Disputing an old collection account can trigger the collection agency to renew their collection efforts or sell the debt to a new debt collector.
Charged-off account does not mean the debt is no longer owed (unless you file for bankruptcy). Creditors still retain the right to collect the full amount of debt either through internal collections, lawsuit, sell or transfer to debt collector.
If a merchant uses Telecheck to verify checks, your checks can be denied even if you have money in the bank or have never bounced a check.
Charge-offs that update monthly inflict continuous pain on credit scores. If a charge-off has an open status and amount reporting credit utilization goes up.
Like it or not your credit history is an integral part of everyday life. Whether you are making a big purchase like a home or car, or applying for a credit card, your credit scores are practically unavoidable. They’re one of the main factors a lender uses to determine creditworthiness. They help lenders see how…
July 1 marked the date new rules went into effect basically removing nearly all civil judgments and some tax liens from credit reports.
ChexSystems maintains a database on consumers with bank accounts and you are entitled to see what information exists about your banking habits.
“In order to build or rebuild credit you have to use credit accounts because creditors like to see evidence in your credit report that you have a history of paying off credit on time.” Whether you need to build credit because you have little to no credit or you need to re-establish your credit history,…
The main goal in fixing your credit report should be to remove negative information while adding positive information
If you’ve resolved to raise your FICO scores in 2017, you need a game plan — here’s how to get started.