Civil Judgment – Easy Removal From Credit Report
Posted in Free Resource on 12/30/2010 10:00 am by
Archive for December, 2010
Free 3 Credit Bureau Reports – Where To Get Your Free Credit Scores Onilne
Posted in Blank Type on 12/27/2010 06:51 pm by
How to Read an Equifax Credit Report
Posted in Communications on 12/25/2010 04:02 pm by
Delia Galley asked:
The Fair Credit Reporting Act (FCRA) requires each of the Nationwide Consumer Reporting organizations (Equifax, TransUnion and Experian) to provide you with one free credit report every 12 months per your request. This means that you are entitled to three free credit reports per year, if you deem it necessary. You can stagger the requests or order all of them at the same time.
Each of the National Consumer Credit Reporting bureaus have a unique credit report format, but in essence they provide you with the same information. When you receive your free Equifax credit report use the following guidelines to read your report:
Personal Information
This section will detail your personal information: Name, Social Security Number (SSN), date of birth, any former names, death notice information, current address, previous addresses, any other identification numbers that you may have, current employer and previous employers.
You will also find information about any fraud alerts that you may have against your credit report.
Account Information Summary
You’ll find a list of all your accounts here. Additional information will include account type, account number, date account was opened, account balance, any past due amount, account status and credit limit.
Inquiries
Any inquiries against your credit file will be listed in this section. This section is divided into two subcategories: (a) Inquiries that display to companies and may impact your credit score. (b) Inquiries that do not display to companies and do not impact your credit score.
“Inquiries that display to companies and may impact your credit score”
These are inquiries by potential creditors who are assessing whether to extend you a line of credit or not. Your credit score will be minimally affected and therefore these inquiries should not be of major concern, unless there are some red flags. The name of the company that requested the information and the date they requested it will be listed.
“Inquiries that do not display to companies and do not impact your credit score”
Unlike the previous inquiries – these do not “hurt” your credit score. They include inquiries for pre-approved credit lines, insurance, or account reviews by existing creditors. The name of the company that requested the information, the date they requested it and the type of inquiry will be listed.
Collections
Any accounts that have gone to collections will be listed here along with the name of the creditor, date reported, creditor type, your account number, original amount, dates of delinquency, outstanding balance and status information.
Public Records
Bankruptcies, liens or judgments information from federal, state or county court records will be listed here. Each public record will indicate the type of record, case number, amount in default and any relevant information associated with that particular case.
You may also find the following credit report terms helpful:
CURR ACCT – Account is current in payments and in good standing.
The Fair Credit Reporting Act (FCRA) requires each of the Nationwide Consumer Reporting organizations (Equifax, TransUnion and Experian) to provide you with one free credit report every 12 months per your request. This means that you are entitled to three free credit reports per year, if you deem it necessary. You can stagger the requests or order all of them at the same time.
Each of the National Consumer Credit Reporting bureaus have a unique credit report format, but in essence they provide you with the same information. When you receive your free Equifax credit report use the following guidelines to read your report:
Personal Information
This section will detail your personal information: Name, Social Security Number (SSN), date of birth, any former names, death notice information, current address, previous addresses, any other identification numbers that you may have, current employer and previous employers.
You will also find information about any fraud alerts that you may have against your credit report.
Account Information Summary
You’ll find a list of all your accounts here. Additional information will include account type, account number, date account was opened, account balance, any past due amount, account status and credit limit.
Inquiries
Any inquiries against your credit file will be listed in this section. This section is divided into two subcategories: (a) Inquiries that display to companies and may impact your credit score. (b) Inquiries that do not display to companies and do not impact your credit score.
“Inquiries that display to companies and may impact your credit score”
These are inquiries by potential creditors who are assessing whether to extend you a line of credit or not. Your credit score will be minimally affected and therefore these inquiries should not be of major concern, unless there are some red flags. The name of the company that requested the information and the date they requested it will be listed.
“Inquiries that do not display to companies and do not impact your credit score”
Unlike the previous inquiries – these do not “hurt” your credit score. They include inquiries for pre-approved credit lines, insurance, or account reviews by existing creditors. The name of the company that requested the information, the date they requested it and the type of inquiry will be listed.
Collections
Any accounts that have gone to collections will be listed here along with the name of the creditor, date reported, creditor type, your account number, original amount, dates of delinquency, outstanding balance and status information.
Public Records
Bankruptcies, liens or judgments information from federal, state or county court records will be listed here. Each public record will indicate the type of record, case number, amount in default and any relevant information associated with that particular case.
You may also find the following credit report terms helpful:
CURR ACCT – Account is current in payments and in good standing.
CUR WAS 30-2 – Account is current was 30 days late twice.
PAID – Account has been paid off and has a $0 balance and is inactive.
