in Your Credit Union
However, when it comes to credit, too much togetherness can be bad for your bottom line. Even though there’s no such thing as a “couples” or “joint” credit report, if you both are named on a loan or listed as joint account holders, any flub-up (late payments, defaults) on the account will mar both of your credit files, no matter who forgot to put the mortgage check in the mail.
CreditReportBlog.com recommends that all couples make looking at each other’s credit reports a part of the screening process once things start to move towards the marriage phase. As skeptical as it sounds, there is never a guarantee that any marriage is going to last forever. An uncomfortable conversation now can avoid an even more uncomfortable situation later, if things turn sour with your finances. Read more
FICO 08 May Change Your Credit Score
The credit scoring formula has been periodically updated over the past 20 years, with changes in technology. FICO 08 will make the scoring system more sensitive to multiple late payments and less sensitive to isolated incidents of late payment or those that occurred a few years ago,� states Craig Watts, Public Affairs Manager, for Fair Isaac Corporation, the creator of the credit scoring system.
CreditReportBlog.com – As credit reports are increasingly being used as the basis of making major decisions concerning many facets of a person’s life, it is more and more important that the FICO score be as precise as possible in giving a true picture of one’s financial well-being. As we all know, your FICO score can affect possible employment, all loan applications ( big or small ), rental applications, etc. Read more
Easier, cheaper credit report freezes
SACRAMENTO – Gov. Arnold Schwarzenegger Monday signed legislation to put the deep freeze on fees charged for freezing credit reports.
http://weblog.signonsandiego.com
CreditReportBlog.com – Well, we can hardly call this piece of legislation a “deep freeze”. There a few good changes, but anything huge. It calls for the fees charged by credit reporting agencies to now be $10 instead of $12, gives seniors a rate of $5, and calls for agencies to comply to all freezing requests within 3 days. Another little tidbit, requests can now be made through regular mail, instead of only certified mail. Read more
The Major Credit Bureaus
The 3 major credit bureaus are Equifax, TransUnion, and Experian. These companies collect financial information from various creditors and sell this information in the form of credit reports to lenders or others who have a legitimate use for it. Each individual has a right to see what is contained in their credit report at the various credit bureaus. Individuals are entitled to receive one FREE copy of their credit report from each bureau, once every 12 months. The information contained in the credit reports may be as follows:
· Individual’s full name, address, place of employment, and spouse’s name, if married. Read more
3 bureaus’ credit scores can be widely varied
Most lenders look at a consumer’s credit scores to decide whether to grant a loan and how much to charge. Consumers can buy a report on their credit scores, but these scores vary — sometimes widely. “There is a pervasive myth that there is one credit score,” said Rod Griffin of Experian.
CreditReportBlog.com advises that everyone get a copy of their FREE credit report from each of the 3 credit bureaus. Although most of the time the information should not be too different on all the credit reports, your credit score may vary somewhat depending on few bits of info that one credit bureau may or may not have. Before applying for any type of loan, a consumer should be aware of where they stand, in terms of their credit score. Read more
Credit Restoration Service Announces Contest for the Worlds Worst Credit Report
July 2, 2008 — Lee Harrison Credit Restoration is looking for the world’s worst credit report. They will clean the worst credit report each month for 6 months for free. To enter the contest, applicants must send a copy of their Experian, Equifax, transunion and CSC.
CreditReportBlog.com – Well, this sounds like a great deal if you are the lucky, chosen few. With the enormous number of Americans sinking in debt these days, there will the credit restoration company is likely to be flooded with applicants for this new “contest” to find the worst credit reports in America. If you think you’re situation is bad, there will probably be many others with stories 10 times worse. 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
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
There is a funny side to credit reports….
Although thinking about credit reports can be very stressful, take some time to have a laugh or two….