The credit repair business requires a clear grasp of the interaction of many factors. Credit bureaus, creditors, and collectors are each regulated under their own set of federal laws. There are state laws that may supercede the federal laws. In the background of all of this activity is Fair Isaac and Company that formulates your FICO Score based on the makeup of the information on your report.… Read More
Credit Repair – Student Loans
Legally, a default occurs the first time you fail to make a payment when it is due. But if you fail to make your student loan payment for 180 days, your loan will enter the “official” default status and take on a life of its own.… Read More
Helpful Handy Credit Repair Hints
Take care of your credit and it will take care of you. There are a variety of super effective credit repair techniques that will protect your credit, eliminate errors, and insure that your scores are not victimized by the system.
What is Up with Your Credit?
… Read MoreConsidering Credit Repair Services
There is little doubt that credit repair services have become an important consideration for millions of people. Mortgage lenders, auto finance companies, and even credit card lenders have constructed qualification barriers that border on the impossible. And if you are approved, and you have credit blemishes, you are likely to pay a premium rate.… Read More
Collection Solutions Overview
The FDCPA is the consumer protection act designed to prohibit abusive practices by debt collectors. The FDCPA specifically defines a collector as any person that collects debts owed to others, and may include attorneys that collect debts on a regular basis.… Read More
Credit Card Re-Aging
Credit card issuers have the ability to bring your account current and wipe out your entire record of late payments using a procedure called “re-aging”. Re-aging, if managed properly, can be a fantastic credit repair tool. The re-aging guidelines were set by the Federal Financial Institutions Examination Council (FFIEC) in June of 2000 for the purpose of helping “borrowers overcome temporary financial difficulties, such as loss of job, medical emergency, or change in family circumstances like loss of a family member”.… Read More
Statute of Limitation Applications
The Fair Credit Reporting Act (FCRA), and the Fair and Accurate Credit Transactions Act (FACTA) amendment to the FCRA of 2003, is the federal legislation that governs the credit reporting industry. Statutes of limitation for reporting time limits are provided by this legislation.… Read More
Quick Identity Theft Solution
Are there entries on your credit report that do not belong to you? These may be the result of a file merger error on the part of the credit bureaus. Or they may be the result of a more nefarious case of identity theft.… Read More
Debt Validation Essentials
The correct way to respond to a collection letter is with a written request for debt validation. This is your right under the Fair Debt Collection Practices Act (FDCPA), and if done in a timely and correct manner can produce fantastic results.… Read More
Debt Collectors in the Age of Phishing
It is the age of phishing, and you treat requests for personal information very cautiously, even when the request comes from a known entity. Receiving a collection call is no different. You do not know the caller, so why should you discuss your personal finances with them?… Read More
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