CHARGEOFF – Unpaid balance on account was reported as a loss by creditor and the creditor is no longer seeking reimbursement.
COLLECT – Account is severely delinquent and assigned to collections.
FORECLOS – Property was foreclosed.
BKLIQREQ – Debt was forgiven due to Chapter 7, 11 or 13.
DELINQ 60 – Account is 60 days delinquent.
INACTIVE – Account is inactive.
Sample Equifax credit report
George
How to Interact With Credit Bureaus
Posted in Finance on 12/24/2010 02:57 pm by
William S Bailey asked:
While it is possible living without a good credit score, it will certainly make your life much harder. All of us need it in order to buy or rent a home, car, have a credit card etc.
Credit bureaus hold the keys of our credit score. There are only a few credit bureaus in the US and through them all our reports are processed. They handle all the information that any of your creditors submits to them and by using this information your credit report is created.
In case that your credit history is not so good, you will have to start with a credit repair. To do this you are going to have to study how to interact and deal with credit bureaus.
1. First thing that you need to do is to find out exactly which credit bureau contains your file. It is very simple, just take a look at one of the rejection letters that you have received when you applied for credit. In the letter besides other information will be stated which bureau provided has provided your credit report.
2. For the next step you are going to need to get your credit report. It is free to obtain it once per year or every time your credit application has been denied. Be aware that sometimes credit companies can imply that you should always pay for a credit report, but in fact you have to pay for it only in case that you want it right away.
Credit bureaus are basically information collectors and sellers. Because of that you should never provide them with any information that you are not legally obliged to do. And by the law the only info you need to provide is: name, legal address and your social security number.
In some cases bureaus will request of you to provide a social security card copy and a copy of a document that proves your current address, this will happen only in case that your address is different from the one they have on your file.
Sometimes they can also ask you for a copy of your drivers license as proof of your address, just send them a copy of some bill with your address on it. Credit bureaus are the owners of numerous collection agencies, and in case that you have credit problems you should provide them with the smallest amount of info you legally can. Otherwise they can use it to harass you with it.
3. When you get it, check it out carefully for any mistakes. If there are some mistakes in your report, send a letter to the credit bureau in which you request that those mistakes be removed from your report.
Credit bureaus are obligated by law to prove that any item on your report is correct, if they can not do that within 30 days limit, then they must remove it. This is, in most cases, the thing that many credit repair companies will do for you and they are going to charge you dearly for it.
Many times negative items are several years old and hard to verify so they have to be removed from your credit report. You should know that you can save a lot of money if you decide to go through this process alone.
You will need a lot of patience, time and willingness to learn but it can be done. Besides you are going to learn a lot about finances in the process and it can be of great help to you in the future.
Vera
While it is possible living without a good credit score, it will certainly make your life much harder. All of us need it in order to buy or rent a home, car, have a credit card etc.
Credit bureaus hold the keys of our credit score. There are only a few credit bureaus in the US and through them all our reports are processed. They handle all the information that any of your creditors submits to them and by using this information your credit report is created.
In case that your credit history is not so good, you will have to start with a credit repair. To do this you are going to have to study how to interact and deal with credit bureaus.
1. First thing that you need to do is to find out exactly which credit bureau contains your file. It is very simple, just take a look at one of the rejection letters that you have received when you applied for credit. In the letter besides other information will be stated which bureau provided has provided your credit report.
2. For the next step you are going to need to get your credit report. It is free to obtain it once per year or every time your credit application has been denied. Be aware that sometimes credit companies can imply that you should always pay for a credit report, but in fact you have to pay for it only in case that you want it right away.
Credit bureaus are basically information collectors and sellers. Because of that you should never provide them with any information that you are not legally obliged to do. And by the law the only info you need to provide is: name, legal address and your social security number.
In some cases bureaus will request of you to provide a social security card copy and a copy of a document that proves your current address, this will happen only in case that your address is different from the one they have on your file.
Sometimes they can also ask you for a copy of your drivers license as proof of your address, just send them a copy of some bill with your address on it. Credit bureaus are the owners of numerous collection agencies, and in case that you have credit problems you should provide them with the smallest amount of info you legally can. Otherwise they can use it to harass you with it.
3. When you get it, check it out carefully for any mistakes. If there are some mistakes in your report, send a letter to the credit bureau in which you request that those mistakes be removed from your report.
Credit bureaus are obligated by law to prove that any item on your report is correct, if they can not do that within 30 days limit, then they must remove it. This is, in most cases, the thing that many credit repair companies will do for you and they are going to charge you dearly for it.
Many times negative items are several years old and hard to verify so they have to be removed from your credit report. You should know that you can save a lot of money if you decide to go through this process alone.
You will need a lot of patience, time and willingness to learn but it can be done. Besides you are going to learn a lot about finances in the process and it can be of great help to you in the future.
Vera