It seems like there are a ton of free credit report offers online. Has anyone found one that they are comfortable using? I've never used one before.
Has anyone ever used a credit report website?
There is only one site that can give you your Federally mandated free credit report: annualcreditreport.com. Everyone else is going to charge you for it.
That being said, once you burn your free one this year, you can try myfico.com. I use that one because not only do you get all three bureau reports, but you can also get your FICO scores from them.
I have also heard good things about Truecredit.com, but I have never used it.
Reply:I found that the best one is FreeCreditReport.com. They give you all 3 credit reports: Equifax, TransUnion and Experian. They are very comprehensive. You won't get your credit score for free and will have to pay something (usually under $10).
Reply:I got my free report without a problem off the web. check out www.fastcardapprovals.com and go under free credit report they are reliable plus they also offer other services.
http://www.fastcardapprovals.com/
Monday, August 3, 2009
When opening a checking account what kind of inquiry is seen on credit report?
I have openned an account online with a bank and I guess they had to obtain my credit report ~ what kind of info are they looking for and what kind of inquiry is seen
Is the inquiry one that all creditors can see (hard inquiry) or one that only I can see (soft inquiry)
When opening a checking account what kind of inquiry is seen on credit report?
They're not looking at your credit unless you are looking to establish a credit line with them.
What they looked for was any potential history of writing bad checks, and that's through another network, not credit.
Reply:There wouldn't be a query on your credit report unless you were applying for credit, so it's a soft one. I don't know why a bank would want to see your credit report except to be sure you haven't written bad checks on other accounts.
Is the inquiry one that all creditors can see (hard inquiry) or one that only I can see (soft inquiry)
When opening a checking account what kind of inquiry is seen on credit report?
They're not looking at your credit unless you are looking to establish a credit line with them.
What they looked for was any potential history of writing bad checks, and that's through another network, not credit.
Reply:There wouldn't be a query on your credit report unless you were applying for credit, so it's a soft one. I don't know why a bank would want to see your credit report except to be sure you haven't written bad checks on other accounts.
Sunday, August 2, 2009
How do I get rid of a collection account on my credit report?
I just checked out my credit report, and saw a collection account on my credit report.. how do I get rid of it? It was only $80 and the jerk doc sent me only one notice - and it was just a plain notice that i still owed them a little money that the insurance didn't pay. Nothing from a collection agency. All my other accounts are so good, I pay my bills in full and on time every month, have had these credit cards for almost 3 years now.. but this collection thing bought down my score so much! I'm really afraid that this will affect my credit eligibility for things like houses, cars, apartments in the future :( I'm a broke college student and I really don't want to pay $80.00... help.
How do I get rid of a collection account on my credit report?
You need to pay it and it will show a PAID collection on yout bureaus. Theres no way around it. Have you disputed it with the bureau? If they cannot validate it within 30 days they have to remove it per the FCRA. You could try that route.
Reply:You can add mitigating information to your credit report.
See the FTC Web site for details. Your otherwise good credit should matter more. However, I would try to settle with the Doctor.
Reply:Even a little debt is debt, learn from this %26amp; pay the bill before you get any further into this mess. Everything else you say doesn't matter, its just excuses.
Reply:Pay the Dr. bill and ask for a written statement stating that you are free and clear of any debt. Ask the Dr. to send all three reporting agencies notice and you send a certified copy of the letter to all three. Keep the letter in case the debt pops back up.
How do I get rid of a collection account on my credit report?
You need to pay it and it will show a PAID collection on yout bureaus. Theres no way around it. Have you disputed it with the bureau? If they cannot validate it within 30 days they have to remove it per the FCRA. You could try that route.
Reply:You can add mitigating information to your credit report.
See the FTC Web site for details. Your otherwise good credit should matter more. However, I would try to settle with the Doctor.
Reply:Even a little debt is debt, learn from this %26amp; pay the bill before you get any further into this mess. Everything else you say doesn't matter, its just excuses.
Reply:Pay the Dr. bill and ask for a written statement stating that you are free and clear of any debt. Ask the Dr. to send all three reporting agencies notice and you send a certified copy of the letter to all three. Keep the letter in case the debt pops back up.
If you have judgements on your credit report can you still get a mortgage loan?
We have 2 medical-related judgements and one from a credit card on our credit report. We spoke to a lender about buying a home and he said every mortgage companay would deny us because the people who have the judgements against us would put a lein on the property until they were paid. Is that true?
If you have judgements on your credit report can you still get a mortgage loan?
They are correct. Pay off the judgments (or settle with the company) and then apply for a mortgage.
Reply:if you have those things on your credit it will be difficult to get a mortgage because the lending industry is losing millions on bad debt. So they have much less tolerance for potential loss. Basically they are less willing to make risky loans. And with three negatives on your credit, you would possibly be seen as a risky loan. If you did get a mortgage it would most certainly be at a higher interest rate.
