Consumer Credit Reports – equifax experian score

A True Blue Fan from Philly asked:


The potential employer called it a ‘consumer report or investigative consumer report’ in the instructions but it had the FCRA disclosure.

I signed permission to do a background check pre-employment. It is the FCRA background check. I have shady credit only because I had bankruptcy 3 years ago. I was told that cannot be a reason to not be hired.

What else may be checked? I have no criminal background but was fired from a job 16 years ago for illness/missed work.

My last employer said she has not heard from anyone yet and the application/FCRA background check permission was filled out online on 7/31.

I ran a credit check yesterday and there was no inquiry on it.

I called recruiting Friday and they said that they couldn’t tell me anything but that my application was there and active.

Jason

d.a.f.d. asked:


My short sale on my house is going to be going thru next week, which means my house will finally be off of my report meaning 70000 less of consumer debt. The only reason i am selling my house is because I went active duty army, and will not be returning to where i was. I know that short sales can sometimes hurt credit, but do you think that if i write to the credit bureaus and explain the reason why i went through with a short sale, and why i sold my house, it might have a possibility of a better effect on my credit score. My payments were also in perfect standing with the bank for my mortgage.
excuse me, itsjustme, i did not realize that serving my country in the military and iraq is an excuse. i did not ask for you smart comments, i can only imagine what kind of jerk you are

Cathy

shoe1diva asked:


In 2005, me, my mother and my brother, signed a apartment lease for our mother. In 2006, the landlord commenced eviction action against us. Only my mother was served a copy of her summons and complaint, and not my brother or me. Only my mother showed up for the proceedings, and she was evicted. The creditor went back to court, and got a $5,000 judgment against us. We were never notified of the judgment. Now here it is 2010. I was recently approved for a house, the financing and everything went Thur. When the finance company was getting the deed together, it showed that I had this judgment. The judgment is not on my credit, so therefore, I didn’t know that the debt exists. Now the finance company for the house is telling me that I can’t get the house, because of the judgment. Can I sue the creditor, and there attorneys for negligence, and violations of the Wisconsin Consumer Act?

Brad

Wildfire asked:


was paying on a debt and the creditor still wrote it and charged it off. The collection agency’s lawyers wrote to me and I stopped paying the original creditor since I understand if the debt was sold, I could end up paying both the creditor and the collectors. I also wrote the collector’s attorney a letter requesting validation of the debt and stating if validation can be provided that their client owns the debt, I would contact the collection agency to make payment arrangements, but otherwise they needed to cease and desist from any and all collection activities or I’d file against them and their client with the attorney general for violating the fair collection practices act. I never heard from the collection agency, their attorney or the original creditor again. This was a while ago so I don’t think I am being sued,but I got a copy of my credit report and the original creditor reported it as a charge off. The collection agency also reports the debt and their statement reads: “Account information disputed by consumer (meets requirement of the Fair Credit Reporting Act)”. The report is scheduled to remain on my credit until 2014. What does that statement mean and what happens now? Do I pay the original creditor or the collectors or should I not pay at all to avoid restarting the statute of limitations?
I have a mortgage and own my house but that was before this.

Susan

damastarmind3 asked:


I was told by my lawyer that I may call my existing credit card/line of credit creditors and inform them that I would like to request a Payment Deferral for a few months due to financial hardships at the moment. My lawyer told me that they do offer this right now in this economy and that it will have no negative effect on me or my credit report at all as long as I resume making payments after the deferral is over. Please advise me if this is correct. My main issue is to keep my credit report clean.

Gerald

BeatleBiu asked:

Edward C. Reed High School (Sparks, NV) Multimedia Presentation for 2006′s FBLA National Leadership Conference in Nashville, TN. We placed THIRD in the nation with this baby, WHOO! Team: Billy Hong (Technical), Leslie Parawan (Presentation), Yilok Wong (Research)

Jose

*Sara* asked:


I had a job interview this past Thursday that went very well. They told me they would let me know sometime this coming up week if I am offered the position. They had me sign a paper that gave them permission to run a criminal background check and a consumer report (aka, credit check.) However, when mentioning these two screenings there was nothing mentioned or listed about giving me a drug test. Is there a possibility that they could still give me one but didn’t tell me about it?

Please don’t answer if you are going to lecture me on marijuana- I am am extremely responsible adult!

William

Melissa Burton asked:




The credit card application is straightforward and fairly easy for most people to complete. Using the card is easy too – just swipe and sign. Next comes the consumer credit card statement and that stops some people in their tracks.

At first glance, it may be confusing – but not if you understand the terms used on that statement. None of this is a surprise. All of the terms and conditions – as well as the annual percentage rate (APR) – were disclosed to you in the application. Did you read it?

If not, now you know why it was important. Here are the major terms you will find on your credit card statement, so that you can quickly decipher your monthly bill:

APR – the Annual Percentage Rate is what you pay on the balance you owe to the credit card company. Some cards have a fixed APR and others have a variable APR. The variable APR means that the bank or financial institution can change the rate at any time without warning.

This is a way to penalize deadbeats. Fail to make a payment or not make the minimum payment and your APR can go from 12 percent to upwards of 22 percent without warning – and there’s nothing you can do about it, since you signed on the dotted line agreeing to this term.

