Credit clean-up

"I really enjoyed reading your article about credit repair companies offering false hopes and essentially scams to consumers," ... on your credit report. Credit repair companies can negoitate a repayment plan and might even get fees removed ... of the FTC's Bureau of Consumer Protection said, "Companies that promise they are able to scrub your credit [more...]

Date: 2008-10-27 19:40:13

Blog posts (198) | Videos (77)
 

Questions About Collections? Ask Melissa

Dear Melissa, My daughter is in the midst of a career move and has had a bill sent to a collection agency in the state she previously resided in ... can absolutely not affect your credit report in any way.  Consumer debt is not transferable ... the payment.  The agency will report to the credit bureaus that the account is paid, if applicable [more...]

Date: 2009-01-14 13:00:17

Rx for Arizona Consumers’ [HomeBuyers} Credit

Find out what’s in their file. Every U.S. consumer is now entitled to one free credit report annually from each of the three credit bureaus: Experian, ... a collection agency. Excise outdated information. By law, credit bureaus are supposed to remove information ... is to write a letter to all three credit bureaus detailing the dispute. (Some states [more...]

Date: 2008-12-23 19:30:07

One Way to Protect Against Identity Theft

When information gets stolen, it is used in various ways. Sometimes the thief may use it to drain your bank account, for example ... will not extend credit without first pulling a consumer’s credit profile. If you place a “security freeze” on your credit profile, the reporting agencies are prohibited from releasing your credit [more...]

Date: 2008-09-22 21:10:55

Credit Repair is Easier - And Quicker - Than You Think!

by Mark Alison Regardless of your record or history, there are a number of quick & easy steps you can take towards credit repair ... consumers to a free copy of the credit report, one from each of the three agencies: TransUnion ... your credit. For every entry that is incorrect, inaccurate, or outdated, you will be filing a dispute [more...]

Date: 2008-11-26 15:45:27

Three Legislative Proposals That Could Have Major Consequences for Your Finances

J.D. is on vacation. This guest post comes from DR of The Dough Roller, a money management blog ... in a consumer report or any change in a consumer’s credit score, as the basis for increasing any annual ... on Wall Street and in the credit markets lately, one could easily forget about money-related legislation [more...]

Date: 2008-12-18 13:00:42

A Glimpse at Future Credit Card Statements

Every Tuesday, Smithee presents an article about his own experiences with credit cards and observations about the credit card industry ... Suspended for Merchant Database Breach: ...Consumer Reports: Best and Worst Credit Card Issuers ... . Back in mid-December we told you about some of the changes that would soon be enforced on credit [more...]

Date: 2009-01-13 13:02:01

FTC Crackdown on 36 Credit "Repair" Companies

sweep.jpg Ever wonder if those TV ads claiming to help you repair your credit are legit? ... they are able to scrub your credit reports of accurate, negative information for a fee are lying - plain ... information from consumers' credit reports, even if that information is accurate and timely. The FTC [more...]

Date: 2008-10-28 11:15:52

FreeCreditReport.com scam

I was looking over my checking account transactions for the past year and saw a mysterious $12 ... credit report program. Under a new Federal law, you have the right to receive a free copy of your credit report once every 12 months from each of the three nationwide consumer reporting companies [more...]

Date: 2009-01-01 02:16:00

Recognizing a Credit Repair Scam

by David Wada Everyday, companies target consumers who have poor credit histories with promises to clean up their credit report so they can get a ... and someone else has your money. If you see a credit repair offer, heres how to tell if the company behind it is up to no good: * Before they provide any credit repair services, the company wants [more...]

Date: 2009-01-16 06:24:58

Another Consumer Scammed By FreeCreditReport.com [Freecreditreport Com]

Freecreditreport.com is NOT actually free, nor is it related to Annualcreditreport.com, the free credit report that you are entitled to under federal law. So why are people still ... of my credit report. All of the major credit reporting agencies seem to strong arm you towards [more...]

Date: 2008-08-11 16:29:44

Saving your credit and credit scores

I have blogged about my experiences with American Express and their systematic reductions in my credit lines ... as “closed as consumer’s request”)  which would have locked in the higher credit limit on the credit report. Canceling a card with a good history will impact your credit, but being at 99-100 [more...]

Date: 2009-01-14 23:51:28

Identify Credit Repair Scam in 6 Ways!!

by David Wada Everyday, companies target consumers who have poor credit histories with promises to clean up their credit report so they can get a ... and someone else has your money. If you see a credit repair offer, heres how to tell if the company behind it is up to no good: * The company wants you to pay for credit repair services before [more...]