Reply:Pretty much true. Generally speaking, you will be denied a mortgage loan if there are outstanding judgments remaining unpaid. The lender is correct. As soon as you take ownership of the property, these judgments can be converted to liens against the property. Lenders don't like such liens.
Reply:This is where all mortgage loans ARE created equal.
Outstanding judgments that are NOT paid must be paid before they will loan to you.
Period.
The reason is that most judgements will turn into liens on property once you actually purchase property....not always, but most of the time, yes.
Your lender is 100% correct.
flower
If you have judgements on your credit report can you still get a mortgage loan?
They are correct. Pay off the judgments (or settle with the company) and then apply for a mortgage.
Reply:if you have those things on your credit it will be difficult to get a mortgage because the lending industry is losing millions on bad debt. So they have much less tolerance for potential loss. Basically they are less willing to make risky loans. And with three negatives on your credit, you would possibly be seen as a risky loan. If you did get a mortgage it would most certainly be at a higher interest rate.
Reply:Pretty much true. Generally speaking, you will be denied a mortgage loan if there are outstanding judgments remaining unpaid. The lender is correct. As soon as you take ownership of the property, these judgments can be converted to liens against the property. Lenders don't like such liens.
Reply:This is where all mortgage loans ARE created equal.
Outstanding judgments that are NOT paid must be paid before they will loan to you.
Period.
The reason is that most judgements will turn into liens on property once you actually purchase property....not always, but most of the time, yes.
Your lender is 100% correct.
flower
I have to write a letter of explanation for derogatory credit report info. What should I write?
I am refinancing my home loan and getting some equity out. There are a few things on my credit report that don't look good. What kinds of explanations are best? I don't even really know why they were 30 days late. But they were and I have to deal with it now. I have not had anything bad in the past year but they still want a letter of explanation. I don't know what kinds of excuses are better than others.
I have to write a letter of explanation for derogatory credit report info. What should I write?
Make it "out of your control" reasons.. If the lates and/or problems are all around the same time.... you could say you mailed the payments in a timely manner and have no explanation as to why they didn't reach the creditor in time to be posted to your account - or why the creditor did not post them on time. You could have had a family emergency that required you to suddenly leave home, without preparation, - immediately upon taking care of the situation you contacted the creditor and paid the amount due for that month.
Your loan officer should be helping you with this............ if not work with someone else......... Your loan officer will be making big bucks off your refi........ make he/she work for it.
Reply:Be honest. Do not make things up. So, if prior to this you didn't worry too much about paying things on time, but this experience is making you realize the importance of being on time, your letter might go as follows:
I did not realize how important getting my payments in by the due date really is. I felt that if I paid it, that was all that mattered. Now I see that it is really important to get my bills paid on time or early. I am using this opportunity to increase my credit score with this fresh start.
Hope this helps. This is from years of mortgage experience, by the way. :)
I have to write a letter of explanation for derogatory credit report info. What should I write?
Make it "out of your control" reasons.. If the lates and/or problems are all around the same time.... you could say you mailed the payments in a timely manner and have no explanation as to why they didn't reach the creditor in time to be posted to your account - or why the creditor did not post them on time. You could have had a family emergency that required you to suddenly leave home, without preparation, - immediately upon taking care of the situation you contacted the creditor and paid the amount due for that month.
Your loan officer should be helping you with this............ if not work with someone else......... Your loan officer will be making big bucks off your refi........ make he/she work for it.
Reply:Be honest. Do not make things up. So, if prior to this you didn't worry too much about paying things on time, but this experience is making you realize the importance of being on time, your letter might go as follows:
I did not realize how important getting my payments in by the due date really is. I felt that if I paid it, that was all that mattered. Now I see that it is really important to get my bills paid on time or early. I am using this opportunity to increase my credit score with this fresh start.
Hope this helps. This is from years of mortgage experience, by the way. :)
Why is this old debt still on my credit report?
Everything I read says that collections come off of your report 7 years after the payment in question was missed. Now I have an old credit card that I didn't use or pay since my first year in college, at least 12 years ago. The company waited until 2004 to send the old debt to collection, and it's showing up on my report as a 2004 debt. Is that accurate (does the 7 years actually start whenever the company decides to collect?), or disputable?
Why is this old debt still on my credit report?
Ok, if they tryed to collect in 2004 then it is correct, its not the age of the debt that is considered it's the age of the last account management, so if they tried to collect in 2004 and you didn't pay they can put it into your credit.
Reply:Send the collector a debt validation letter and send the credit bureaus a dispute letter.
If it's not supposed to be on there and you ask them to remove it and they don't...they are violating your federal rights under the FCRA and FDCPA and can be sued for $1,000 per violation (on each report.)
So, either way you win if you do it right. Find sample letters and an introduction to credit repair below:
Reply:send a letter requesting removal of outdated items to the 3 credit agencies
Reply:what you need to do is write to the credit bureau and dispute.
Include any info you can on the old account.
Reply:The limitations for suing and reporting are 7 years from the date of first delinquency. This company is probably illegally reaging this debt. You need to send them a letter asking them to validate the debt and also dispute this with the credit reporting agencies. Go to www.creditboards.com/forums for some really great advice. Start out in the newbie section!
