Q. I have a collection on my credit report from a gas utility company. Two years ago, I told them I would pay the entire amount if they would remove it from my CR. When I called, the person said yes and was very eager to inform me they would update to the credit bureaus [...]
Entries Tagged as 'Fair Credit Reporting Act'
I Paid a Collection to Have it Removed – It’s Still on My Credit Report
June 28th, 2011 · 1 Comment · Collection Agencies
Tags: collection agency·Fair Credit Reporting Act·inaccurate information·pay for delete·sue collection agency·unpaid debt
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
My Mom Opened a Credit Card in My Name and Defaulted On It
April 15th, 2011 · 1 Comment · Identity Theft
Q. My mom opened a credit card in my name and defaulted on it. Now What? A. Identity theft by someone you know is the most common type of this crime. The Federal Trade Commission estimated that in 9 percent of all cases of identity theft, a family member or relative was the culprit. That [...]
Tags: bad credit·Credit card·Credit Card Company·defaulted card·Fair Credit Reporting Act·family fraud·id theft·police report
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
