Debt collector calls are annoying, but when they cross the line into harassment, they are breaking the law. Of course, they don’t have to break the law to be stopped. In fact, they are so scared about lawsuits and being shut down that when they hear or see certain phrases from consumers, they run in [...]
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Credit Reports and Scores
Will paying my utility bills on time improve my credit score?
In a word, no. The information doesn’t make it to your credit report, and therefore, doesn’t factor into your score. Most utility companies don’t go to the effort and expense of reporting your timely payments to the credit bureaus. There’s nothing in it for them. If you are late on your payments, some utilities will [...]
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Repairing Your Credit Report
So, you’ve obtained your free credit report from Equifax, Experian, and TransUnion, and there is something there. How do you get items removed from your credit report? Something you don’t recognize A loan or bill you have paid off Something negative that you don’t agree with The way to fix this is to contact the [...]
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Getting a Free Credit Report
You are entitled to get a free credit report. How can you get your credit report without getting scammed? Your credit report is used by lenders to determine whether or not you’re a credit risk. Depending on what’s on your report, you might qualify for the loan or you might not (or you might be [...]
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Does an eviction appear on your credit report?
If you are evicted from your apartment, will it show up on your credit report and hurt your credit score? An eviction, or failure to pay your rent, can show up on your credit report and hurt your credit score. Generally the landlord does not send the information to the credit bureaus. However, if they [...]
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How is the FICO credit score calculated?
Your FICO score (Fair Isaac Corporation) is vital to obtaining credit, but how is it calculated? Lenders determine a person’s credit risk based on his or her FICO score, but most people don’t understand what a FICO score is or how it is calculated. A FICO score is a measure of the risk a lender [...]
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How do I raise my credit score?
The credit score is a measure of your risk to a potential debtors. How do you improve your score? A lower FICO credit score means that you might end up with a higher interest rate, or be denied for a loan. To raise your score, consider the approximate breakdown of the score: payment history (35%) [...]
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7 Credit Score Myths that need to go
There is lots of bad advice out there about the credit score… Checking your credit report hurts your credit score While it is true that extra inquiries on your credit report can lower your score, there is a difference between soft inquiries and hardinquiries. A hard inquiry is made by an agency that wants to extend you credit, [...]
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How do I build my credit score?
Getting your credit history established is not as easy as it seems. Many people today have either bad credit or no credit. Unfortunately, in today’s society having a good credit history is all but essential. Banks, credit card companies, automobile dealerships, landlords, and even sometimes potential employers will want to check your credit history before [...]
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How do I rebuild credit after a bankruptcy?
If you’ve filed for bankruptcy in the past, you know you’ve got a challenge ahead of you. What is the best way to rebuild your credit after filing for bankruptcy? A bankruptcy filing can be the most damaging line on a credit report, and it stays on the report for a full 10 years. But [...]
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