Confused about credit reports or credit scores? all you questions are answered right here in this category of questions from readers.
So, you’ve disputed an item on one of your credit reports, and now you’ve gotten your response. Now what? These tips about how to read the results of your credit report dispute can help. 1. Decoding the terminology First of all, it’s important to understand the terminology you might find in the results of your … Read more
Six years ago, Jim Wang, a 39-year-old father of three, bought a new home in Fulton, Md. A high credit score helped him land his mortgage, but after the dust from the move settled, he was able to continue reaping the rewards of his financial prowess. “We knew that, eventually, we’d have to replace a … Read more
Starting October 31, 2019, many members of the military will have access to free electronic credit monitoring, which can help them spot identity theft. In response to a new FTC Rule implementing a 2018 law, the nationwide credit reporting agencies—Equifax, Experian, and TransUnion—are providing free electronic credit monitoring services to active duty service members and … Read more
Question: Dear Steve, Why are you writing false information about that group and using that douchebag for all your information?? This is the problem your a sheep like everyone else you dont truly do your homework just let someone else feed it to your. YOU my friend are bullshit im just giving you the heads … Read more
Recently I wrote a post about open activity selling CPN numbers to consumers to use in place of their actual Social Security Number to apply for credit, CPN typically stands for a Credit Profile Number, Credit Protection Number, or Credit Privacy Number. See this post and this one. In the original post, I showed screenshots … Read more
Recently I wrote this post about people who are selling CPN numbers to use in place of Social Security Numbers to apply for credit. The post busts open the incorrect belief that people can use a CPN sold online to get a new credit history. CPN typically stands for a Credit Profile Number, Credit Protection … Read more
After your Social Security number, your credit score is one of the most significant numbers of your financial life. Your credit score helps decide whether you qualify for loans and what your interest rates will be. Using a credit card can have an impact on your credit score. Everything you do with a card — from … Read more
At the Federal Trade Commission’s request, a federal court has temporarily halted and frozen the assets of Grand Teton Professionals, an alleged credit repair scheme that charged illegal upfront fees and falsely claimed to repair consumers’ credit. The company and other defendants are charged with violating the FTC Act and several provisions of the Credit … Read more
The Federal Trade Commission has finalized the rule implementing a 2018 law that requires the nationwide consumer reporting agencies (CRAs) to provide free electronic credit monitoring services for active duty military consumers. The Free Electronic Credit Monitoring for Active Duty Military Rule, which will be published in the Federal Register shortly, implements legislation included in … Read more
An interesting lawsuit was filed by a consumer in Alabama against Select Portfolio Servicing, Jared Galleria of Jewelers, Prestige Financial Services, Experian, Equifax, and Trans Union. What is interesting about the suit is the description of the broken and defective credit report dispute process of inaccurate information. Many of us have experienced such issues firsthand. … Read more
Household debt balances continued their upward trend in the second quarter, with increases in mortgage, auto, and credit card balances, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. Student loans were roughly flat, a typical seasonal pattern in the second quarter. The Quarterly … Read more
A federal judge has ordered Credit Bureau Center, LLC and its owner, Michael Brown, to pay more than $5.2 million to return to consumers, to resolve FTC charges that they deceived people with fake rental property ads and deceptive promises of “free” credit reports, and then tricked them into enrolling into a costly monthly credit … Read more
Question: Dear Steve, A few years ago, I signed up with Credit Karma and have watched my credit reports ever since. I applied for an RV loan, thinking my scores were in the mid-700’s as is reflected in my Transunion and Equifax reports on Credit Karma. Was told that they only use Experian (which Credit … Read more
Question: Dear Steve, My daughter was unable to continue paying her student loan and live with a roof over her and her children. The question is can the debt come off her credit report? Can she go to court to get it removed? Eloise Answer: Dear Eloise, The debt will be reported on the consumer … Read more
Question: Dear Steve, I am getting calls and letters about loans that were signed for in 2003 and 2004. Wouldn’t these loans be passed the SOL. How does bankruptcy affect statute of limitations? Does it start the clock back at zero in regards to time you have to pay it? What if I am getting … Read more