Date: 2009-01-16 06:23:45

Free Credit Reports and How to Use Them

... when consumers who were responding to an ad for a free credit report found themselves enrolled in a monthly service.  The FTC stepped in and amended the Fair Credit Reporting Act to require each [more...]

Date: 2008-10-08 08:05:49

Collection Agency calling from 571-431-1958 (Washington, VA)

Steve reported a Collection Agency (5714311958 from Washington area, VA) . The following comments were posted: AACC AACC AACC 5127689800 AACC 804-234-9056 assetacceptance.com Asset Acceptance is a leading purchaser and collector of charged-off consumer debt. Since 1962, we have provided credit originators such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt. [more...]

Date: 2009-09-25 19:53:49

The Best and Worst of the Credit Card Industry

The newest Consumer Report is in and their agenda was the dozen or so cards that consumers should be seeking out, and the several to stay away from ... sure it’s a card you can use! 1.) Capital One No Hassle Cash Rewards 2.) Chase Freedom Visa ... are as follows: 1.) Chase PerfectCard MasterCard ( I believe this is a business credit card…I don’ [more...]

Date: 2008-12-08 06:38:50

Time to reform the Consumer Credit Act?

Iain Dale has posted about a report that has been released by Grant Shapps called "Payday for Loan Sharks" ... the Consumer Credit Act laws has grown at a massive pace. The only way to resolve these sort of issues ... which details home credit company charging interest rates from 100% APR to 10,000% APR. I think [more...]

Date: 2009-01-09 09:48:38

5 Credit Repair misunderstandings

Amazingly, consumers find more than 13 million inaccuracies on their credit reports each year ... , there is a better way. Mortgage lenders and car dealerships have direct admittance to the credit ... . These inaccuracies can cost you the purchase of a home, a car, interest rate increases [more...]

Date: 2008-12-12 19:25:14

Consumer Advice to Ring in the New Year

December 23, 2008 FTC News Release: Nine Consumer Tips to Make the Most of 2009 As 2008 draws to a close, ... include: Get a free copy of your credit report. Visit www.annualcreditreport.com or call 877-322-8228 to request a free credit report, once every 12 months from each of the nationwide consumer credit [more...]

Date: 2008-12-23 18:24:31

Credit Repair Scheme Promises Fast Score Increases But May Be Illegal

Establishing a good FICO credit score isn’t all that difficult; all you have to do is pay your bills on time ... to wipe out a judgment or a bankruptcy from your credit report. Most consumers, understandably, would rather not wait that long and there is not shortage of companies that promise to repair credit [more...]

Date: 2009-01-08 08:18:32

A Housing Market Detached From Reality

The Ukiah Daily Journal reports from California. “Worried consumers, ... , assets, credit and long-term job stability,’ as requirements for a home loan, said Ginny Richards ... a loan with no money down and no proof of income are over. If you’re buying, Richards advises, ‘ [more...]

Date: 2008-11-22 17:46:53

Citibank Will Split Into Two Companies, Promises To Lend To Consumers [Citibank]

Vikram Pandit, CEO of Citigroup, announced today that the company would be split after reporting a net loss for 2008 of $18.72 billion. He also promised to put the money from the $700 bailout to work by extending credit to consumers ... the U.S. economy and consumers - expanding the flow of credit to U.S. households and businesses responsibly [more...]

Date: 2009-01-16 13:30:55

PPI and Retail Sales Dominate The Calendar

The economic calendar starts very slow this week, with only the Pending Home Sales report coming on Tuesday ... to show another decline, although not as bad as the October report. With limited access to credit, consumers aren’t buying much right now even though we are approaching the holiday season. The report [more...]

Date: 2008-12-08 14:30:40

Wednesday Night Marketing News

When I lived and worked in Metro Detroit, the Auto Show was one of the highlights of winter.. ... . "The issues are limited range, long charge times and durability," says David Champion, Consumer Reports ... Financial Services Private-Label Credit Card Biz 'More Bleak Than Sunny' by Les Luchter "Online [more...]

Date: 2009-01-14 23:00:00

I Guess Our Mortgage Is Officially Considered Small

As a follow up to the post I wrote a few days ago about the new consumer protection laws and the possibility that thrift stores would have to stop ... scores until now.  We went to the annual credit report site and picked Experian.  Credit scores were ... on credit scores.  Since we’re considering buying another house, we decided to take a peek at our cre [more...]

