Credit Score FAQCredit Score PortalCredit ScoreQuestion: Credit report? Answer: Depends on the dollar amounts of the debts you owe. If it is relatively small, then you want to work with the collection agencies on a case-by-case basis. All communication to the collection agencies should be in writing. DO NOT handle this matter via the telephone. It wouldn't hurt to contact the local Consumer Credit Counseling Center to get a better assessment to how to approach your delinquent debts as well.
Question: How do we report an unpaid civil judgement to the credit bureau? Answer: The credit bureaus routinely check these public records, so they will likely find it, if they haven't already.
Question: What's the best website to go to get a FREE credit report without the hassles? Answer: annualcreditreport.com.. Its sponsered by the government.. you get one free report per year
Question: Why is it so difficult to bring up the free credit report? Answer: there're is one site that is supose to be free.... www.annualcreditreport.com I'm not in the U.S. now so each time I try and check the site is "missing"... I think it's because they know I'm checking from a computer outside of the U.S.
Question: Credit score? Answer: To go from 558 to 700 will take several months of good hard credit management. Pay your credit cards down to under 30% of your limit and keep them there. Use them for every day things, never exceed 30% of your limit and always pay in full before the due date. I did this with 2 credit cards and raised my score over 150-points in 12-months.
Question: What credit score is needed to get the best fixed rate for consolidating accounts? Answer: There are ways to improve the score within a week and position the file for a better rate than you will get with that score. I write a blog and covered this. Check it out.
Question: Can someone check my credit without my social security number? Answer: No they can't pull your credit without your SSN. It's the SSN that makes you unique
Question: Why did the free credit check ask me for a credit card number? Answer: Because you went to a website that aims to deceive people about getting free credit report Go to http://www.annualcreditreport.com This is the TOTALLY FREE website that will not even ask for your credit card number. The federal Fair Credit Reporting Act (FCRA) http://www.ftc.gov/os/statutes/031224fcra.pdf requires that U.S. consumers be entitled to a free credit report each year. The government’s goal is to make sure that consumers stay informed, fight identity theft, and get fair treatment. This is the government mandated website where you can get 1 free credit report from the 3 agencies for free in one year. Go to this website and you can get your credit report from the 3 credit agencies
Question: What is the best Credit Repair Service? Answer: Ok, this is what i can say, yes credit repair companies can only do what you can do yourself, but like myself there are many other people out there that dont have them time to go 10 times to the post office and send off letters to all credit bureaus and all creditors that are listed on a credit report, sure you can, but you can also fix your own car, mow your own lawn and home school your kids but you dont. Instead you decide to use a professional. I went and obtained all 3 of my credit reports, and then i seeked a professional, i used www.fastcreditsolutions.net My results were awesome they deleted a bunch of old collections and some late payments on my car loan. They are pretty cheap and have awesome customer service, you can contact them below.
Question: Are there any credit repair techniques that really work to erase the effects of chapter 7 filing? Answer: The best credit repair technique is to pay all bills subsequent to your bankruptcy on time. Give yourself about 24 months to rehabilitate your credit through timely progress payments. However, do NOT expect the bankruptcy to fall off of your credit report until the 10 year statute of limitation has expired. That is why bankruptcy is a choice of very last resort. It stays on your credit report for a decade.
Question: Identity Theft? Answer: I have been a victim of ID theft. If this is the case, you need help! Most ID Theft protection plans only cover credit theft (the easiest) when there are actually 3 more types social security, criminal, and medical. Here is a link to the ID theft protection plan I use, it covers all 4 types and is the best I know of: http://BestIDTheftProtection.info
Question: How do I file an identity theft alert for my sons and myself? Answer: You have to write or call each of the three credit history services. They each should have a fraud hotline. You can request a fraud alert placed on each of the SSNs in question. Equifax: P.O. Box 740241 * Report fraud: Call 1-800-525-6285 and write to the above address. Experian: P.O. Box 9532 * Report fraud: Call 1-888-397-3742 and write to the above address. Trans Union: P.O. Box 1000 * Report fraud: Call 1-800-680-7289 and write to: Fraud Victim Assistance Division, P.O. Box 790, Fullerton, CA 92634.
