A bankruptcy record in a credit report can take a big bite out of a credit score. A bankruptcy is considered one of the most damaging occurrences in a credit report measured by the major credit score models, regardless of the type bankruptcy. As long as the bankruptcy filing is listed in a credit report, it is calculated into the credit score. The more time that goes by after the bankruptcy is initially recorded in the credit report the less the impact the bankruptcy will have on the … [Read more...]
Severe Negative Information in a Credit Report
October 28, 2009 By Leave a Comment
One of the four main components of credit data in a credit report includes public record information. Public records include items such as bankruptcies, tax liens, legal judgments and other legal proceedings recorded by a court. These records are often the biggest drags on a credit score. Some of these accounts may be able to be cleared up or removed from the credit history or credit report with a little bit of work. Most of these public records unfortunately, can not be altered or … [Read more...]
Simple Myths Regarding Credit Scores
August 3, 2009 By Leave a Comment
Myths and urban legends abound on the Internet, but most of them can't impact your finances. However, there are many financial myths that can cost you a lot of money. Myths about credit reporting and your credit score can take a significant amount of your hard-earned money out of your wallet. Making a lot of money will help your credit report and your credit scores. It is a common misconception that a big salary will lead to spotless credit, low interest rates and a high credit score … [Read more...]