Posts Tagged People
GoOD PeOPLE.I DeSPERATELY NeED YoUR DiVINE WiSDOM AnD KnOWLEDGE?
DIONN asked:
Im praying that there is someone out there that has successfully cleaned up/ did some damage control to their personal credit report thru valuabe web advice that i can print, study as well as APPLY!! My financial future depends on this. GOD bless you ALL in advance for some great advice, techniques and resources!!!
Jeffery
Im praying that there is someone out there that has successfully cleaned up/ did some damage control to their personal credit report thru valuabe web advice that i can print, study as well as APPLY!! My financial future depends on this. GOD bless you ALL in advance for some great advice, techniques and resources!!!
Jeffery
Keep An Eye On Your Credit: How Often Should You Review Your Credit Report?
Jay Delgado asked:
There is no doubt that your credit report contains a lot of information that can have a direct impact on your lifestyle. It is also true that other people are reviewing your credit file and making judgments about you and your ability to repay. What do they see? Should you be at all concerned about the information is included in your credit report? You should be very concerned with the information included in your credit report because it has a direct impact on your life. The information on your credit report can break you or make you and it does not go away overnight.
Regularly reviewing your credit report is not only a great way to keep tabs on how well you are doing financially; it is also a great way to protect yourself from identity theft and credit reporting errors. Did you know that 25% of credit reports contain errors that are serious enough to cause a denial of credit? Keep in mind that these are just the serious errors. More than three quarters of credit reports contain errors due to typing mistakes, misinformation and human error.
Credit reporting agencies know that their system is not fool proof, so they have set in place avenues that people can use to have incorrect information removed from their credit report. But you can not have information removed if you do not know it is there in the first place.
Most financial advisers recommend that you should review your credit report every 90 days or four times per year. You are entitled to one free credit report from each of the three major reporting bureaus, Experian, Equifax and TransUnion, each year. So, that is three out of four, right? Not exactly.
You see not all lenders report to all agencies. This means that your report from Experian could look completely different from a report issued by Equifax. One report might contain errors while the other is spot on. The only way to know for sure is to pull all three reports and compare them at the same time. This should be done every 90 days.
If you absolutely cannot afford to purchase reports from the agencies three times a year, you can stagger your free credit reports throughout the year. Keep in mind, though, that you may not be seeing the whole picture.
How much do credit reports cost? Depending on the bureau, you can be charged up to $10.50 for your credit report. So you are looking at roughly $90 a year to keep tabs on your credit. Remember; these fees do not include your credit score. You will also NOT be supplied a credit score along with your free reports. If you want to know your credit score, you can request it but it will cost you about $5 to $7.
Ninety dollars a year may sound steep, but not knowing could be costing you much more. You could be overpaying thousands of dollars in interest payments each year because of something on your credit report that you do not know about.
ESTEBAN
There is no doubt that your credit report contains a lot of information that can have a direct impact on your lifestyle. It is also true that other people are reviewing your credit file and making judgments about you and your ability to repay. What do they see? Should you be at all concerned about the information is included in your credit report? You should be very concerned with the information included in your credit report because it has a direct impact on your life. The information on your credit report can break you or make you and it does not go away overnight.
Regularly reviewing your credit report is not only a great way to keep tabs on how well you are doing financially; it is also a great way to protect yourself from identity theft and credit reporting errors. Did you know that 25% of credit reports contain errors that are serious enough to cause a denial of credit? Keep in mind that these are just the serious errors. More than three quarters of credit reports contain errors due to typing mistakes, misinformation and human error.
Credit reporting agencies know that their system is not fool proof, so they have set in place avenues that people can use to have incorrect information removed from their credit report. But you can not have information removed if you do not know it is there in the first place.
Most financial advisers recommend that you should review your credit report every 90 days or four times per year. You are entitled to one free credit report from each of the three major reporting bureaus, Experian, Equifax and TransUnion, each year. So, that is three out of four, right? Not exactly.
You see not all lenders report to all agencies. This means that your report from Experian could look completely different from a report issued by Equifax. One report might contain errors while the other is spot on. The only way to know for sure is to pull all three reports and compare them at the same time. This should be done every 90 days.
If you absolutely cannot afford to purchase reports from the agencies three times a year, you can stagger your free credit reports throughout the year. Keep in mind, though, that you may not be seeing the whole picture.
