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Credit Score & Credit Report

Credit Reporting Company Clarity Services Does What!

head-scratch

The Consumer Financial Protection Bureau (CFPB) took action against a nationwide credit reporting company, Clarity Services, Inc., and its owner, Tim Ranney, for illegally obtaining consumer credit reports. The company also violated the law by failing to appropriately investigate consumer disputes. The Bureau is ordering the company and its owner to halt their illegal practices and improve the way they ... Read More »

    Sprint Dropped Call on Fair Credit Reporting Act Says FTC

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    Mobile service provider Sprint will pay $2.95 million in civil penalties to settle Federal Trade Commission charges that the company failed to give proper notice to consumers who were placed in a program for customers with lower credit scores and charged an extra monthly fee. In its complaint, the FTC alleges that Sprint placed consumers with lower credit scores in ... Read More »

      Why People With Good Credit Have More Dollars in Their Pocket

      How Much Your Credit Score Costs You

      Credit Karma, an online consumer finance platform with more than 35 million members, today launched a new consumer education website in honor of March’s Credit Education Month to better educate consumers about credit health. The new site, CreditEducationMonth.com, is designed as a first stop for consumers to educate themselves on the importance of actively managing credit, illustrating the impact of ... Read More »

        FTC Reviews Credit Report Dispute Process and Reaches Conclusion

        credit good

        The Federal Trade Commission has issued a follow-up study of credit report accuracy that found most consumers who previously reported an unresolved error on one of their three major credit reports believe that at least one piece of disputed information on their report is still inaccurate. The congressionally mandated study is the sixth and final study on national credit report ... Read More »

          Berges Law Group and Consumer Protection Counsel Still in Suit With a Twist

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          I got my hands on a copy of a recent court document on a suit by a consumer against Otto Berges, Berges Law Group, Paralegal Staff Support, and Consumer Protection Counsel. The suit out of Wisconsin alleges the companies and entities may have been intertwined in a effort to sell credit repair services. The motion from Judge Griesbach says, “the ... Read More »

            TeleCheck Bitch Slapped by FTC Over Inaccuracies

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            TeleCheck Services, Inc., one of the nation’s largest check authorization service companies, along with its associated debt-collection entity, TRS Recovery Services, Inc., have agreed to pay $3.5 million to settle Federal Trade Commission charges that they violated the Fair Credit Reporting Act (FCRA). The penalty matches the second-largest ever obtained by the FTC in an FCRA case. Earlier this year, ... Read More »

              Bill Would Make Employment Credit Checks Illegal

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              United States Senator Elizabeth Warren (D-Mass.) today introduced the Equal Employment for All Act with Senators Richard Blumenthal (D-Conn.), Sherrod Brown (D-Ohio), Patrick Leahy (D-Vt.), Edward J. Markey (D-Mass.), Jeanne Shaheen (D-N.H.), and Sheldon Whitehouse (D-R.I.). The legislation would prohibit employers from requiring potential employees to disclose their credit history as part of the job application process. It was previously ... Read More »

                What is Free Credit Report Monitoring and How to Get It

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                There is no shortage of issues that abound when it comes to credit reports. Between worrying if the correct information is being reported about you to what might be going on with your credit report behind your back, you have to remain ever vigilant. There many places where you can pay for credit report monitoring but I like to recommend ... Read More »

                  Ways to Build Credit Without Relying Solely on Credit Cards

                  Debtstar

                  For those who prefer to pay with cash and avoid the credit card debt cycle altogether, building a solid credit history and high FICO score can be a challenge – but it doesn’t have to be. Only a small portion of your FICO score is based on having and using revolving credit. The first step is to understand what goes ... Read More »

                    Credit Report Data Broker Leaks a Concern for FTC

                    Big Bad Burglar

                    The Federal Trade Commission sent letters to ten data broker companies warning that their practices could violate the Fair Credit Reporting Act (FCRA) after a test-shopping operation by the FTC indicated the companies were willing to sell consumer information without abiding by FCRA requirements. The test-shopping operation was part of a worldwide privacy protection effort. FTC staff members posed as ... Read More »

                      Credit Reports Screwed Up. Anyone Surprised?

                      "Credit rating" handwritten with white chalk on a blackboard

                      A Federal Trade Commission study of the U.S. credit reporting industry found that five percent of consumers had errors on one of their three major credit reports that could lead to them paying more for products such as auto loans and insurance. Overall, the congressionally mandated study on credit report accuracy found that one in five consumers had an error ... Read More »

                        The Big List of Top Secret Speciality Credit Reporting Agencies

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                        When it comes to companies that collect and sell information about you, people generally think there are only three major credit bureaus. In fact there are a number of speciality credit bureaus. You’ll be surprised how many different company collect and maintain information about you. Below you will find a comprehensive listing of these credit bureaus and how to contact ... Read More »

                          Credit Report Infographic Gives Picture of Credit Health

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                          A great inforgraphic from Direct Lending Solutions gives an interesting picture of credit health in America. If you look towards the bottom of the infographic you’ll see there is no clear connection between credit scores and bankruptcy filing rates. Also, above that is a graphic that shows the wave of credit account closures in the past three years. Get Out ... Read More »

                            Prime Credit Experts Makes Claims That Seem Deceptive for Consumers

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                            I saw an online ad for a company called Prime Credit Experts that said “Permanently Remove Charge Offs – Immediately Improve Your Credit Score.” – Source. So of course I had to go take a look at their site. When credit repair companies make claims about their services and being able to delete inaccurate information from a credit report, that’s ... Read More »

                              Killer iPhone App Delivers Free Credit Score and Credit Monitoring

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                              The folks over at Credit Karma have been busy little bees. I’ve been a fan of their free credit score and credit score modeling tool and mentioned them on the site. But now they’ve outdone themselves with their new iPhone app. The app is free to download and delivers a ton of useful information, except for the credit score modeling ... Read More »

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