Confused about credit reports or credit scores? all you questions are answered right here in this category of questions from readers.
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 …
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 …
Question: Dear Steve, I have an unusual situation, I guess. I have relatively low income due to some health issues, but my brain works. Despite my low income, credit card companies and banks seem to be dying to loan me money. I was even able to get a mortgage and pay it off. Now I …
Question: Dear Steve, I am crazed by a bank that financed a motorcycle for me in 2008. In 1/2009 because of the mortgage crisis I lost my job (self employed) and lost 15k of monies due me by title and closing companies. I was a notary signing agent and I was devastated. My wife lost …
Question: Dear Steve, I went through a divorce and was left with about 20,000 dollars in credit card debt. I joined capitol consumer relief. I have been paying them about a year They are now telling me to begin my credit restore process. Is this legit? Inga Answer: Dear Inga, I have no idea who …
Question: Dear Steve, I have 10,000 in debt with a score 610 and 17 derogatory marks…want to know if this myth is true? If your original creditor sold your debt to a collection agency, they also wrote off your debt on their taxes which wrote off your obligation to pay. You can dispute the transaction …
The Consumer Financial Protection Bureau (CFPB) today took action against Experian and its subsidiaries for deceiving consumers about the use of credit scores it sold to consumers. Experian claimed the credit scores it marketed and provided to consumers were used by lenders to make credit decisions. In fact, lenders did not use Experian’s scores to …
Recently I had the opportunity to learn about a new initiative by a large debt buyer and collector, Encore Capital Group. Encore is actually working hard to help consumers. And I’m sure when you read that you will be cynical. I was at first. But the changes Encore is making will assist consumers with old …
Question: Dear Steve, I’m 2 years out from Chapter 7 discharge and I have $170,000 in student loan debt (I’m under IBR). I got a new job and I’m now making 3 times my income in rent. My current credit score is just under 700. I’ve been getting offers for Discover It card offers. I’ve …
Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced it has enhanced its credit reporting policy for collections tradelines, dramatically shortening the time certain negative information remains on a consumer’s credit report. Now, after only two years, rather than the current industry-standard seven-year period, all of Encore’s U.S. subsidiaries (Midland Credit …