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Credit Score & Credit Report

Credit Issues? You Are Not Alone – Fax – SCAM WATCH

Credit Issues Fax

Be on the lookout for a fax that is being sent out below. A tipster (send in your tips here) sent in the fax below and it raises a number of red flags for me. The fax allegedly comes from the 561 area code (561-634-2067), the unsubscribe is in the 208 area code (208-337-6079) and the fax back number is ... Read More »

Financial Reporter at Washington Post, She Needs Your Help

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Recently I was interviewed by Ylan Mui from the Washington Post who is doing a story on alternative credit bureaus. She asked if readers might be able to help her as well on her story and I said I’d be happy to ask. Here is what she is looking for help with. I’m a reporter working on a story about ... Read More »

Just Thinking About Strategically Defaulting on Your Mortgage? FICO Says They Know Who You Are

FICO FIGURE 1

FICO recently released a study that claims they can pinpoint those who are prime candidates for strategically defaulting on their mortgage. Strategic defaulters can be defined as those able to make their mortgage payments but unwilling to do, often because their mortgage is worth more than their property value. Researchers at FICO have determined an ability to identify borrowers 100 ... Read More »

Building Your Financial Future: Advice For 20-Somethings

Photo Credit: AMagill

photo © 2009 Andrew Magill | more info (via: Wylio)A lot of people always say that sometimes no credit is just as bad as poor credit. And I’d like to attest, this is correct. I, Amanda Miller, am in my 20s. Which means, you guessed it, I am the poorest I will ever be again (knock on wood). When I ... Read More »

Debt Wise by Equifax. What’s the Point?

Equifax Debt Wise

It appears I’m not the only one less than impressed by the new Debt Wise service rolled out by Equifax. LA Time reporter David Lazarus has some thought to share on it as well. For $14.95 per month Equifax will sell you a service that guide you to come up with a fast plan out of debt. But there may ... Read More »

Bank Errors Taint Credit Reports and Lower Credit Scores

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by Marian Wang, ProPublica, We’ve pointed out cases in which banks’ miscommunication and disorganization have caused mistaken foreclosures [1], but as several recent [2] reports [3] have noted, that’s not the only way in which bank mistakes have affected homeowners. Some consumers have been surprised to see damage to their credit score after requesting information from the banks. One Nevada ... Read More »

Use of Credit History in Hiring is Another Form of Unfair Discrimination

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From the title alone some readers might have a visceral response that this article is going to be another liberal rant about the need for bigger government and more regulation. It’s not, so keep reading. There is no understanding of how many employers use credit histories in their hiring process. Consumers are afraid of the background check and employers are ... Read More »

Employers May Be Banned From Pulling Credit Reports if “Equal Employment for All Act” (HR.3149) Passes

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A bill put forth last year in Congress may have a greater need now that the economy has remained sour for so long. Tough employment conditions can create a negative entry on a credit report and we don’t want that to hold people back from obtaining employment. Representatives Steve Cohen (D-TN) and Luis Guitérrez (D-IL) introduced H.R. 3149, the “Equal ... Read More »

Deceptive ‘Credit Card’ Marketers Settle FTC Charges; Cards Were Good Only for Buying ‘Low Pay’ Catalog Merchandise at High Prices

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As part of its ongoing efforts to stop deceptive marketing, the Federal Trade Commission halted an operation that deceived consumers into paying for bogus credit cards and charged them illegal fees. The marketers behind this operation agreed to a settlement that will halt their illegal tactics and provide money for consumer redress. The FTC reached a settlement with six defendants ... Read More »

FTC Proposes Changes to Fair Credit Reporting Act

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The Federal Trade Commission is proposing revisions to the notices that consumer reporting agencies provide to consumers, and to users and furnishers of credit report information under the Fair Credit Reporting Act (FCRA). The FCRA requires the FTC to publish model notices for several forms that must be provided by consumer reporting agencies. The proposed changes are designed to reflect ... Read More »

Off to College: How to Use Credit Cards and Not Get in Over Your Head

Total Interest Payment Made When Paying Only the Minimum Payment

Let’s face it: when it comes to getting credit, most students have it easy these days. Most college students do get credit cards — and plenty of them if they want. According to a recent study for the Education Resources Institute and the Institute for Higher Education Policy, many college students have credit cards and some of them got their ... Read More »

CPN and Dormant Social Security Numbers, Another Scam

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The Independent Mail out of Anderson, South Carolina is reporting that the CPN scam I previously wrote about, CPN – Credit Profile Number / Credit Privacy Number – Craigslist Scam to Watch Out For, is still chugging along. The numbers are usually in the name of young children who have no credit history but can also be numbers once assigned ... Read More »

How Do You Value Your Quality of Life? Debt Solutions to Fix The Future

Photo Credit: Cayusa

Debt doesn’t just affect the people actually in debt, it often affects the ones around them, near and dear to them. I know this from first hand experience as someone who has loved and lived with someone so deep in debt they could not see a way out. Not only is the emotional toll hard on the debtor but also ... Read More »

A Good Credit Score Can Save Me How Much Money? – Infographic

A Good Credit Score [Infographic]

Often times when dealing with a financial problem it is not possible to keep your credit score in top notch condition. But after the crisis passes, striving for a good credit score is a good thing to do, even if you don’t plan to go deep in debt ever again. Here is a great infographic that explains why. Especially nice ... Read More »

A Quarter of People Have a Credit Score Below 599

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It’s no surprise that people struggling to makes ends meet would wind up with a bad credit score after maybe maxing out their cards, missing a payment or landing in collections. The Associated Press is reporting that FICO has stated that the credit scores for more and more people are sinking to new lows. The block of consumers that had ... Read More »

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