fbpx

CFPB Takes Action to Address Junk Data in Credit Reports

Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies about their obligation to screen for and eliminate obviously false “junk data” from consumers’ credit reports. Companies need to take steps to reliably detect and remove inconsistent or impossible information from consumers’ credit profiles. For example, many children in foster care have …

Read more

These Are Credit Reporting Agencies You Can Hold Accountable

The Consumer Financial Protection Bureau (CFPB) has just released this list of consumer reporting companies that can be held accountable. The list identifies dozens of specialty reporting companies that collect and sell access to people’s data, including individuals’ finances, employment, check writing histories, or rental history records, often without their knowledge. Using the list, people …

Read more

Too Many Americans Falling for Balance Transfer Trick

Americans are struggling with record levels of credit card debt – currently more than $1 trillion. Interest rates on that debt hovers around 16 percent. One popular solution is a “zero-percent balance transfer.” This is where a person transfers high-interest credit card balances to a new credit card – which charges no interest. These deals …

Read more

Why Won’t Navient Report My Student Loan Status to The Credit Bureaus?

Question: Dear Steve, I was previously in default on multiple student loans, both federal and private. I have since rehabilitated my federal loans, and am on a .01% interest rate for my private loan (owned by navient, serviced by asset recovery?), paying on time each month. Even prior to being on this low interest rate …

Read more

Did the Statute of Limitations Expire for Debts Not on My Credit Report?

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

How Can I Get Credit Inquiries Removed From My Credit Report? – Marci

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 …

Read more

How Can I Deal With My T-Mobile Credit Report Fraud?

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 …

Read more