The process to buy a credit score can be a little confusing. A credit score can be calculated by a number of different methods and can be offered by more than one company. An individuals credit score may be based on different credit score models using different credit reports. It certainly does sound like a complicated mess of information. Thankfully it appears more complicated than it really is. Consumers need a little advance knowledge to be aware of their credit score and credit … [Read more...]
Charge Offs, Avoid This at All Costs
February 7, 2011 By Leave a Comment
Being late paying your bills is not unusual and happens to the best of us. If a situation arises where you suddenly cannot pay your bills – loss of a job or a medical emergency – it is important to understand just what will happen if you find yourself delinquent on a loan or other debt. The last stage of a delinquent debt is generally identified as a charge off and this item, when it is recorded in an individual’s credit report may very well be one of the most damaging items impacting … [Read more...]
What is a Judgment
February 4, 2011 By Leave a Comment
A judgment is the legal document stating the final decision on the outcome of a lawsuit. For many consumer credit cases the judgment involves a debt that is owed. In these cases, the judgment is frequently a monetary award to the plaintiff which is usually a creditor such as a credit card company or bank. The judgment in debt disputes may include a formal document issued by the court ordering the defendant to pay a certain amount of money to the credit card company or bank or whomever who has … [Read more...]
Avoid Quick Fix Debt Elimination Scams
December 31, 2010 By Leave a Comment
Consumers that are looking to improve their credit and credit score often look for ways to get their existing debt under control. Managing and reducing existing consumer debt is certainly one way to help manage debt payments, credit reports and credit scores. Unfortunately, too many consumers in need of debt relief fall victim to debt elimination scams. Debt elimination will help with an individual’s credit score over time. With lower monthly payments, a consumer can now better manage … [Read more...]
Identify Credit Report Problems
December 15, 2010 By Leave a Comment
One of the first steps to improve a credit score is to fix the credit report that is the underlying problem directing the low score. An individual’s credit score, whether it is good or bad, is based solely on the data found in that individuals credit report. To improve a credit score therefore requires an improvement in the underlying data in the credit report. In order to repair any issues in a credit report that is the cause of an individual’s low credit score, it is necessary to … [Read more...]
Lexington Law Firm Credit Repair
November 13, 2010 By Leave a Comment
Lexington Law firm is a company that works with consumers to help improve their credit and subsequently improve their credit score. Lexington Law is essentially a credit repair company. Federal law gives all consumers the right to have inaccurate information in their credit reports corrected. Having inaccurate, negative information removed from your credit report is one of the fastest methods to increase your credit score. Lexington Law works as a facilitator to help remove bad credit … [Read more...]
How to Increase Your Credit Score
November 10, 2010 By Leave a Comment
In order to improve your credit score, it's important to know where your credit stands currently. By understanding how your credit report looks now, you can see what factors are driving down your credit score and what aspects of your credit needs work to increase your credit score. Your credit score is calculated based on the information in your credit report. Any errors or negative information in the credit report can push your credit score lower as can limited credit or limited … [Read more...]
Advantages of a Good Credit Report and a Good Credit Score
October 27, 2010 By Leave a Comment
The benefits and advantages of a good credit score and good credit report is far greater than just obtaining the ability to have easy access to credit. There are several advantages to maintaining a credit score of which one is certainly, lower rates for new credit and bank loans. Lenders will use a credit report, along with a credit score, an evaluation of your capacity to repay and any collateral in making decisions to lend you money. Most lenders also take these same matters into … [Read more...]
Credit Reports are the Foundation for Credit Scores
October 20, 2010 By Leave a Comment
A credit score, often referred to as a FICO score, is a number based on the information in an individual’s credit file or credit report. Because your score is constructed from the information in your credit report it is always worthwhile to review your credit report to find out what is causing either a low credit score or a good credit score. In fact, it is hard to improve your credit score numbers if you don’t know what is in your credit report causing the low numbers. Since a … [Read more...]
Bankruptcy and Credit Scores
October 10, 2010 By Leave a Comment
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...]