It’s time for FICO to put an end to the confusion. Consumers have been trying to figure out how credit scores are determined and why they can so drastically change for years; now, there is FICO vs. FICO 8 confusion. On April 30, 2012, FICO released a report that a growing number of consumers are [...]

Since 1989, FICO has developed several generations of the FICO credit scoring formula. In 2009 FICO introduced FICO 8, their 5th generation credit scoring formula. FICO 8’s newest formula has been revised to enhance the credit score’s ability to predict consumer credit risk. FICO 8 has been available since 2009 and according to their website, [...]

Student loan debt is on target to destroy borrowers’ finances much like the housing crisis. As the economy shows signs of recovery many Americans are finding themselves underwater in student loan debt. Many having taken out costly student loans only to find their degrees are not netting them the equivalent income. Total outstanding student loan [...]

Consumers with bad credit often only concentrate on removing negative information while repairing credit. But there is nothing worse than having only negative credit on your reports. Adding positive credit is an integral part to rebuilding credit history. Adding positive credit to your credit reports can be done by getting a credit card, personal loan, [...]

The e-Oscar method of investigating credit disputes may be the reason your credit dispute was verified as being accurate when you are positive a mistake has occurred. Credit reporting agencies (CRAs) have created an automated computerized system of dealing with consumer credit disputes. e-OSCAR enables Experian, Transunion, Equifax, and other consumer reporting agencies to create and [...]

Rebuild credit by rebuilding your credit history. Negative credit must be replaced with positive credit. You can do this by adding positive credit, deleting negative, paying bills on time and disputing errors in your credit report. Once you rebuild credit your credit score will improve. The amount of time it takes really depends on the [...]

Open a bank account at a No Chexsystems Bank; you can get approved even if you have a Chexsystems record. Chexsystems is a consumer reporting agency which means inaccurate information can be disputed. The dispute process may take some time and living without a bank account is not only inconvenient but also costly. Check cashing [...]

Build a solid credit history with credit cards that build credit. Whether you need to build credit because you have little to no credit or you need to build credit due to past credit issues, there are certain types of credit cards available on a limited basis to help build credit. Credit card companies view [...]

The main goal in fixing your credit report should be to remove negative information. Any and all negative information affects your credit score and your ability to secure new credit. Bad credit affects your good name and your name is involved in all areas of everyday life. Fixing your credit report must involve as many strategies as [...]

Traditionally rental payments have not been a part of the major credit reporting agencies. Consumers who paid rent late did not have to worry about a ding added to their credit reports, until now. In June 2010, Experian, one of the largest consumer credit reporting agencies acquired RentBureau. RentBureau was established in 2005. They developed [...]

Bad credit does not have to be a life sentence. Credit history has become an integral part of everyday life, it is just about impossible to avoid. A major component to rebuilding credit history is to re-establish credit. Re-establishing credit will not only rebuild credit history but also raise your credit scores. Here are 4 [...]

In February 2011, the IRS announced a set of new policies regarding unpaid taxes in an effort to “…Help Struggling Taxpayers Get a Fresh Start…” One of the changes will directly affect credit reports and possibly raise credit scores. If the taxpayer pays their lien IN FULL, the IRS will withdraw the lien. Normally an [...]

Question: I have a question on settling a debt with a bank from 2008. I ordered a report from Chexsystem and I hadn’t realized that I owed HSBC $130 from 2009 and I have been on the Chexsystem for that long. I would like to approach HSBC on paying this debt and getting removed from [...]

When establishing or reestablishing good credit it is important to exercise as many options as possible. Adding easy to qualify for retail cards is an excellent way to rebuild credit scores. Seek easy to get credit cards at your local appliance, furniture and jewelry stores. Radioshack and Oil Companies have been known to extend credit [...]

Only the original creditor can report you as 30, 60, 90 or even 120 days late, a collection agency should not be reporting late payments on your credit report.

More frequently debt collectors are bringing old debt back to life and going after consumers for payment but there are ways to fight back.

Court judgments can remain on your credit report for 7 years or longer if unpaid and can increase as long as it remains unpaid.

The Charge-Off Center offers professional help to remove Charge-Offs as well as do-it-yourself strategies to dispute charge-offs. A charge-off is the No. 1 reason for being denied credit according to Bankrate.com. Charge-offs can be detrimental to a credit score, especially if they are recent. A single Charge-Off on your credit reports can keep you from [...]

Like or not credit scores have become an integral part of our lives. When lenders pull your credit score what does it say about you?

One of the top questions we get on this website is “where can I get a loan with bad credit?” The economy is slowly recovering and getting approved for credit is still challenging, especially if you have bad credit. The options for a bad credit loan are limited and what resources are available can be [...]