from CNN Money Personal Finance
The pitch: The FTC is cracking down on sites that mislead people into thinking they’re getting a free credit report when they’re really signing up for a monitoring service. (One offender: freecreditreport.com.) But don’t expect ads for these services to end: All three credit bureaus still offer [...]
from Moneywatch Personal Finance
MarketWatch Personal Finance Editor Andrea Coombes talks to author Jean Chatzky
about the difficulties of correcting mistakes on your credit report and the best ways to do it.
from Moneywatch Personal Finance
Negative information is deleted seven years from the original delinquency date. Collection agencies are required to report the original delinquency date from the original account.
from Moneywatch Personal Finance
“Last activity” simply refers to the last date that a change to the account was reported, such as an increase in the balance or an account being reported as paid in full. The term simply refers to the last time activity was reported for the account.
. [...]
from CNN Money Personal Finance
For years, catchy advertisements have convinced viewers that if they don’t log on to a Web site offering a free credit report, they could end up living in their parents’ basement or working at a seafood restaurant.
from CNN Money Top Tips
Many of the changes put into place by the Credit Card Act of 2009 went into effect back in February; one part of the legislation will go into effect April 1.
from Moneywatch Personal Finance
New laws that mandate consumers be given free credit reports come into effect later this year. Personal Finance Editor Andrea Coombes gives you the tips you need to save money and guard against ID theft.
from CNN On The Money
A recent Bloomberg article “Unintended Consequences of Mortgage Modifications: Falling Credit Scores” addresses a topic that deserves serious follow up. The article accurately identifies that loan modifications could damage your FICO credit scores, if they are reported to the credit bureaus using the new reporting guidelines set up by the credit [...]
An R-4 indicates that the consumer paid 90 or more days past due but less than 120 days. R-5 indicates that a consumer paid 120 or more days past their due date. R-7 usually means that a creditor repossessed collateral on the account and R-8 reflects that the account was turned over to collections. R-9 [...]
A tradeline contains:
Name of the creditor
Account number (usually incomplete or coded for security purposes)
Type of account (installment loan or revolving)
Balance owed
Summarized payment history
Date the account was opened
Credit limit
Co-signers on the account
Date information was last reported to the bureau