Today, we’re going to be talking about credit repair, how to improve your credit score, scams to avoid, and what you should and should not do to help make your credit score as shiny as it should be. You can find Damon Day on his site. If you have a question you’d like to ask …
Today, the Consumer Financial Protection Bureau (CFPB) is filing a lawsuit against TransUnion, two of its subsidiaries, and longtime executive John Danaher for violating a 2017 law enforcement order. The order was issued to stop the company from engaging in deceptive marketing, regarding its credit scores and other credit-related products. After the order went into …
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 …
On December 12, 2018, David Lacks Sued TransUnion and Wells Fargo Home Mortgage over what appears to be a very irritating situation after staying current on his home mortgage. Lacks filed for a Chapter 7 bankruptcy but reaffirmed his home mortgage with Wells Fargo and continued making his payments. His mortgage was not discharged in …
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, 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 …
TransUnion (NYSE: TRU) released today CreditVision®, the first credit score in market to combine both trended credit bureau data and alternative data sources — creating a more precise picture of consumer risk and their ability to manage financial commitments. CreditVision Link allows lenders to score up to approximately 95% of the U.S. adult population. The …
Recently the three major credit reporting agencies — Equifax, Experian and TransUnion — agreed to a settlement with the New York Attorney General’s office to overhaul the national credit reporting process to better serve Americans. The agreement includes changes to the credit report dispute process, how some negative information can appear on credit reports and …
A recent TransUnion study found that more than 23 million U.S. consumers would be classified as Super Prime, the highest-rated consumer credit risk group, when evaluated by TransUnion’s CreditVision® risk score. Compared to the use of a traditional risk score, the use of CreditVision would increase the percentage of consumers in the Super Prime risk …