Q. After settling w/a collection agency in March of this year, I thought everything was fine. My credit reports were updated a month later showing that the debt was paid. Yesterday, I noticed that the credit bureau is re-reporting the debt as owing. I do have proof of the settlement: the settlement offer letter and [...]
Entries Tagged as 'Credit Bureaus and Scores'
Collection Agency Trying to Get Me to Pay After I Already Settled
May 17th, 2011 · No Comments · Credit Bureaus and Scores, Debt Settlement
Tags: collection agency·credit bureau·credit report·Debt Settlement·FCRA·FDCPA·reinsertion of information
Does Canceling a Credit Card Hurt My Score?
April 26th, 2011 · No Comments · Credit Bureaus and Scores, Credit Cards
Q.I have a credit card with outrageous annual fees and an incredibly short grace period. It’s my oldest card and I’m afraid that canceling it will bring down my credit score. A. If you cancel a card, mostly likely nothing will probably happen to your credit score immediately. Your credit history for this card will [...]
Tags: credit card account·credit report·Credit Score·credit score factors
The Effect of a Short Sale Vs. a Foreclosure on Credit Scores
April 19th, 2011 · 1 Comment · Credit Bureaus and Scores, Mortgages
I’ve heard many people say that a short sale is much better for your credit than a foreclosure. I’ve heard people say a short sale only stays on your credit for 3 years. Neither statement is true. A short sale is a black mark that stays on your credit for 7 years, just like a [...]
Tags: credit report·Credit Score·delinquent payments·Fair Credit Reporting Act·foreclosure·Short Sale
The History of the Credit Score
March 22nd, 2011 · 2 Comments · Consumer Info, Credit Bureaus and Scores
Credit Scoring has gone a long way since we started covering in it 1997. Several major updates to scoring, most notably the rewriting of the Fair Credit Reporting Act have happened in the last 10 years. Apparently this small period of time is only a sliver in the pie of the total credit score history. [...]
Tags: Credit Score·Fair Credit Reporting Act·freescore.com·history of credit score
