The Truth Hurts ! asked:


I have a few bad items on my credit report that add up to at most 2k..I’m really concerned that this might effect my chances of getting a job at the bank.

Phyllis

Dax Z asked:


If that is true that means saying the report will fall off 7yrs after is false. Why is the Fair Credit Act have that disclosure about the 7yr policy, doesn’t make any sense. I thought regardless if anything is paid off or not everything by law will be removed from your credit report upon completion of the 7yr mark. Anyone know anything?

Kristen

Wild Bill asked:


I have unwanted reports listed on my credit report that are not my debts, how do I clear them?

David

david r asked:


I made some errors with my credit when I was younger. I have been doing great at keeping a good credit history now that I’m more mature and understand the importance of credit (last 3 years). However, my old mistakes are still hunting me. I read somewhere that it can take 7 to 10 years for a bad entry in your credit report to be dropped. Is there a way I can remove those sooner?

Andrew

bandit40272 asked:


I have one bad item on my credit report, a car loan that is still open from a car that got reposessed several years ago. I only owe $500 now, and i was wondering if when i paid it off, i could get someone to co-sign another small loan for me, would my credit start to go back up? and how long would it take for it to start rising?

Doris

spearteach asked:


I owe back child support of $100,000 because I was out of the country and the records never got to me and this shows up on my credit report. I am working earning $2800/mo and paying $1800 per month. I need to secure a loan of about $15,000 for a necessary purchase. Any ideas?

Credit Report

James Peter asked:


A credit report incorporates all the details pertaining to your financial condition and is very much essential to all your financial dealings. This credit report is usually prepared by the credit agencies, who in turn keep a track on all your financial activities of a particular year. free instant credit report too is similar, but it can be accessed only by applying online. This report not only helps you to maintain a good financial standing but also helps you to make improvements to your credit score, so as to get the best of benefits.

Credit report essentially showcases your financial strength and categorizes you in to a person with good or bad credit record. Creditors usually prefer to check the credit report before approving any financial aid. It is the same while applying for credit cards or home loan or any other external financial aid. So, it becomes very much important to have an instant credit report available by your side. Moreover, you should check out for the errors and irregularities in the report, as it may create a lot of troubles in the near future.

In accordance with the federal law, this report is issued by 3 credit bureaus namely Transunion, Experian and Equifax. The information pertaining to your credit score is offered by the lenders and various merchants who are present in the market. This credit report contains all your personal information along with the personal details. It is on the basis of this report that you will be able to derive monetary assistance. In fact to a certain extent, creditors levy the terms and conditions on the basis of these details.

There are numerous websites present in the online market who are offering free instant credit report. Applying online to derive this report does not require you to pay a nominal fee. The report comes instantly and what more, it is safe and reliable. There is no fear of someone having a look at your credit report. Besides, you can access the report from location at any point of night or day.



Create a video blog

Michael DeMarkks asked:


Your credit rating is one of the most significant things that determines your economic status and it ultimately determines your ability to receive loans (such as home mortgages or car loans), and even get approved for credits cards! There are many factors that can damage your credit scores, and are easily avoidable. Should you miss payments for your utilities or current credit cards, these companies will report these blunders to a credit reporting agency - tarnishing your credit. Bad credit will cut down on economic opportunities in life, so you should fix them as quickly as you can.

When you suspect that your credit rating is damaged, you should acquire a copy of your credit report. There are various agencies in the U.S. and Canada that can give you these reports. Some will charge you a fee and there are others that are free.

Once you’ve found a credit agency, visit their website to download an application, follow the directions and send your application to the agency. Although the post should return your results in a reasonable fashion, you can also get instantaneous results by getting your credit history online. Depending on when you need to offer your credit report for a mortgage loan application or something else, you may want to pay an extra fee in order to have your results rushed.

When you receive your credit report, you should become an investigator. Look over everything carefully and note any mistakes that you see. Just as you have the right to know your credit history, you have the right to report inaccuracies. The credit agencies must investigate and reply with documentation about the discrepancy. The entry must then be erased should the agency not respond within 30 days.

When investigating and reporting problems with your credit report, you will be asked to send in any proof that you have that may support your side of the argument. The agency is not perfect and also makes mistakes. By you providing supporting information, they may be able to prove that a bad credit mark on your report was a human error, or perhaps they mixed you up with someone else. At this time, this entry may be marked “under investigation,” so that any companies that need your credit report may note this for their decision of your economic status.

Searching and investigating your credit history seems like a burdensome and annoying hassle, but it is important for maintaining a healthy economic life. You should research your credit report every few years, so that you make sure to correct any mistakes before you make major life decisions. You do not want to be attempting to buy a house only to find out your credit is terrible. With bad credit, you won’t be able to tell where you stand. By knowing your credit history, you will be able to know if your credit has one major mistake or lots of small ones. This way, you can know what you do to fix it and how long it will take.



Caffeinated Content - Members-Only Content for WordPress

anonymous asked:


A credit report generated by three major credit bureaus. The report has information about your employment, the way you have paid your bills and details about major financial transactions in which you were involved. It also includes details about any loans or payments on which you have defaulted and also if you were arrested or have filed for bankruptcy in the last decade. In short a credit report is what determines your credit worthiness to businesses and financial organizations across the world. The credit bureaus sell your information to major banks and financial agencies across the world.

The Major Credit Bureaus

There are three major bureaus. TransUnion, Equifax, and Experian. There are many small time bureaus as well but they are affiliated to one of these three majors in the field.

A Clean and Error Free Credit Report

It is extremely important to have an accurate, clean and error free credit report. If you have applied for a loan and have been denied it due to a bad credit report, then the lender will give you the name and telephone number of the credit agency that gave the report. If you contact them in writing within 60 days of being denied, then you can get a free copy of your credit report mailed to you. Even otherwise, you have a right to receive at least once copy of your credit report every year. Even if you wish to review your credit report at any point of time, you simply need to get in touch with one of these credit report agencies.

If There Are Errors

If there are any errors or discrepancies in your credit report, then you need to once again let them know in writing about the information that you believe is incorrect. The letter should have your complete name and address, each part of the report which you are willing to dispute and copies of documents which support your claims. It would be better if you keep a copy of the letter with yourself as well.

Then it is up to the agency to review the information which you are disputing. They will then reinvestigate those parts and if there are any errors correct it. For example, if there is an account which you cannot identify and have not opened, and then you need to report it. It may even be a case of fraud. It is also called as identity theft and millions of people are falling prey to it. Hence it is always recommended that you keep checking your credit score.

Online Credit Report

An online credit report is the latest addition to the list of services that credit bureaus provide. When you sign up with these credit bureaus for their services, you are allotted a unique log in id with which you can easily access credit reports from all the leading agencies. It includes all reports from all three major credit bureaus, viz. Equifax, Experian and TransUnion. This is an excellent service because it reduces the time factor by a huge margin. Earlier, it took days for the credit report to reach you after you wrote or got in touch with the agencies. Now, thanks to the online credit report, all that you have to do is click on the website and log in. Viola! You have access to all the information that you need.



Kansieo.com

msldybug2003 asked:


I Just received a letter saying my old account from bank of america has been purchased by Nco Financial Systems. Their saying if I dont pay them in 30 days they will report me to the credit bureaus. Now this Bank of America account is from 3 years ago. Its not a credit card. I had a bank account with them and had a balance. So can they report this to my credit report after 3 years later?

Caffeinated Content