Date: 2009-01-09 08:15:42

Credit Karma Uses Ad Model to Provide Free Credit Information

According to the 2007 Online Banking Report, approximately one in three US adult consumers monitors or checks their credit score in some form or ... the score is usually only free if you enroll in a credit monitoring service. In this margin-rich industry ... . FreeCreditReport.com and TrueCredit.com, the consumer direct sites of Experian and TransUnion [more...]

Date: 2008-11-25 19:39:56

Federal court gags on gag orders

National security letters have been a stain upon the U.S ... oversight. Some oversight, implying a bit of restraint. In a 2007 report (PDF) revealing ... , and consumer credit agencies. In these letters, the FBI can direct third parties to to provide [more...]

Date: 2008-12-17 02:41:48

What You Can Do To Keep Your Credit Score Afloat

Are you ready for a fresh financial start this year? Here are a few easy ways to spring clean your credit score, and begin today to pay down your debt. Order a copy of your credit report. Consumers have access to one free copy per year from the three [more...]

Date: 2008-04-29 21:58:58

Record Credit Card Defaults Signals a Weaker Recovery

According to reports from Moody’s ( MCO ) Investors Service, credit card delinquencies surged to record levels in August.  In the first increase of charge-off rates since the rally began in March, credit card issuers wrote off 11.49% of uncollectible consumer debt compared to 10.52% in July.  Also loans more than 30-days past due also rose to 5.8%.  Moody’s report also suggests that charge off rates are not likely to peak until mid-2010, as unemployment continues to strain many consumers budgets. [more...]

Date: 2009-09-24 14:40:21

HSBC are thugs (sorry “partners”)

HSBC has gotten a little aggro lately – an analyst dispute widely reported in the FT and other places ... be found here and here amongst dozens of consumer rip-off reports on the web.Bally managed to report ... but they included penalties as per credit cards.  Obviously collection was a problem.  Bally filed [more...]

Date: 2009-01-15 23:27:00

Headline News - January 7, 2009

Hypercom Appoints Stuart Taylor Vice President, Global Marketing New Mercator Advisory Group Report: Small Business Credit Card 2008 Update: ... in credit card terms Economix Blog - NYTimes.com: Crisis Comparisons: How Bad Might It Get? Laru ... from Credit Cards, Could Save Consumers $500 Million Annually Over Competing Prepaid Cards Get Rich Slowly [more...]

Date: 2009-01-07 13:30:03

How To Deal With Bill Collectors

In today's unstable economy people are consumed with financial matters ... , the credit card company may report you to a collection agency. This debt collection company is hired ... . Initially, you'll receive calls from your credit card company informing you of your late payment [more...]

Date: 2008-12-04 01:40:51

A consumer complaint about Consumer Reports

This story just drips with irony! 2 ... be trusted. No fault of theirs, my credit card number got out to some bad guys in Malta or Africa, and the credit card company detected it, contacted me as I was checking into a hotel in NY (by declining [more...]

Date: 2009-01-12 13:57:29

How to improve your Credit

Credit Score is the method used by financial institutes to measure your financial health at a specific point in time. It indicates the risk you represent for lenders, compared with other consumers. In Canada, credit history is recorded in files maintained by at least one of Canada’s three major credit-reporting [more...]

Date: 2008-11-19 12:43:21

4 Free Reports With Your Personal Insurance, Employment, and Tenant History

Most of us know about the free credit reports from AnnualCreditReport.com. This is mandated by the Fair and Accurate Credit Transactions (FACT) Act, which basically says that consumers should be able to see (and dispute) the massive amount of information contained in private corporate databases. But in addition to credit information [more...]

Date: 2008-06-04 11:08:42

Tell Us Something We Don't Know: Consumers Deeper In Debt

From the "not news" file comes a report from credit rating firm, Equifax, that consumers are falling more deeply into debt. According to Reuters, Dann Adams,... This is a content summary only [more...]

Date: 2008-12-23 20:47:24

Credit Card Debt: Next Big Hit to Banks?

Given how overextended consumers are, and how banks have been cutting back on the cheapest piggybank, home equity loans, by slashing those credit lines, and the reports of rising delinquencies from even conservative ... in credit card losses. But under the new bankruptcy code, if you do no qualify for Chapter 7 bankruptcy [more...]

Date: 2008-10-01 09:17:30

Retail Sales Extend Record Streak of Monthly Declines

U.S. retail sales fell 2.7% last month and will likely continue on a downward trend as job losses mount ... - as falling home values, tight credit conditions and soaring unemployment have sent consumers into a full ... , confirmed reports that the 2008 holiday shopping season was the worst in since World War II [more...]

