The credit bureaus can be very cooperative, and then again they can be downright frustrating. Success with credit bureaus disputes is predicated on two factors: technique and patience, and not necessarily in that order.
Each of the three credit bureaus has their own personality.… Read More
The worst mistake you can make when starting a credit repair effort, is to imagine that a derogatory account is accurate just because you recognize it. Recognition alone is not a valid test of accuracy – and the mistake could ruin your score.… Read More
There is an unprecedented opportunity to restore your credit score and minimize the impact of the errors of the past. FICO, the creator of the credit score used by the vast majority of lenders, seems to have revised their formula to put less emphasis on the past and more on the present.… Read More
On February 11, 2013 the FTC released the results of a study on credit reporting accuracy. Their conclusion is that consumers cannot afford to trust the accuracy of the information assembled by the credit bureaus – and provided to lenders, landlords, insurance companies, etc.… Read More
Credit inquiries may have no impact on your FICO scores; and when they do, the impact may be so minimal and short-lived that you would be well advised to ignore them, rather than launching a credit repair offensive. How can this be?… Read More
We have never taken a stand against the credit reporting system. It is not perfect and there is abuse, which can be frustrating at times, but it could be worse. In fact, given that the dispute process (as mandated by the Fair Credit Reporting Act) is almost entirely self-policing, the credit bureaus do a pretty decent job.… Read More
Student loan Income-Based Repayment (IBR) is a student loan repayment option designed to make payments universally affordable based on income and family size. IBR was introduced in 2009. And in 2010, in response to economic conditions, the IBR payment formula was modified to reduce monthly payments to 15% of discretionary income, and to schedule an additional reduction to 10% of discretionary income for 2014.… Read More
So there you are, right in the middle of an otherwise wonderfully effective credit repair program and your credit score vanishes. Up and gone. Your first reaction is that something must be wrong. The whole point was to improve your scores, not make them vanish.… Read More
Federal tax liens can depress your FICO scores and keep you from getting approved for most types of loans. Recently, the IRS announced a number of policy changes that allow taxpayers to remove federal tax liens from their credit reports, and, as they put it, “get a fresh start”.… Read More
If you have been through tough times and your credit has suffered you may find it hard to think about credit repair; it’s intimidating, scary even. The first step is always the hardest. It takes courage. Self-improvement programs can be like that, it may take a running start to get moving.… Read More