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Are Consumers being taken with the New 2...

Now the the New Reform bill has been passed I noticed creditreport.com offering 2010 free scores.   How nice of them?  This is a trick they are using to take advantage of consumers who are not educated to the details of the reform and who qualifies for it.  When you fill out the application for the free scores you are asked for your credit card information.  This means it is not...
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Credit Karma and free scores?...

www.creditkarma.com offers free credit scores to consumers no strings attached?  Well they do offer free credit scores anytime a consumer would like to see them.  The problem is they do not disclose what score it is and how it relates to your Fico score.  Since the Fico Score is used be bankers to decide consumers risk levels when applying for a loan it is extremely important for...
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Are Debt Collectors suing consumers with...

Collection agencies, in New York, are in many cases putting judgments against consumers that are unwarranted and illegal.  As usual the consumer is the victim.  It seems there have been an enormous amount of consumers that have found garnishments against their income or accounts frozen without ever knowing they had a judgment against them in the first place. In other cases debt is...
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Experian’s definition of the”...

“The PLUS Score is derived from information based on a credit report, using a similar formula to those used by lenders. It can range from 330 to 830, with a higher score indicating lower credit risk. Modeled using the most current consumer information available, the PLUS Score best educates consumers about how to manage their credit and credit risks. The PLUS Score gives consumers...
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What does the National Score Index offer...

This score offers a view for consumers to see how their credit compares to others in the United Sates.It alos offers understanding of changes in consumer patterns with financial behavior locally, regional, state, and national levels. Experian says “Using its extensive consumer data and sophisticated analytic resources, Experian has created a reliable and intuitive score index....
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Who created the National Score Index?...

Experian created the National Score Index to give consumers a view of how the compare with othe consumers in the United...
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What could the savings be on a mortgage ...

About 6 months ago we had a client who was a successful Doctor that was interested in refinancing a very high mortgage. His score was a 680 and the mortgage was over one million dollars. He needed 40 points and his mortgage would go from $28,000 a month to $18,000. The savings he would enjoy were huge. This is typical in terms of the value of having high scores. It doesn’t matter...
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Do Fraud Alerts Hurt Your Credit Score?...

The answer is NO.  It does not matter how many times you put a fraud alert on your credit report it will not reduce your score at...
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Short Sales……What are the fa...

Short Sales are a topic of much confusion and when it comes to how they affect scores it is no different.  A Short Sale is when a bank agrees to take less than the current mortgage owed as full settlement on the loan.  I have written a few articles about this topic in the past but since there have been many rumors lately it seemed a good time to bring it up again.  The rumors I have...
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Did you know there is a credit bureau fo...

Central Credit LLC is a Los Vegas based credit bureau that compiles information on Gamblers to Creditor’s making decisions about approving credit extensions. This bureau recently came under scrutiny and is now being sued for practices against the Federal Trade Commission Act and the Fair Credit Reporting Act. The CC LLC “allegedly” failed to provide to users of its...
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