Oct
25
Amy Gordon asked:
Keeping data of your annual credit report is very important because the importance of the credit reports have increased to a great extent. Nowadays, you must be aware of every ups and down in your credit status as every financial matter is related with your credit scores. Anytime and at anywhere like while seeking a loan, while applying for credit cards, getting an auto or a home loan or for applying for a job; you will have to produce your credit reports. So, it is very important to know about your credit status and the free annual credit reports will be helpful for you in that context.
Visiting the credit bureau to know your credit reports frequently is not possible. So, you should do such arrangements that these reports are easily available to you. One best way is to go for the online facilities and get information on what you want just by sitting in your home. Just provide the required information like your identity and then avail the reports easily. This will help you in being informed and alert for your records and hence you will be able to avoid any possible unwanted situation.
Such credit reports use to keep data of all kind of expenses, credit status, loans and repayments, major financial transactions and outstanding payments. As the credit scores are being provided in such reports so it will be helpful for you to take precautionary steps if the credit score is going to be poor. These will also save you from suffering any sort of identity thefts.
The free annual credit reports use to be of several types like consumer credit report, business credit report or personal credit reports. Therefore, you will be updated quite easily through such free such services and will be able to keep problems away.
PETER
Keeping data of your annual credit report is very important because the importance of the credit reports have increased to a great extent. Nowadays, you must be aware of every ups and down in your credit status as every financial matter is related with your credit scores. Anytime and at anywhere like while seeking a loan, while applying for credit cards, getting an auto or a home loan or for applying for a job; you will have to produce your credit reports. So, it is very important to know about your credit status and the free annual credit reports will be helpful for you in that context.
Visiting the credit bureau to know your credit reports frequently is not possible. So, you should do such arrangements that these reports are easily available to you. One best way is to go for the online facilities and get information on what you want just by sitting in your home. Just provide the required information like your identity and then avail the reports easily. This will help you in being informed and alert for your records and hence you will be able to avoid any possible unwanted situation.
Such credit reports use to keep data of all kind of expenses, credit status, loans and repayments, major financial transactions and outstanding payments. As the credit scores are being provided in such reports so it will be helpful for you to take precautionary steps if the credit score is going to be poor. These will also save you from suffering any sort of identity thefts.
The free annual credit reports use to be of several types like consumer credit report, business credit report or personal credit reports. Therefore, you will be updated quite easily through such free such services and will be able to keep problems away.
PETER
Oct
25
Credit Reports guide
Filed Under Finance | Leave a Comment
Mansi Gupta asked:
Big and small loans have become quite a commonplace these days. Borrowing money has also become quite frequent with the advent of credit cards. As more and more people are banking on loans and other money borrowing techniques to accomplish their tasks, in order to save themselves from deceit banks and other money lending organizations have started enquiring about the individual’s history first.
The information so sought by banks and such organizations is in the form of a credit report. For any lender/s a credit report is the ideal way to determine a person’s creditworthiness. A credit report is a document that lists the concerned person’s credit history, employment and residence history. The personal details so mentioned in the report are the details filled by the person in his credit application. The report is created and updated using information from banks, traders and other creditors. Credit report also lists any judgments, tax liens, bankruptcies or similar matters of public record entered against the individual. In simple terms the report also records the number of times your credit report has been sought whether by a lender, service provider, landlord or employer which remains for up to two years.
Reflecting on a person’s past credit structure, a credit report thus enables a creditor to assess the ability of a person to repay the loan or make timely payments. This makes it easy for him to decide whether the loan is to be sanctioned in favor of the person or not.
But the fact is that a credit report can never be made available to any organization without the consent of the person being reported on. Moreover there are times when reporting agencies refuse to provide credit reports or investigate credit disputes, saying that they cannot identify the consumers. They ask the consumer to mail the copies of ID and utility bills or any other important documentation. Also for men and women in military it is even more difficult to get their own credit reports and many a times when you are overseas, it is just impossible to get that.
