The Equifax Hack is the Most Dangerous Yet. You Must Act to Protect Yourself The Credit Reporting Agencies, commonly referred to as the Credit Bureaus, do not simply report on your credit worthiness. They mine for data on every American with a social security number.… Read More »The Equifax Hack is the Most Dangerous Yet. You Must Act to Protect Yourself
Phantom Debt Collectors We recently came across this really great article — “PhantoM Debt ColleCtor” by Michelle Black of creditwrtier.com. What she writes about is so impactful that we are sharing it here as well. By now you should know that credit education is a… Read More »Phantom Debt Collectors
Credit Scores & Score cards – Your FICO Credit Score and FICO Scorecards Most everyone has knowledge of what a FICO credit score is (more info in the video/education section of our website www.bestcreditrx.com) however much less known is the different scorecards used. This really… Read More »Your FICO Credit Score and FICO Scorecards
Debt Collections and your Credit Reports and Scores. Part 2 If you missed part 1 of this post— you can view it here. Debts in collections hurt your score. It does not matter if it is a medical collection, credit card, automobile repossession. They all… Read More »Debt Collections and your Credit Reports and Scores. Part 2
Debt in Collection – how does it affect your credit report??? The Fair Credit Reporting Act (FCRA) is Federal law and is very clear regarding the credit bureaus responsibility regarding what the requirements are of anything they report. The account (trade line) must be accurate,… Read More »Debt in Collections and Your Credit Report
The Consumer Finance Protection Bureau (CFPB) was born out of the Dodd-Frank Act. Dodd-Frank is the legislation passed after the 2007-2008 Great Recession to reel in the big banks and Wall Street firms and regulate them so that what led to the economic meltdown could… Read More »We Need the Consumer Finance Protection Bureau (CFPB)
Warning signs of a debt problem You may feel ‘the dark cloud of debt’ over you. Before it turns into a storm, assess your situation with guidelines that can help you avoid worse trouble. Do you have problems sleeping at night? Do you dread getting… Read More »Debt Problem? The Warning Signs – Best Credit Rx LLC
The FICO® Score is calculated from several different pieces of credit data in your credit report. This data is grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining how your FICO Score… Read More »How my FICO Score is calculated
The debt collectors break the FDCPA rules when they threaten, harass or make false statements against you. They do so in order to get back their money from you. Some problems that the consumers face due to the debt collections are: Collectors use… Read More »Great Article on Debt Collectors!
Who is Required to Report to the Credit Bureaus? Who Exactly are These Bureaus and What do They do Exactly?
Well since you asked. NO ONE. There is no law requiring any company to report to any of the credit bureaus. Many companies do, however, because they see value in having a resource to be able to judge the risk in extending some form of… Read More »Who is Required to Report to the Credit Bureaus? Who Exactly are These Bureaus and What do They do Exactly?