How much do credit reports cost? Depending on the bureau, you can be charged up to $10.50 for your credit report. So you are looking at roughly $90 a year to keep tabs on your credit. Remember; these fees do not include your credit score. You will also NOT be supplied a credit score along with your free reports. If you want to know your credit score, you can request it but it will cost you about $5 to $7.
Ninety dollars a year may sound steep, but not knowing could be costing you much more. You could be overpaying thousands of dollars in interest payments each year because of something on your credit report that you do not know about.
ESTEBAN
Credit Report Myths You Need to Know
Posted by admin in Non Fiction on October 24, 2009
John Mcfadden asked:
There is an increasing amount of wrong information and scams that are getting people in trouble when getting their credit report. Know the Myths what is the key information.
If I check my credit report will that harm my score?
While is if false that check this will damage your report it can if you access it the wrong we, be careful who you use to check your report, for example using a company that promises credit reports as a benefit can actually do you damage.
There are two types of ways you can access your report – one is a hard pull and other is a soft pull. A hard pull is when a bank or lender calls up to see if they cant grant you credit this is marked down as a hard pull. When you call up to get your report or score it’s only classed as a soft pull.
Only citizens can go directly to the three bureaus and get their score – if a company acts on your behalf and they do it incorrect then that will hurt you – make sure you insist this in your agreed terms.
My Credit score will be Locked in for six months.
This is incorrect, your score is a living dynamic piece of information that is updated instantly. As soon as an updated piece of information hit the FICO database (Fair Isaac Corp) your file will then be updates.
Each Credit Report are the same as each other.
This is probably one of the biggest myths out there, people think they just need to access their credit report form one of the main bureaus and then they will have all the correct information – this is incorrect in two ways.
Firstly, most Creditors report their information on you but this was not the case in the past – so many credit reports don’t have all your information, and even if they somehow do have all this financial information then your personal details will no doubt be incorrect.
The creditors might report your information to all 3 bureaus they will not update your information to all 3, so there’s a good change your address or other personal information is wrong and outdated, so you need to get your credit report form all three bureaus.
The best way to do this is get them all at the same time then get updated copies for each one individually every 4 months – this way you can be sure you have all your information and can go about correcting and updating it.
You will ant to do this so you give yourself the best possible chance of getting a loan and making sure they have the correct information.
Credit Counseling can destroy Your Credit Score
This is false but you need to be aware of a few additional things.
You need to be sure how a renegotiated loan is being reported. When you attend a Credit Councilor Debt Management program you need to be sure that the lender correctly reports that you are now paying a lesser amount so the original amount need to be readjusted so you don’t get marked down as being in arrears.
I hope a few Credit Report Myths have been cleared up.
STEPHEN
There is an increasing amount of wrong information and scams that are getting people in trouble when getting their credit report. Know the Myths what is the key information.
If I check my credit report will that harm my score?
While is if false that check this will damage your report it can if you access it the wrong we, be careful who you use to check your report, for example using a company that promises credit reports as a benefit can actually do you damage.
There are two types of ways you can access your report – one is a hard pull and other is a soft pull. A hard pull is when a bank or lender calls up to see if they cant grant you credit this is marked down as a hard pull. When you call up to get your report or score it’s only classed as a soft pull.
Only citizens can go directly to the three bureaus and get their score – if a company acts on your behalf and they do it incorrect then that will hurt you – make sure you insist this in your agreed terms.
My Credit score will be Locked in for six months.
This is incorrect, your score is a living dynamic piece of information that is updated instantly. As soon as an updated piece of information hit the FICO database (Fair Isaac Corp) your file will then be updates.
Each Credit Report are the same as each other.
This is probably one of the biggest myths out there, people think they just need to access their credit report form one of the main bureaus and then they will have all the correct information – this is incorrect in two ways.
Firstly, most Creditors report their information on you but this was not the case in the past – so many credit reports don’t have all your information, and even if they somehow do have all this financial information then your personal details will no doubt be incorrect.
The creditors might report your information to all 3 bureaus they will not update your information to all 3, so there’s a good change your address or other personal information is wrong and outdated, so you need to get your credit report form all three bureaus.
The best way to do this is get them all at the same time then get updated copies for each one individually every 4 months – this way you can be sure you have all your information and can go about correcting and updating it.
You will ant to do this so you give yourself the best possible chance of getting a loan and making sure they have the correct information.
