In 2004 a study found that not only were there errors in almost 90% of all credit reports by the ’Big 3’ credit reporting agencies (Equifax, Experian and TransUnion) but that nearly 25% of these errors were bad enough to cause the person whose report was wrong to be denied credit. One of the …
Credit
Errors, Identity Theft and Your Credit Report
Let’s face it, Credit Reporting agencies employ people just like me and you and, as we all know, me and you can sometimes make mistakes. The Big 3 can (and do) make mistake all the time and these mistakes can affect your ability to get a home loan or buy a car, which can be very frustrating to say …
What You Need to Know About Debt Collectors
Did you know that in 2011 the Federal Trade Commission (FTC) received nearly 181,000 complaints against 3rd part debt collectors? This fact alone should tell you that, in many cases, these companies and their employees don’t exactly play by the rules and in some cases are even are downright …
Can a Creditor Take Money from Your Bank Account to Pay Debt?
Creditors give borrowers several options to make payments on loans. Most credit obligations can be paid by a check, money order, cashier's check or an electronic bank transfer. Creditors prefer that payments are made electronically from a bank account. They want ensure that they receive …
Tips and Tricks for Securing a Good Credit Card
When you’re out in the mall, chances are you would see a lot of Credit Card agents giving out application forms for credit cards. It is also common that they send out mails, make random phone calls or even text messages to market their product. One would think that getting a credit card is easy. …