Mike Clover asked: Your credit score report can be affect by more than your available credit history. We talk about how credit cards, mortgages, car loans, and any type of loan that reports to all 3 credit bureaus will affect your credit score. We don’t always talk about utility companies and how they can have [...]
Jeremiah Perez asked: Experian – TransUnion – EquifaxThere are 3 major private, for profit Credit Reporting Agencies (CRA’s) also known as Credit Bureaus who gather information about consumer credit and their usage. The three major credit agencies are Equifax, Experian, and TransUnion. They accumulate all consumer financial transactions and inquires from all possible sources. The [...]
Tim Bock asked: Many times people are unaware of exactly what’s in their credit report, let along if there’s a collection account in there. There are usually 1 or 2 reasons why a collection account may exist.- The account went to collections – Mistaken identityFortunately it’s not the end of the world. There are steps [...]
Helen Hecker asked: Assuming you already have a copy of your annual credit report you may have already found some errors that should be removed. Errors should always be a big concern because they can and probably have affected your credit score, also called a FICO. You can repair your credit with a little bit [...]
Herschel Bentley asked: Historically, the function of the Credit Bureaus first began as collection agencies and they only gathered negative information. Then Fair Isaac & Company developed the FICO scoring system to improve the overall credit reporting system. Today, the bureaus report both positive and negative credit history to provide a risk-grade rating that estimates [...]
Cris Rendall asked: Generally there is not much to going over your credit reports. You read over them double-check a few items and more or less forget about them until next year. Or maybe you’re in a different situation. This could be the first time you’ve ever ordered your credit reports and some of the [...]
Ben S Douglas asked: TransUnion, one of the “big three” credit reporting companies, compiles all the information they receive from lenders into your credit report. As a credit bureau, TransUnion keeps credit history about you including your address, payment history, employment, and other personal information. Whenever you apply for any type of credit, a lender [...]
asked: Melinda
Shayne Sherman asked: Many people are confused about the difference between judgments on credit reports and a lien, and on the methodology of clearing it up. A judgment against you is simply the result of you losing a case in court. Your creditor goes to court to get a judgment against you for the debt [...]