Fix Credit Report

Posted on Thursday, 3rd December 2009 by Admin

Credit Tip! Repair you own credit report.

If you’re going to apply for a credit card, a mortgage, a loan or any other source of finance, one thing any potential lender will check is your credit report. This will tell them about any previous unpaid debts or judgments against you, and help them assess whether you are creditworthy or not.

There are three three nationwide consumer reporting companies in the US: Experian, Equifax and TransUnion. All keep different information about you, and all or any of them may be referred to by a potential lender.

If you are thinking of applying for credit, therefore – and especially if you have ever been turned down in the past – it is important to find out what these companies have on their records about you. A

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Posted on Saturday, 28th November 2009 by Admin

Credit Tip! The credit bureau must prove each credit record on your credit report. If this is not possible, it must be stricken from the credit report.

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The use of credit today in the purchasing of food, property, assets and services is prevalent. There is hardly anything of value that cannot be purchased in part or in full by the use of credit, or a credit card. Whether it is to finance a home, or a car, or simply paying for a dinner or a holiday vacation abroad, credit is acceptable, convenient and useful.

However, the wide use of credit does not mean everyone who makes use of credit knows how to use it with wisdom.

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Posted on Tuesday, 24th November 2009 by Admin

Credit Tip! You will see the addresses for each creditor on the credit report. If it is not there, then you can call customer service to ask them to provide you with the missing information.

For years, the credit industry has tried to prevent you from seeing your credit report. Thanks to pressure from the government and consumer agencies, all of that has changed. It is now easier than ever to obtain a credit report.

Why Get a Copy of Your Credit Report?

Your credit report contains personal information that can determine whether or not you are eligible for a loan, credit card, insurance, housing, employment, and other services.

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Posted on Saturday, 21st November 2009 by Admin

Do you think the so-called free credit reports ads on TV are deceiving? Do you have some other problem with the way they market these products (all of which require signing up for monthly services)? If so, you can tell the FTC about it. They are soliciting public comments about a proposed changed to the free credit report rules, and you can learn about it through the two news releases below:

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News Release – 11/20/09
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FTC Extends Public Comment Period in Free Credit Report Rule Proceeding To December 7, 2009

The Commission today announced an extension of the public comment period for the recently issued proposal to amend the “Free Credit Report Rule” (formally the Free Annual File Disclosures Rule). Read more…

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Posted on Saturday, 21st November 2009 by Admin

When you apply for a credit card, mortgage loan, automobile loan, or any other type of credit, the lender will take a close look at your credit report and credit score. The credit score can be the most important factor in determining whether your loan application is accepted, the amount you will be approved for, and what your interest rate will be. Before you even begin the loan process, you should examine your own credit report. Even if you have always paid your bills promptly, there are sometimes mistakes on the report that you will want to have corrected before you apply for that loan.

Fortunately, it is now easier than ever to obtain your credit report. Read more…

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Posted on Thursday, 19th November 2009 by Admin

Credit Tip! 4. Learn the legal steps you must take to improve your credit report. The Federal Trade Commission’s “Building a Better Credit Report” has information on correcting errors in your report, tips on dealing with debt and avoiding scams–and more.

Lenders and creditors use your credit report to determine whether or not you are eligible for loans, credit cards, or other services. When you pull your own credit report, you should be looking for three things: your credit score, identity theft, and mistakes.

Your Credit Score

Your credit score is a three-digit number that appears on your credit report. Credit scores range between 500 and 850. The hig

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