Date: 2009-01-15 16:25:51

Identity Theft

by Landon McGehee Immediately upon becoming aware that your identity has likely been stolen, it’s easy to begin to panic ... . In addition, reporting to the FTC (or their Consumer Alert website) will alert the three credit bureaus ... and still allows a thief to use your existing credit. Often the FTC requests that you change [more...]

Date: 2008-12-20 13:16:13

Voting Consumer Alert!: Voter Registration Scams Asking for Social Security Numbers and Credit Card Information

Washington, DC - Shaun Dakin, CEO The National Political Do Not Contact Registry - Sign up for free at StopPoliticalCalls ... consumers to a report from the Federal Trade Commission (FTC) of a voter registration scam involving ... to immediately report them to the FTC at www.ftc.gov. Consumers who may have already provided [more...]

Date: 2008-09-25 15:38:02

MyECheck, Inc. (MYEC.OB) Reports Astronomical Growth for 2008; Revenue Increases 1,096%

Yesterday after the closing bell, MyECheck announced that it has processed about 2 ... system. Unaudited 2008 financial results report that the company’s fourth quarter revenue ... future, particularly in this credit crisis. As credit is reduced, consumers need a fast and safe [more...]

Date: 2009-01-14 13:36:14

Mobile banking is too risky in the eyes on consumers

According to a recently published report entitled “2008 Mobile Banking Security Standards” consumers are too wary of security to use their mobile ... for mobile banking transactions instead of whipping out cash or a credit card isn’t worth the risks that it entails. However, the same report being cited here earlier suggests ways of making [more...]

Date: 2008-12-31 09:24:33

Car, RIP: Now for Argentine Automaker Bailouts

Reading today's headlines, you cannot help but think that the days of the internal combustion engine-powered automobile are numbered ... of bad news for the global auto industry get you down. It appears that even LDCs are getting ... on a plan to provide consumer credit to finance the purchase of locally made cars. Reuters reports [more...]

Date: 2008-12-07 13:55:00

US retail sales, eurozone industrial production fall

Wednesday brought yet more gloomy economic data. Bloomberg reports that US consumers are cutting back on spending. Sales at U.S ... of credit led Americans to cut back on everything from car purchases to eating out. The 2.7 percent slump ... . The decline in purchases and lack of credit caused a further weakening in the economy across almost all areas [more...]

Date: 2009-01-15 00:21:48

The Subprime Crisis Hits Home Hard in California—Package of Bills Heading to the Governor

By Mark Ridley-Thomas California State Senate Chair, Legislative Black Caucus It comes as no surprise, ... and harnessed with unsustainable high interest subprime loans, whether they had good credit ... loans compared to any other group, according to a report by the Consumer Federation of America [more...]

Date: 2008-09-09 22:52:06

Fed predicts economy will get worse

Fed predicts economy will get worse Posted January 6th, 2009 by TN Volunteer In the minutes from its last meeting, ... of 2008, which took the unemployment rate up to 6.7%. The December report will be released ... , low consumer confidence, weakened household balance sheets and tight credit conditions. It said [more...]

Date: 2009-01-06 21:20:58

BofA: Mounting Costs Could Lead to Quarterly Loss

Bank of America is scheduled to report fourth quarter 2008 results before the market opens on Tuesday, January 20. Based on our analysis, we at EarningsPreview.com are expecting BAC to report disappointing ... to suffer in this recessionary environment. Consumers are in the midst of a severe credit crunch [more...]

Date: 2009-01-16 08:56:16

Consumer confidence falls to record low

The Conference Board reported a record low in consumer confidence in the U.S. going all the way back to 1967 when record-keeping began ... percent. In bad news for retail sales, only 4.4 percent of the sample say they expect to buy a car ... . Falling home equity, plunging stock markets, and a credit crisis, the likes of which few [more...]

Date: 2008-10-28 15:34:00

More Consolidation Debt Help

Debt got you down? You’re not alone. Consumer debt is at an all-time high and it’s not getting any better any time soon ... on your credit report for 10 years, and can hinder your ability to get credit, a job, insurance, or even a place to live. The Federal Trade Commission (FTC) cautions consumers to read between the lines [more...]

Date: 2008-12-07 14:49:49

Financials, Cyclicals - Plus Retailers - Weigh On Equities

LOSSES STEEPEN AS EARNINGS REPORTS NEAR The same dragons that have ravaged the countryside and laid waste to the good citizens of Wall Street - ... of other financials lost ground, on a combination of worries about the fourth-quarter earnings reports that are due out shortly, and exposure to the consumer, amid clear signs that credit-card spending [more...]

Date: 2009-01-15 21:10:46

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