Lately it has been seen that access to credit information is proving to be a bone of contention for the businesses and consumers. Some big fish in this market such as Equifax, Experian and Trans Union are planning to introduce their own multi-agency credit score to outwit each other.
Every such company aims to make profits by providing accurate and instant credit information to the consumers. But unfortunately most often the results are disastrous in the form of inaccurate credit reports, identity theft and huge fees for credit monitoring after the consumer’s identity has been made available to thieves.
However a lot of nuances can be prevented if the consumer is cautious. After an individual gets his report, he should study it thoroughly. Anything negative on the report should be corrected right away, like the unpaid bills. Once you have paid the dues, let the concerned business notify the credit-reporting agency of it.
The accuracy of the report i.e. opening of any new account, charges you did not make or negligence or crime you are not responsible for etc. should also be carefully checked. If there is any fault, immediately report the concerned credit report agency about it.
SAUL
Big and small loans have become quite a commonplace these days. Borrowing money has also become quite frequent with the advent of credit cards. As more and more people are banking on loans and other money borrowing techniques to accomplish their tasks, in order to save themselves from deceit banks and other money lending organizations have started enquiring about the individual’s history first.
The information so sought by banks and such organizations is in the form of a credit report. For any lender/s a credit report is the ideal way to determine a person’s creditworthiness. A credit report is a document that lists the concerned person’s credit history, employment and residence history. The personal details so mentioned in the report are the details filled by the person in his credit application. The report is created and updated using information from banks, traders and other creditors. Credit report also lists any judgments, tax liens, bankruptcies or similar matters of public record entered against the individual. In simple terms the report also records the number of times your credit report has been sought whether by a lender, service provider, landlord or employer which remains for up to two years.
Reflecting on a person’s past credit structure, a credit report thus enables a creditor to assess the ability of a person to repay the loan or make timely payments. This makes it easy for him to decide whether the loan is to be sanctioned in favor of the person or not.
But the fact is that a credit report can never be made available to any organization without the consent of the person being reported on. Moreover there are times when reporting agencies refuse to provide credit reports or investigate credit disputes, saying that they cannot identify the consumers. They ask the consumer to mail the copies of ID and utility bills or any other important documentation. Also for men and women in military it is even more difficult to get their own credit reports and many a times when you are overseas, it is just impossible to get that.
Lately it has been seen that access to credit information is proving to be a bone of contention for the businesses and consumers. Some big fish in this market such as Equifax, Experian and Trans Union are planning to introduce their own multi-agency credit score to outwit each other.
Every such company aims to make profits by providing accurate and instant credit information to the consumers. But unfortunately most often the results are disastrous in the form of inaccurate credit reports, identity theft and huge fees for credit monitoring after the consumer’s identity has been made available to thieves.
However a lot of nuances can be prevented if the consumer is cautious. After an individual gets his report, he should study it thoroughly. Anything negative on the report should be corrected right away, like the unpaid bills. Once you have paid the dues, let the concerned business notify the credit-reporting agency of it.
The accuracy of the report i.e. opening of any new account, charges you did not make or negligence or crime you are not responsible for etc. should also be carefully checked. If there is any fault, immediately report the concerned credit report agency about it.
SAUL
Oct
24
Is it legal for a collection agency to list an old credit card account with a more current date?
Filed Under Credit | 6 Comments
Shakwon asked:
when the 1st delinquency was prior to the date on the credit report? I had a credit card account which I opened in 1998 but on my report it stated it wasn’t delinquent until 2002. I heard that it is removed 7 years after it was opened. What is the most accurate information about how much longer it will be on my report? Also, is it true that a consumer can be absolved of the debt if the agency refuses to make payment arrangements?