Due date – This is the date that the payment must be received. Please do not even bother to blame the post office: if your payment arrives even one day late, there is no grace period. Late is late, and late is costly.

Find out the date of the credit card billing cycle. Choose a cycle that coincides with your paycheck, so you know you will have money for the payment. You can find a credit card company that lets you choose the billing cycle date when you fill out the initial application. Most companies let you change the billing date, while others do not.

Minimum Payment – This is the least you can pay to stay current with your credit card debt. If the amount is $21, then send exactly that amount or round up to $25. Do not send $20, or you will not get credited with making the minimum payment. Even a minor dollar difference counts here.

Credit limit – Printed on each monthly statement, the credit limit is the maximum amount that you are approved to charge. This amount is based on your credit history and may be increased periodically if you pay promptly.

Spending over your credit limit may result in your charge being denied or you can be penalized a large fee for the overcharge amount. Either way, its going to cost you too much for that mistake.

Reward or Bonus Points – These points accrue based on a formula that is related to your spending. For example, you might get one reward point for every ten dollars you spend. The points will be tracked on your monthly statement as a running total. Any points used will be subtracted from the total.

If there are any other terms that you do not understand, call your credit card company or refer to the initial agreement you signed to see if you can find out what it means. who wants to pay unnecessary charges?

Peggy

northcaldwellbob asked:

False derogatory entries on your credit reports? These are a plague affecting our nation and our firm has an excellent track record of cleaning up false information on consumer credit reports and getting damages paid to our clients by the credit bureaus and major banks.

Kelly

Japhet Cantos asked:




Credit repair is going to do a majority of the legwork with the credit bureaus and creditors, but what you do when the credit repair is finished may be even more vital when trying to create a strong credit profile. Often Americans assume that the credit repair process was supposed to clean up their credit reports and leave them with excellent credit scores.

The truth is that while credit repair is excellent at stopping any decrease in your scores, it’s going to take some time, some hard work, and a lot of patience to get your financial profile back on track. Companies can challenge your reports’ inaccuracies, settle debts for you, even open up lines of credit for you; but they can’t do everything. You are ultimately going to have to show some initiative if you are truly committed to maximizing your score.

Monitoring Your Reports

You’ve probably seen the commercials or read the advertisements about credit monitoring services, they’re everywhere. There’s a reason for this; it’s never been so important to keep an eye on the accounts being reported to the bureaus. Not only are they used for loan and credit card applications, but an increasing number of employers and property managers are using credit checks as part of their application process.

Whether you choose to pay a monthly fee in order to monitor the bureaus on a constant basis is up to you. All three major credit bureaus – TransUnion, Experian and Equifax – will provide consumers with a free credit report once every 12 months. It is highly advisable to take them up on this free offer. Not inspecting your reports on a regular basis may leave you worse off than you were before you started repairing your credit.

Keeping Balances Low

This is one of the most overlooked aspects of consumers’ credit scores. Your debt-to-limit ratio is a very large percentage of what goes into that score. A debt-to-limit ratio is basically the total amount of money borrowed on open lines of revolving credit compared to the total amount of the limits on those cards. Anything under 20% is considered adequate and should make a positive impact on your scores.

Simply going from a 20% debt-to-limit ratio to having all of your cards maxed out, and vice versa, can change scores by over 100 points. Once you bring the balances down though, make sure you keep them there. The longer the history of sensible credit usage, the higher your scores will peak.

Having a Favorable Profile

The formula which determines your credit score is more heavily guarded than Fort Knox or the colonel’s original recipe. However it is generally accepted that the Americans with first-class credit profiles tend to have anywhere between three and five opened lines of revolving credit, as well an installment loan and mortgage.

There are many consumers who believe that one credit card is all that they’ll ever need. While this does limit your ability to get into too much trouble debt-wise, it may not be optimum in terms of your credit profile. On the other end of the spectrum, shopaholics with a card in their wallet for every store they’ve ever shopped at might want to think about trimming some of the unnecessary accounts out of their lives (being careful of course not to lower the overall age of your accounts)

If your credit profile was really damaged, you may have to start with a secured credit card. While they are very useful to the rebuilding process, the fees can be a bit much. Use them for a few months to demonstrate your newfound responsibility, and then open another line of credit that won’t be so expensive.

Budgeting and Savings

This is perhaps the most difficult undertaking once the credit repair is done with. However, now that you’ve started on the road to a better financial future, you don’t want to have to take a step back because you continue to spend frivolously. On top of that, unexpected events are going to happen that would create a financial burden; but if you have the money saved away you may just be able to come away unscathed. Thankfully, if you’ve planned ahead, your credit profile will not suffer as a result.

There are plenty of simple budgeting websites online, or you could always consult with your personal bank as to tips on saving and budgeting. Not enough Americans budget and this is what leads them down a path where they end up needing credit repair. If you’ve already repaired your credit, learn from your mistakes and put in the time that budgeting is inevitably going to take. You’ll be happy that you did.

Be Patient

None of this is going to be done overnight so don’t expect miracles in a short period of time. You need to be patient and understand that the longer you keep up your good habits, the more your credit score should increase and the more savings you should have put away. It’s a fairly simple blueprint for success, but it’s sometimes hard to stick to it. Remember to always keep your goals at the forefront of your mind and you will be successful.

Maureen