Question: What is the difference between FICO and Risk Score? So which is more accurate and likely to be seen by the lenders? It also lists this as one of the reasons why my score is lower: Too few recently opened bank installment accounts (Reason 41) Is this referring to car loans? Answer: Okay... I see a couple of misconceptions about the risk score versus FICO score... Risk score - statistical model (all vary) between credit bureaus to try to come up with a grading profile based on population sampling.. Putting it simply -- they try to grade your spending habits/debt/activity against the rest of the country (in a quantitative figure).. I cannot measure your Sears account, etc.. They utilize different %'s to grade each category - inquiries, revolving debt, installment accounts, etc.... FICO - Score based on statistical model from Fair Isaac Corporation. Funny thing.. this scoring model was created by Equifax. It is widely used today in completing of many higher $$ transactions (i.e. mortgage). A FICO score looks at what is on your credit report, but is different because the scoring model is applied the same over all three credit bureaus.... Now, anytime you take on new debt, your score will dip temporarily. They have to penalize you for obtaining new debt because their studies show that new debt means more risk of not being paid.. more bills means less free cash. Yes, this can refer to a car loan if you recently got one. Give it 6 - 12 months and this will improve. Finally, a FICO score is provided by Fair Isaac Corporation (not Transunion). Transunion probably sold the score to you, but it was Fair Isaac Corp's statistical model looking at your activity on your Transunion report.
Question: How many FICO points can I gain in one year? Answer: It takes about 6 months of regular payment and your score will shoot up about 200 points in about a year if you keep it up.
Question: Who actually sends info to the credit bureaus: creditors or collections agencies? If the account is payed in full not long after the account was forwarded to collections, do they still report it? They have not reported it at the moment and it's been about a month. Also, is it better to pay the original org or the collections agency? Answer: They both will. The original creditor will list the account as a charge-off with a 0 balance. The collection agency will list the account with the amount due. Usually the collection agency will send you out a letter asking you if the debt is yours. By default if you don't dispute it in 30 days they consider it valid and will post the account on your credit report. If you pay it within the 30 days there is a good chance that they will not report it, but again it is best to have this in writting before you send a payment. As to who you pay. If the account is charged-off and sold to the collection agency you legally can no longer deal with the original creditor and must deal with the collection agency. When you talk to the collection agency it is best to get them to delete the collection account with payment. However, be sure to have this in writting from them before you send any money. Question: How long have credit bureaus been in existence? Answer: If I remember correctly it was 1968. Scores are based on the following factors; 1. Payment history 35% As far as how much weight they have, that depends, if you are one of those that can afford to pay cash for whatever you want or need they carry no weight, but if you are like the rest of us that muct finance when we buy cars, boats or homes then they have tons of weight. No pun intended.
Question: Credit Rating? Answer: okay speaking from a person who has improved there credit. if your really really late on something and close to 7 yrs since you incurred the debt..dont pay it if you pay one red cent your in for another 7 yrs wait em out and if they want to settle make em play ball and pay little or nothing on it..also make them agree to remove it if your going to pay it off otherwise they will screw you by keeping it on your report
Question: How soon is your credit rating affected after phoning to close a credit card? Answer: The credit card companies make non-rush reports periodically, not immediately. They may do it weekly, or twice a month.
Question: Credit history? Answer: You can start building a credit history as soon as you can have accounts in your own name. All the answers you've received thus far are correct. Something to remember is that credit history takes a long time to build, but not long to destroy. Good credit history means paying your bills on time and ahead of time. It's always good to pay more than your minimum payment on loans and credit cards. Another good tidbit of information is this: When most creditors run your credit, they weigh recent activity most heavily. They will see what your recent trends are. How have you been doing the last 6 months or 1 year? If you did well for 5 years, but you've been missing payments for 6 months, forget about that loan. The best thing to do is keep paying bills on time or ahead of time and don't spend more than you make.
