Credit Education

The dispute process is one of the most difficult and time consuming aspects of running a credit business. When you manage your own disputes you are constantly dealing with the ever changing tactics of the credit bureaus and data furnishers. Plus you are consumed with issues relating to staffing, supplies, ongoing training, compliance issues relating […]

When viewing your client’s credit reports you will notice some accounts differ for each credit bureau. Some accounts will have different information between credit bureaus while others may not even appear on all three reports. The reason reports differ is because each credit agency collects data independently. Some furnishers including smaller banks and debt collection

One of the main criticisms of credit scoring is the extreme variation between credit scores. Studies have shown scores to vary as much as 100 points between credit bureaus. There are several reasons for this. The first reason is not all creditors report their information to all three credit bureaus, and if they do, they

Yes, there are MANY different credit scores out there.  There are credit scores consumers can pull themselves through credit monitoring, mortgage scores, auto scores, and many more. There are actually over 16 different credit “scorecards” that exist today. Each of these scorecards will reflect different credit scores. These scorecards are designed to help particular industries

Why are loan originators the best course of referrals? It’s because they are able to increase their loans and convert their turn downs by sending them to you to handle their credit repair. It is their responsibility to make sure they are sending their clients to a trusted source, and from a business point of

The number one source for referral partners are Loan Originators. Loan Originators are professionals that have clients that needs to meet a certain credit criteria, so they can sell their product or provide their service. Mortgage brokers, loan officers, realtors, car dealerships … anywhere a consumer goes and applies for credit and has the ability

Federal laws including the Equal Credit Opportunity Act and Consumer Credit Protection Act prohibit certain things from being factored into credit scores. Such things include: Race, color, religion, national origin, sex and marital status. US law prohibits credit scoring from considering these facts, as well as any receipt of public assistance, or the exercise of

Here is a list of what you will see on a credit report: Accounts/Trade lines:  This includes credit cards, auto loans, mortgages, real estate, installment loans and revolving debt like department store cards. The report will include information on the accounts such as the balance, payment history, terms, and account status – such as whether

When asked, “What should I dispute” – the answer is simple. The Credit reporting agencies and data furnishers have a legal obligation to abide by three important standards. Everything that is on a report MUST BE: Within Date– Every item that is reporting must be within the allowable reporting period (Typically 7 years for accounts

A lot of people get the statute of limitations confused with the FCRA credit reporting time.  While they’re both time limits related to debt, they have different effects. The statute of limitations for collecting a debt is the period of time that a creditor or collector can obtain a judgment through the court system to