Credit reports are generally broken down into five to seven areas, depending on what credit report you’re looking at and whether it’s a “consumer” version or a “users” version. Here’s are the sections and what you’re likely to find in each.
Correcting errors in your credit reports seems like an easy task. You get copies of your reports, you review them for accuracy and if you find something wrong, you file disputes with the credit bureaus to have the errors corrected. Unfortunately it’s not as simple as I just suggested. But following these tips will help ease the pain.
We all know what the credit reporting agencies will allow consumers to do. They’ll let you either purchase your credit reports or claim freebies periodically because of state and Federal law. They’ll let you place fraud alerts on your files if you feel like you may have been exposed to identity theft. And they’ll even let you place a short statement on your credit report if you want to explain your side of the story vis-à-vis an item you don’t agree with. However, there are several things they will not allow you to do under almost any circumstance.
What can be wrong with saving 10, 15 or even 20% on your purchases? Well, a lot can be wrong with using your credit reports and scores like store coupons. Here’s what can go wrong and why you should avoid opening new store credit cards at all costs.
Equifax, TransUnion and Experian…we all know these guys. I’ve written about them about a thousand times over the past decade. We credit types tend to focus on these guys for obvious reasons. What you may not know is that these are not the only companies that are keeping an eye on you.
When we talk about credit data we have to focus on the credit reporting agencies — and these guys are not exempt from the world of wacky wild mythical information. Here are four of the most commonly misrepresented “facts” about credit reporting.
There’s a 50% chance that you may have to go through the process of separating yourself from your ex-spouse’s credit. And while it’s really easy to co-mingle debt, it’s next to impossible to de-mingle it.
There are a variety of ways to get out of credit card debt: You can budget. You can file bankruptcy. You can enroll in a debt management plan (DMP) through one of the member organizations of the National Foundation for Credit Counseling. You can work with your credit card issuer directly and seek help through one of their hardship programs. You can attempt to settle the debt on your own. Or you can enlist the services of a debt settlement company. The purpose of this article is to explore debt settlement as an option.