Question: How much credit history do I need to get a mobile phone on contract? I am trying to get a mobile phone on contract. As I had no credit history I started paying with a credit card, repaying everything every month. I have been using my credit card for a couple of months now. Answer: i didn't have a credit history when i go my first contract as long as your over 18 your fine.
Question: Credit reporting? Answer: I would request the item be removed through the credit reporting agency(s) that are reporting the error to see if it can be removed/corrected. By law the agency cannot report a payment made to an account to keep you on the credit report without an actual payment being recieved and posted to the account in collection. First try to submit a request directly to the reporting agency, such as Transunion, Equifax or Experian. It should say on your report which one(s) are reporting this tradeline with a payment made. If that doesn't work you should try to contact them or get a letter from a credit repair attorney. That will usually get their attention and they will report it correctly. Let me know if I can help any further I have over 10 years experience with credit.
Question: Is there a credit reporting agency that will accept credit reports from a small business w/o charging a fee? Answer: You have to pay but you also get a discount/credit for information that you supply to the credit bureau about your customers. I was thinking about this once but the terms and conditions seemed pretty sleazy to me so I never followed thru. Also, if you have signed contracts or even invoices, a collection agency will try to collect and if they succeed, they'll give you a decent percentage of what they collect. If I remember correctly there's some kind of base fee or minimum volume requirement for this which makes it uneconomical at extremely low volumes.
Question: Transunion? Answer: Check out my source link for more details on myFICO services, which offers you your score and report from TransUnion for $15.95. On my source link, check out the FICO Standard Plan, which gives you your score and report from your choice of the 3 major credit bureaus, and then choose to receive your info from TransUnion. Hope this helps.
Question: TransUnion deleted accounts how do I get the other two Bureaus to do the same? Answer: If they are the same accounts and you disputed recently, try contacting the creditor/collection agency reporting the accounts and requesting the information they used to answer your dispute. Compare the information they send you with the information you already have and see if there is anything else you can use against them in another dispute.
Question: Experian?? Answer: Go to the link below. (yell.com) I've found the address for you. Hope this helps
Question: Why is my Experian credit score different on the TransUnion website? Answer: Because each of the credit bureaus has different information on their reports. Therefore, there will be some variation in the score with each of the 3 bureaus.
Question: How is the "Average Account Age" in the Equifax credit report calculated? Answer: I believe it is oldest account (in month) plus newest account (in month) divided by 2. Card 1: 24 month
Question: What is the quickest way to dispute with equifax? And, how do I insure they are promt on my dispute? Answer: If you have already filed a dispute, all you can do now is wait. Equifax will forward your dispute to the creditor and has to give them 30 days to respond. Keep in mind that the creditor does not have to provide any sort of proof. All they have to do is say, yes that's right. If you are under a time constraint, you may want to dispute the item with the creditor at the same time. Send the creditor a certified, return receipt letter requesting validation of the debt to include copies of contracts or other documents that prove the debt is yours. You have to give them 30 days to respond. If they don't validate and the item isn't removed from your file, send another dispute to Equifax with a copy of your validation request attached, indicate they failed to validate. That should get it removed. If they do validate, you should have the proof needed of the error and can dispute with the creditor and Equifax. Unfortnately, all of this will take a minimum of 45 days.
Question: Does being enrolled in a Credit Monitoring service get you more easily approved for credit cards? I am offered this service for free for one year through my job, and i would like to know if being enrolled in a Credit Monitoring service which includes total protection from identity theft, can improve your chances when applying for credit cards and loans. Or is it simply just good for protecting you from fraudelent charges? Answer: It just tells you when an inquiry is made, or something got added, or deleted.
Question: How long does it take a credit monitoring service to discover a new account has been opened? Answer: The credit reporting monitoring service will usually notify you of activity in a short time frame say 24 to 48 hours, check the FAQ on the credit bureau monitoring service where you signed up. A new account can take 60 to 90 days to appear on your credit report. Many lenders submit there updates from the prior month in the first week of the new month. http://www.aboutmycredit.com/
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