Who is allowed permission according to the law to pull and see your credit report.? The fair credit reporting act states that an agency should have what is called the “permissible purpose” to be able to access and individual’s credit report. Only businesses and government agencies are deemed to have a permissible purpose if at Full Article…
Why Accounts Can Be Missing From Your Credit Report
Many people are under the misconception that it is the credit bureaus that collect information about consumer from various creditors. In fact, the contrary is true. It is the creditor who supplies the information to the credit agencies about their consumers. The fair credit reporting act gives every creditor the choice to report or not Full Article…
Does an Unemployment Claim Appear on the Credit Report?
The credit report only shows credit and debt related financial information. Apart from this credit bureau also collects information from public records such as tax liens, federal court judgments, civil court judgments. These judgments include bankruptcy filings and in certain states, defaulted child support payments. While an unemployment claim does not directly appear on your Full Article…
Can You Fix Your Own Credit Report?
Fixing your own credit by changing your spending and saving habits is probably the best way to repair a flagging credit score. Contrary to what you may be led to believe by extensively and popularly advertised credit repairing services, no one can legally remove negative information from your credit report that is true and accurate. Full Article…
Does Closing Extra Credit Card Accounts Improve Credit Rating?
If you already have open multiple lines of credit then do not make a decision of closing the extra credit accounts rashly. The best way to determine whether any particular credit account is having an adverse effect on your credit score is to get a recent credit report and an analysis from the credit bureaus. Full Article…
How Many Credit Cards Should You Have
What is Right Number Of Credit Cards A Person Should Have We feel up to 3 credit cards are sufficient to serve the needs for more people. Some people manage with one credit card only if the credit limit suits their expense needs. However, in order to keep the credit utilization low, it is better Full Article…
Improve Credit Score By Decreasing Balance To Credit Ratio
Reduce your credit utilization, also known as ‘balance to credit ratio’ and improve credit scores. Balance to credit ratio is the amount that you charge to the credit and the actual amount of credit that is available to you. If you utilize a small part of the credit that is available to you then your Full Article…
When Are Records Of Bankruptcy Deleted From A Credit Report?
A credit bureau collects records of bankruptcy from the public records. There are several types of bankruptcies filed under different categories. Under these categories a bankruptcy filed under Chapter 7 stays on the record for a period of 10 years while all others such as those under Chapter 12 and 13 stay on the record Full Article…
Tax Liens Still On Credit Report After Bankruptcy Record Has Been Deleted
Typically a tax lien is shown in a credit report for 15 years after it occurs. However, in the case where it is included in a bankruptcy filing, it only stays on for 7. So the first thing for you to determine is whether or not the tax liens were a part of the accounts Full Article…
What Do I Do After the 10 Years of Filing Chapter 7 Bankruptcy Are Over?
Credit bureau maintains the record or a chapter 7 bankruptcy in the credit report for a period of seven years. After these 10 years are over the record for the bankruptcy and all the accounts included in it are automatically erased from your credit report. However, it is always advisable that you should get a Full Article…