Reply:Mark needs to do a little research, as he is totally wrong.
Follow Chases advice, but let me add this.
The reason they are doing this to you is because the collection agency takes advantage of the fact you don't understand the law.
Read the links below. Send out the letters, send them certified mail, and keep track of your records. If it's not removed within 30 days you can easily sue them for posting this to your report.
Read the Fair Credit Reporting act and the Fair Debt Collections act.
Reply:Check one of the statute of limitations on this site for a description of how it works. Or go to www.annualcreditreport.com. It gives a detailed description of how this all works. I think it says the time starts from the time the judgment against you is issued. Usually, that's within six months of the time the account went delinquent. I'm not sure why they'd wait that long unless they're trying to get around the SOL by extending the time they wait before issuing judgment. If so it's a nasty new trick on their part (how dare they!). Joking, of course...
Reply:" The company waited until 2004 to send the old debt to collection, and it's showing up on my report as a 2004 debt. Is that accurate (does the 7 years actually start whenever the company decides to collect?), or disputable?"
Hell yeah that's disputable. A negative entry not including public records can only stay on your account for 7 years from date of last activity...so that's either the last payment, or charge off date (whichever is later). It is illegal to reage a debt, and selling a debt to a collection agency is NOT the same as a charge off, it is not considered a date of last activity for SOL purposes.
studly's right...read up on the FCRA and FDCPA. You can also try to look for an attorney on naca.net if you want.
Why is this old debt still on my credit report?
Ok, if they tryed to collect in 2004 then it is correct, its not the age of the debt that is considered it's the age of the last account management, so if they tried to collect in 2004 and you didn't pay they can put it into your credit.
Reply:Send the collector a debt validation letter and send the credit bureaus a dispute letter.
If it's not supposed to be on there and you ask them to remove it and they don't...they are violating your federal rights under the FCRA and FDCPA and can be sued for $1,000 per violation (on each report.)
So, either way you win if you do it right. Find sample letters and an introduction to credit repair below:
Reply:send a letter requesting removal of outdated items to the 3 credit agencies
Reply:what you need to do is write to the credit bureau and dispute.
Include any info you can on the old account.
Reply:The limitations for suing and reporting are 7 years from the date of first delinquency. This company is probably illegally reaging this debt. You need to send them a letter asking them to validate the debt and also dispute this with the credit reporting agencies. Go to www.creditboards.com/forums for some really great advice. Start out in the newbie section!
Reply:Mark needs to do a little research, as he is totally wrong.
Follow Chases advice, but let me add this.
The reason they are doing this to you is because the collection agency takes advantage of the fact you don't understand the law.
Read the links below. Send out the letters, send them certified mail, and keep track of your records. If it's not removed within 30 days you can easily sue them for posting this to your report.
Read the Fair Credit Reporting act and the Fair Debt Collections act.
Reply:Check one of the statute of limitations on this site for a description of how it works. Or go to www.annualcreditreport.com. It gives a detailed description of how this all works. I think it says the time starts from the time the judgment against you is issued. Usually, that's within six months of the time the account went delinquent. I'm not sure why they'd wait that long unless they're trying to get around the SOL by extending the time they wait before issuing judgment. If so it's a nasty new trick on their part (how dare they!). Joking, of course...
Reply:" The company waited until 2004 to send the old debt to collection, and it's showing up on my report as a 2004 debt. Is that accurate (does the 7 years actually start whenever the company decides to collect?), or disputable?"
Hell yeah that's disputable. A negative entry not including public records can only stay on your account for 7 years from date of last activity...so that's either the last payment, or charge off date (whichever is later). It is illegal to reage a debt, and selling a debt to a collection agency is NOT the same as a charge off, it is not considered a date of last activity for SOL purposes.
studly's right...read up on the FCRA and FDCPA. You can also try to look for an attorney on naca.net if you want.
Does late credit payments stay on your credit report for 7 or 10 years?
After making late payments in full how do yo get your credit report clean or do you have to wait 7 years?
Does late credit payments stay on your credit report for 7 or 10 years?
7 years (might actually be 7 years and 180 days). But you can always write the creditor a polite letter reminding them that you are a good and loyal customer, and would they please quit reporting that late payment? The credit reports only show whatever a creditor is reporting.
Reply:Payments made more than 30 days late will stay on there through the 7 yr duration, but as time passes the late payment will have less effect on your credit score.
Reply:It sure does
Does late credit payments stay on your credit report for 7 or 10 years?
7 years (might actually be 7 years and 180 days). But you can always write the creditor a polite letter reminding them that you are a good and loyal customer, and would they please quit reporting that late payment? The credit reports only show whatever a creditor is reporting.
Reply:Payments made more than 30 days late will stay on there through the 7 yr duration, but as time passes the late payment will have less effect on your credit score.
Reply:It sure does
Subscribe to:
Posts (Atom)