I Live in MD
MARIANO
when the 1st delinquency was prior to the date on the credit report? I had a credit card account which I opened in 1998 but on my report it stated it wasn’t delinquent until 2002. I heard that it is removed 7 years after it was opened. What is the most accurate information about how much longer it will be on my report? Also, is it true that a consumer can be absolved of the debt if the agency refuses to make payment arrangements?
I Live in MD
MARIANO
Oct
21
Navy Federal Credit Union Violation of FRCA?
Filed Under Credit | 3 Comments
Bob asked:
This contact letter is in regards to my consumer loan accounts -01 and -02. I just recently checked my credit report because I am in the market to purchase my first home in Lexington Park, Maryland, and I noticed some disturbing information. It seems that your company reported my on numerous occations for being 30 days late on each loan account. This information is false, and your company is in direct violation of the Fair Credit Reporting Act. The reason these accounts were reported as late, according to your customer service, is this is the time that I requested a one month grace period because my mother died in September of 2004, and I had to pay for the funeral service. My father passed on a few months later in February of 2005. I notified all my creditors and told them of the situation and was given a payment plan. The extention from your company was granted from the Branch Manager in Brunswick, Maine. All the payments that I made after that were paying the previous month
JOAQUIN
This contact letter is in regards to my consumer loan accounts -01 and -02. I just recently checked my credit report because I am in the market to purchase my first home in Lexington Park, Maryland, and I noticed some disturbing information. It seems that your company reported my on numerous occations for being 30 days late on each loan account. This information is false, and your company is in direct violation of the Fair Credit Reporting Act. The reason these accounts were reported as late, according to your customer service, is this is the time that I requested a one month grace period because my mother died in September of 2004, and I had to pay for the funeral service. My father passed on a few months later in February of 2005. I notified all my creditors and told them of the situation and was given a payment plan. The extention from your company was granted from the Branch Manager in Brunswick, Maine. All the payments that I made after that were paying the previous month
JOAQUIN
Oct
19
Student asked:
Dun & Bradstreet is known for providing
Dun & Bradstreet is known for providing
A. interest rate information to cash managers.
B. credit scoring reports that rank a company’s payment habits relative to its peer group.
C. consumer credit reports to credit card companies.
D. cash management systems to corporate treasurers.
SYDNEY
Oct
12
Free Instant Credit Report: Know Your
Filed Under 634 | Leave a Comment
Sophie Wilson asked:
Having knowledge about your credit score is quite essential nowadays. You will have to show it in almost every financial purpose whether it is while seeking a loan, while applying for a credit cards, getting an auto or a home loan or for applying for a job. The necessity of the knowledge of credit records is very immense. In such case, if you know the better ways then you can easily get your free instant credit report.
It is the credit bureau that keeps track of your credit records. All kind of expenses, loans and repayment are being noticed by it. In such case, you will be able to secure the records from it. For availing these records you can go for the online services as it will be the easier and best way. At a single mouse click the reports can be accessed. All such online services are being provided to you for free of cost. Anytime you need to produce your credit report, this process will prove to be quite helpful. Such report will show all your personal information, major financial transactions, credit status, outstanding payments and also credit score.
The need for credit reports is not only being felt for loan purposes. It is essential for you to know because you would have to be careful in maintaining a good record. Having a good record is always helpful and hence, you should keep an eye on it. Moreover, keeping a regular data will save you from suffering any sort of identity thefts.
The free instant credit report that you want to achieve can be of different types such consumer credit report, business credit report or annually credit report. After providing these records only you will be able to get favors of the lender. Any lender for any loan strictly demands for the credit scores nowadays.
GALEN
Having knowledge about your credit score is quite essential nowadays. You will have to show it in almost every financial purpose whether it is while seeking a loan, while applying for a credit cards, getting an auto or a home loan or for applying for a job. The necessity of the knowledge of credit records is very immense. In such case, if you know the better ways then you can easily get your free instant credit report.
