Confused about credit reports or credit scores? all you questions are answered right here in this category of questions from readers.
It’s coming. Big changes are in the works for consumers with old bad debts owned by debt buyers. Sources inside the debt buyer and debt collection industry are secretly making positive changes about reporting old accounts. These changes will help consumers with old delinquent accounts find a light at the end of the credit reporting …
Credit reporting in the United States has been a mess. It seems now for decades we have one revelation after another about how inaccurate your credit reports is. These errors can significantly impact credit scores without knowledge. And they do. According to the Federal Trade Commission, “five percent of consumers had errors on one of …
Question: Dear Steve, Mistakingly while researching refinancing my mortgage, getting a HELOC, refinancing my car lease payment. Because my credit is mediocre I truly was just looking, however, I inadvertently seem to have authorized credit report pulls. Now I have numerous hard inquiries approximately 18-20. None of those, not surprisingly, did not get me a …
Question: Dear Steve, My situation, my credit scores are in the low 600’s and am trying to get all my credit cards under the 30% threshold and at the same time reduce my total debt. My problem though is with the credit scores. It seems now we have to be concerned with two sets of …
Question: Dear Steve, Are fixed rate personal loans better than revolving credit (credit cards) for your credit report? I’ve seen different opinions on this so thought I’d ask the expert. Because of a business that failed we ran up some hefty credit card debt ($15k+). Would it be better for our credit score if we …
Question: Dear Steve, Completed BK CH 7 and my credit scores were on the rise.Then I received a bill from T-mobile for service I NEVER had. Now my credit is tanked again just when I was starting to recover. T-Mobile fraud is investigating but I don’t know how to find if this T-mobile fraud is …
Question: Dear Steve, I lost my house to foreclosure in 2012. I have been working odd jobs and continuing my practice in advertising. I do not yet have a full time job. I’ve been building back my life and with a steady group of clients. I have not asked for my credit reports because of …
Inaccurate and antiquated adverse items on credit reports can be extremely detrimental. They can adversely influence a consumer’s credit score, elevate interest rates and even lead them to incur a lot of money in payments they have to make. Yet most credit reporting system players emphasize that the processes, which handle contentious items in the …
Question: Dear Steve, I filed for bankruptcy in 2009 and it was discharged in 2014. My mortgage was included in this. My question is whether or not my mortgage company can report my mortgage as being late 30, 60 even 90 to 120 days late while in active bankruptcy in 2010, 2011 and 2012? Thanks. …
Question: Dear Michael, I have a collections account with AFNI on my credit report. It is a valid debt that I owe the company they are collecting for. I keep trying to ask them if they would be willing to remove the collection off my credit report after I pay in full. The answer I …