Category Archives: Credit Repair Laws
Mandatory Credit Card Arbitration Fine Print Mandatory Credit Card Arbitration of any claim a consumer may have against the issuer of the card is required by the contract the consumer entered into. This contract containing mandatory credit card arbitration was drawn up by the issuer of the card. It is reasonable to expect that the
Credit Scoring Rules Amendments Include More Information Equifax, Experian and Trans Union, the nation’s 3 credit reporting giants have agreed to some key policy changes. Under pressure from New York Attorney General Eric Snederman’s lawsuit the credit reporting agencies have agreed to a number of important changes to be implemented nation wide over the next
Best Practices for American Credit Cards in Europe With the American dollar flying high for exchange with Euros and most other currencies many Americans are concluding that this is the time for that dream foreign vacation. What are the best strategies to employ to take full advantage of the favorable currency situation? What amount of
Business Credit Basics Firewall with Personal Credit Business owners typically operate as a d/b/a (doing business as) status in the beginning. It may be “Joe’s Dry Goods” on the sign outside but the legal status is “Joe Smith d/b/a Joe’s Dry Goods.” It’s the same with “Jane’s Bakery”, “Phil’s Pizza” or “Gina’s Beauty Parlor.” This
Credit Scoring Reform Wholesale Proposals Do you think that Credit Scoring is unfair from soup to nuts? Would you like to see reforms mandated that achieve sweeping changes? After all Sweden’s credit reporting system only keeps negative credit information for 3 years; Germany keeps it for 4 years. Isn’t 7 years for most negative entries
CoreLogic Consumer Finance Solutions Provides Different Credit Data Consumers with a real interest in the credit scoring system are aware of the kinds of data contained in their Equifax, Experian and Trans Union credit reports. They know that timeliness of payments on their monthly bills is meticulously recorded along with negative information such as judgments
Debt Collector Legal Registration Requirement Did you know that a debt collector must register with your State Department of Business Regulation in order to report, confirm, verify or try to collect an alleged debt? Do you know why debt collector legal registration may be of critical importance to you? Let me tell you a
Credit Report Personal Information Category Your credit reports from Equifax, Experian or Trans Union each have five different categories: Personal Information, also referred to as Personal Identification Information by Equifax Historical Account Information Inquiries Public Records This Essay will deal with the basics of the Credit Report Personal Information category. My purpose is to help
Credit Reporting Errors Legal Damage Claims Can be Measured There are legal avenues to be taken for reparations when your credit standing has been injured by carelessness, negligence or even willful conduct. Who would you sue? How many potential defendants bear legal responsibility? How high will the judgment be if you win? How would the
Experian Lawsuit Filed by Mississippi Attorney General An Experian Lawsuit has been filed against the credit reporting giant by Mississippi Attorney General Jim Hood’s office. “Experian has turned its failure to maintain accurate credit reports and its refusal to investigate consumer’s disputes into a business opportunity” according to Mr. Hood. “Experian has for more
Peer to Peer Lending Peer-to-Peer lending refers to a trending method of borrowing money that eliminates banks from the process completely. Private Investors provide the capital to qualified borrowers at rates that are actually quite reasonable if they have good credit. Lending Club, an industry leader, is said to reject 90 per cent of applicants.
Debt Collection Letter May be Fake That debt collection letter that has you so upset may or may not be real. Don’t let your fear of having a collection wind up on your credit reports make you pay first and ask questions later. There are a lot of creative scammers out there dreaming up ways
First Credit Card Big Opportunity Life has it’s benchmarks. Turning 7 is the classical entry into the “Age of Reason” in some religions. Now it is possible to commit a sin! The first credit card makes it possible to commit financial sins that can lower your credit score for many years to come. Those who
Employment Credit Checks Widespread Employment credit checks are justifiable when it comes to jobs that require being trusted with large amounts of money for obvious reasons. Jobs requiring security clearance might also be included in the category where this practice is a necessity as opposed to an annoying intrusion invading the privacy of the applicant.
Charge Offs, Judgments, Liens Charge Offs, Judgments, Liens are among the most difficult problems facing the consumer who is trying to turn his credit score around. Many people do not really understand just what “charge offs” are and what can be done about them. What are Charge Offs of a debt? A creditor charges off