It is the credit bureau that keeps track of your credit records. All kind of expenses, loans and repayment are being noticed by it. In such case, you will be able to secure the records from it. For availing these records you can go for the online services as it will be the easier and best way. At a single mouse click the reports can be accessed. All such online services are being provided to you for free of cost. Anytime you need to produce your credit report, this process will prove to be quite helpful. Such report will show all your personal information, major financial transactions, credit status, outstanding payments and also credit score.
The need for credit reports is not only being felt for loan purposes. It is essential for you to know because you would have to be careful in maintaining a good record. Having a good record is always helpful and hence, you should keep an eye on it. Moreover, keeping a regular data will save you from suffering any sort of identity thefts.
The free instant credit report that you want to achieve can be of different types such consumer credit report, business credit report or annually credit report. After providing these records only you will be able to get favors of the lender. Any lender for any loan strictly demands for the credit scores nowadays.
GALEN
Oct
10
Has anyone gotten credit using PRBC?
Filed Under Credit | 3 Comments
JLow asked:
I just found out about a credit reporting agency that isn’t one of the big three but is geared for the consumer without credit. I am interested in using it to build my credit, but don’t want to if it won’t help me get approved eventually. Has anyone used this agency and if so, was it helpful in getting you approved for a mortgage?
SONNY
I just found out about a credit reporting agency that isn’t one of the big three but is geared for the consumer without credit. I am interested in using it to build my credit, but don’t want to if it won’t help me get approved eventually. Has anyone used this agency and if so, was it helpful in getting you approved for a mortgage?
SONNY
Oct
6
I need help with credit issues?
Filed Under Credit | 4 Comments
SoonerFan asked:
Okay, so here goes. I recently, three months ago, started tackling my 15,000 in CC debit. What I did was contact American Consumer Credit Counseling. I have been paying $760 a month toward the debit, plus whatever else I can afford. At the same time I am trying to establish a savings account in case of emergencies, I am putting $400 a month into that account. I plan on putting an additional $1200 every three months toward the credit cards. If I don’t make any other additional payments then I should have it paid off by next December.
To add to this I purchased a car three years ago with a loan that has a 17% APR, I know awesome. I have never been late on a car payment, but now the car is breaking and becoming unreliable. I still owe about $6000 on the car loan. I think the car could probably last another year, I will just need to put money into the car to keep it going.
I have been managing my experian credit report. And a few of them are reporting, account payments managed by a financial counseling program. Also that the account aren’t scheduled to go to a positive status until 2013-2015. My credit score is 494, it went down two points in the last month.
I have a couple of questions.
Should I even consider purchasing a new car? Could I get a loan with a decent APR? I can afford the payment but just don’t want to pay double for a car loan, again.
How can I improve my score? Is there anything else I can do?
DOMINGO
Okay, so here goes. I recently, three months ago, started tackling my 15,000 in CC debit. What I did was contact American Consumer Credit Counseling. I have been paying $760 a month toward the debit, plus whatever else I can afford. At the same time I am trying to establish a savings account in case of emergencies, I am putting $400 a month into that account. I plan on putting an additional $1200 every three months toward the credit cards. If I don’t make any other additional payments then I should have it paid off by next December.
To add to this I purchased a car three years ago with a loan that has a 17% APR, I know awesome. I have never been late on a car payment, but now the car is breaking and becoming unreliable. I still owe about $6000 on the car loan. I think the car could probably last another year, I will just need to put money into the car to keep it going.
I have been managing my experian credit report. And a few of them are reporting, account payments managed by a financial counseling program. Also that the account aren’t scheduled to go to a positive status until 2013-2015. My credit score is 494, it went down two points in the last month.
I have a couple of questions.
Should I even consider purchasing a new car? Could I get a loan with a decent APR? I can afford the payment but just don’t want to pay double for a car loan, again.
How can I improve my score? Is there anything else I can do?
DOMINGO
Oct
5
I have bad credit, can I open a Roth IRA?