Credit Counseling can destroy Your Credit Score
This is false but you need to be aware of a few additional things.
You need to be sure how a renegotiated loan is being reported. When you attend a Credit Councilor Debt Management program you need to be sure that the lender correctly reports that you are now paying a lesser amount so the original amount need to be readjusted so you don’t get marked down as being in arrears.
I hope a few Credit Report Myths have been cleared up.
STEPHEN
Does marriage effectively tie your credit with your spouse’s?
Gretchen K asked:
Let’s say two people are getting married. They both have good credit, hurray! The wife keeps her maiden name. They have separate checking accounts, credit cards, and have utilities, etc. in separate names. They currently do not own a home together.
Let’s say two people are getting married. They both have good credit, hurray! The wife keeps her maiden name. They have separate checking accounts, credit cards, and have utilities, etc. in separate names. They currently do not own a home together.
From here on out, are their credit histories totally tied? If someone runs a credit check on her, does it also bring up his credit report? Or are the two credit reports meshed into one?
And what happens if one of them starts to run up credit card debt? If the husband does this in his name with his own card, will his debt also affect the wife’s personal credit rating?
ASHLEY
How do business credit cards affect personal credit?
Drake G asked:
Hi, I ask this mostly out of curiosity. I have a business card from Chase. I’m not 100% sure why I have it considering that I don’t have a business, but oh well. Anyways, the thing is that they just sent me a notice saying that they have to raise my interest rate to make a profit. I’ve always paid my card on time and I always pay more than the bare minimum. I know this is my chance to get out of my agreement, but I am pretty ticked off considering all of the bailout money that these companies just got. It’s crazy that people with good credit that are being responsible are getting hit for the mistakes of others. Anyways, I was wondering how would this affect my personal credit if at all? If I remember correctly, I never see this card or account listed on my credit reports.
For Pojo…It is in my name. There is no and has never been a business attached to it. I just got it in the mail one day and decided to apply for it and they gave it to me just using my own basic info.
Create a video blog…instantly.
Hi, I ask this mostly out of curiosity. I have a business card from Chase. I’m not 100% sure why I have it considering that I don’t have a business, but oh well. Anyways, the thing is that they just sent me a notice saying that they have to raise my interest rate to make a profit. I’ve always paid my card on time and I always pay more than the bare minimum. I know this is my chance to get out of my agreement, but I am pretty ticked off considering all of the bailout money that these companies just got. It’s crazy that people with good credit that are being responsible are getting hit for the mistakes of others. Anyways, I was wondering how would this affect my personal credit if at all? If I remember correctly, I never see this card or account listed on my credit reports.
For Pojo…It is in my name. There is no and has never been a business attached to it. I just got it in the mail one day and decided to apply for it and they gave it to me just using my own basic info.
Create a video blog…instantly.
Am I still liable for debt that no longer shows up on my credit report?
Richard_CA asked:
I had several accounts of debt that I was responsible for from the early to mid 90s. These debts consisted of a home ($120,000), a central heating/central air unit installed in the home ($15,000). A water softener system also installed in the home ($5000). Personal Loans – one was secured by household goods for $4000 and one was not – another $4000. And credit card debt for $850. I stopped paying these loans back in 1995 and stopped paying my credit card in 1997 because my debt exceeded my income. I could not take the house or the water softener or the central heating/air unit with me, so why pay for it. I get letters every once in a while from these people still trying to collect and I always ignore it. None of these items appear on my credit report, and I’ve been told that my credit report is excellent with a credit score of over 800. Can anyone tell me if these bill collectors can come after me for the balance owed almost 15 years ago?
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I had several accounts of debt that I was responsible for from the early to mid 90s. These debts consisted of a home ($120,000), a central heating/central air unit installed in the home ($15,000). A water softener system also installed in the home ($5000). Personal Loans – one was secured by household goods for $4000 and one was not – another $4000. And credit card debt for $850. I stopped paying these loans back in 1995 and stopped paying my credit card in 1997 because my debt exceeded my income. I could not take the house or the water softener or the central heating/air unit with me, so why pay for it. I get letters every once in a while from these people still trying to collect and I always ignore it. None of these items appear on my credit report, and I’ve been told that my credit report is excellent with a credit score of over 800. Can anyone tell me if these bill collectors can come after me for the balance owed almost 15 years ago?
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