Tag Archives: credit bureaus
- Debt Collectors and Credit Bureaus to Report to the Consumer Financial Protection Bureau
The CFPB has just announced they will be rolling out new proposed rules that will regulate consumer debt collection and consumer reporting markets. Proposed rules would mark the first time these important markets would be subject to federal supervision. “Our proposed rule would mean that those debt collectors and credit reporting agencies that qualify as [...]
- Jim is Looking to Pay Off His Debt For Half of What He Owes
“Dear Steve, I’m overextended and about to pay off approximately $30,000 in credit card debt and would like to negotiate with credit card companies. If I settle for a smaller amount owed to the credit card company – will this reflect negatively on my credit report?? Jim” The Answer: Dear Jim, Will it hurt [...]
- How Can I Get My Hospital Payments to Improve My Credit Report? – Sasha
Sasha “Dear Steve, I just found out about 4 months ago that i owed on hospital bills that i thought was taken care of. I contacted the creditor as soon as i found out and since my income was low the hospital agreed to write off a big portion. But I am paying on the [...]
- I’m Living Off My Student Loans and Need to Get Out of Credit Card Debt. – Nancy
“Dear Steve, I am a full time graduate student who works occassionally. Mainly, I live off my student loans. I have 23K in credit card debt and need to get out of it because I don’t have much money to work with. I’m nervous about consolidating my credit cards because I heard that it doesn’t [...]
- I Would Like to Clear Up My Credit A.S.A.P. – Ginger
Ginger “Dear Steve, I have had Identity theft happen to me and I have also messed up my credit. I want to move in July 2009. I would like to clear up my credit a.s.a.p. What are the best solutions to clearing up my credit? Ginger” The Answer: Dear Ginger, Clearing up your credit [...]
- Secret Credit Bureaus You Don’t Know About, But They Know About You
So let me tell you a story about secret credit bureaus that you don’t know about. Most of us have some knowledge about the three major credit bureaus that hold our credit report and credit score. The three biggies are Equifax, Experian and Transunion. But there are more places that hold information about you. Have [...]
- Bankruptcy Filers Can Easily Get Better Credit Scores Quickly
When people go bankrupt their finances become a painful chapter in their lives. They avoid credit and shun anything to do with their credit reports or credit scores. And that’s a mistake. Going bankrupt is painful enough but being unfairly penalized for going through bankruptcy is not fair. If you have gone bankrupt in the [...]
- Disjointed Use of Your Credit Score Can Leave You Unemployed or Dead
I’m afraid that your credit score is being used in all the wrong ways for all the wrong reasons. The credit score was originally designed as an easy way for lenders to identify which potential customers would be low risk and high profit acquisitions. Using a credit score to screen new customers allows lenders to [...]
- Bob Was Injured And Is Now Behind On His Credit Cards
“Dear Steve, I’ve been out of work since 10/17/07 (Auto accident) & was let go from my job…I am trying to work with credit card companies. One said they would deffer payments for two months but close the account…How does this effect my credit score with the credit bureau? Does deffered credit card payments (by [...]
- Mary Lou Writes In And Wants To Know “Why Does My Credit Score Keep Going Down?”
Mary Lou “Dear Steve, My FICO score does not keep going up: 3/99 I filed bankruptcy-it will be 10 years next March and should come off my credit score. I owe $5,400 on one credit card and $7,300 on my car for a total of $12700. In January 2008, I owed over $26000. All bills [...]