Filed Under Investing | 6 Comments
Its me again asked:
I have learned my lesson. I’ve been trying to pay down my unsecured debt for a year with consecutive payments, and I want to open a Roth IRA and hopefully one day, I can use it to retire, buy my first home, or education. The problem is I still have bad credit (probably for next 7 years but with debt paid), and I want to know:
I have learned my lesson. I’ve been trying to pay down my unsecured debt for a year with consecutive payments, and I want to open a Roth IRA and hopefully one day, I can use it to retire, buy my first home, or education. The problem is I still have bad credit (probably for next 7 years but with debt paid), and I want to know:
are there ANY companies I can open up a Roth IRA account with my type of credit?
I have a T.Rowe Price 401K account from work and I contribute 6% and my company matches that. I looked at the forms/paperwork for the TRowe Price Roth IRA and in the fine print it indicated that they will pull my consumer reports.
CHARLIE
Oct
5
Consumer Credit Reports - A Brief Review
Filed Under Business | Leave a Comment
Tima.ashar asked:
Being an employer, you may want to use consumer credit reports while hiring new employees and also while assessing them for promotion, reassignment, and retention, but only if you abide by the Fair Credit Reporting Act (FCRA). Sections 604, 606, and 615 of the FCRA clearly mention the employer’s responsibilities towards its employees when he uses consumer reports for employment purposes.
The FCRA was primarily constituted to guard the privacy of the consumer report information and to guarantee that the information that is printed on the report by the bureaus and agencies is precise. An amendment was made to the FCRA on 30th Sep 1997 stating that more and more obligations should be imposed on employers who use consumer reports. The Congress advocated this step, as they felt that inaccurate and incomplete consumer reports can cause someone his job or may be even his promotions.
The amendments made it clear that
individuals must be informed that the employer is checking his credit report and more importantly he should agree to it.
individuals have the right to be informed if the information in the credit report has negative influences on employment decision.
More information about consumer report: -
A consumer credit report consists of personal information along with credit characteristics, character, general reputation, and lifestyle. This report should be prepared by a consumer-reporting agency (CRA) according to the FCRA.
Employers feel safe and satisfied to run a background check on applicant before hiring them for the desired job. Some employers are only interested in your credit payment record, some in driving record and some in criminal records. Depending on your job profile, an employer can even ask for an investigative consumer report. These are types of consumer credit reports if acquired from CRA.
For more information on credit reports and identity theft issues, visit - Free Credit Report
AUGUSTINE
Being an employer, you may want to use consumer credit reports while hiring new employees and also while assessing them for promotion, reassignment, and retention, but only if you abide by the Fair Credit Reporting Act (FCRA). Sections 604, 606, and 615 of the FCRA clearly mention the employer’s responsibilities towards its employees when he uses consumer reports for employment purposes.
The FCRA was primarily constituted to guard the privacy of the consumer report information and to guarantee that the information that is printed on the report by the bureaus and agencies is precise. An amendment was made to the FCRA on 30th Sep 1997 stating that more and more obligations should be imposed on employers who use consumer reports. The Congress advocated this step, as they felt that inaccurate and incomplete consumer reports can cause someone his job or may be even his promotions.
The amendments made it clear that
individuals must be informed that the employer is checking his credit report and more importantly he should agree to it.
individuals have the right to be informed if the information in the credit report has negative influences on employment decision.
More information about consumer report: -
A consumer credit report consists of personal information along with credit characteristics, character, general reputation, and lifestyle. This report should be prepared by a consumer-reporting agency (CRA) according to the FCRA.
Employers feel safe and satisfied to run a background check on applicant before hiring them for the desired job. Some employers are only interested in your credit payment record, some in driving record and some in criminal records. Depending on your job profile, an employer can even ask for an investigative consumer report. These are types of consumer credit reports if acquired from CRA.
For more information on credit reports and identity theft issues, visit - Free Credit Report
AUGUSTINE