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Information on mortgages, home equity loans, and consumer credit to help you use the power of financing to your advantage.
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• FREE Credit Report and Credit Score.
Consumer Credit Report Tips
• Your Access to Free Credit Reports. A credit report contains information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home. There are three nationwide consumer reporting companies — Equifax, Experian, and Trans Union.
• New Law Promotes Access to Free Credit Reports. Soon you'll be able to get your credit report for free. A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months, from www.annualcreditreport.com. The Federal Trade Commission (FTC), the nation's consumer protection agency, has prepared a brochure, Your Access to Free Credit Reports, explaining your rights and how to order a free annual credit report.
• 4 Steps to Establishing Good Credit. As a consumer you’ve learned the importance of establishing a good credit rating with your lenders. Whether you are shopping for a new home or auto, or searching for the best deals on insurance, your credit worthiness will be judged by your credit rating or credit score.
• Getting Your Credit Report and Understanding What's On It. If you intend to apply for a loan, you need to obtain your credit score. Understanding what this score means will allow you to make the loan process easier and quicker. Let's face it; most people want the loan process to be as painless as possible. Obtaining and understanding your credit score will help you see potential problems and perhaps eliminate them before you begin the loan process.
• Credit Scoring: What It Is, And How It Affects You. If you have applied for a mortgage in the past five years, you’ve probably heard of credit scoring by now. Perhaps you were told that your credit scoring was wonderful, or needed work. Or maybe your mortgage would have been lowered by several points, if you had better credit scoring.
• One in four credit reports has serious errors, group says. One in four credit reports has errors serious enough to disqualify consumers from buying a home, opening a bank account or getting a job, a consumer group says.
• Credit records can affect consumers looking for jobs, buying insurance, renting apartments. Brenda Matthews thought she had a new job lined up at Johnson & Johnson headquarters in New Jersey...
• Fair Isaac introduces new credit score for 'underserved' consumers. Some American consumers have a tough time qualifying for credit cards, mortgages and other loans because they don't have a credit history _ young people, recent immigrants, the newly divorced or widowed, and members of ethnic groups that traditionally haven't used credit.
• Too Good Credit History. Is there such a thing as having too good a credit history? The answer is yes and no.
• Heavy volume for new free credit report service. Credit reporting bureaus reported heavy demand for a new service that allows Copyright Associated Pressconsumers to request free credit reports.
• Free credit reports become available. Millions of Americans are about to get free annual copies of their credit reports.
• Free credit report program begins for residents of Western states. Americans who want to make sure their credit reports are accurate or check their financial histories can get the information for free under a program starting Wednesday.
• Credit and Divorce. Mary and Bill recently divorced. Their divorce decree stated that Bill would pay the balances on their three joint credit card accounts. Months later, after Bill neglected to pay off these accounts, all three creditors contacted Mary for payment. She referred them to the divorce decree, insisting that she was not responsible for the accounts.
• Are you aware that your credit history and other personal information may affect your ability to buy health, disability, and life insurance? Thanks to a recent rule by the Federal Trade Commission, all insurance companies that are members of the Medical Information Bureau have to inform you if a credit report or other data, such as your driving record, criminal activity, and medical condition played any part in your being denied coverage or charged a higher rate.
Helpful Links on Consumer Credit Reports
Tips on dealing with errors on your credit report
• My credit report is long and confusing and has some mistakes. What should I do? If you ordered a copy of your credit report and found parts of it were less than accurate, you're not alone. According to a recent survey by the U.S. Public Interest Research Groups, 79 percent of credit reports contain some sort of error, and 25 percent include mistakes serious enough to result in the denial of credit.
• Solving Your Credit Problems. Your credit report influences your purchasing power, as well as your chances to get a job, rent or buy an apartment or a house, and buy insurance. A history of timely credit payments helps you get additional credit. Accurate negative information can stay on your report for seven years.
• Improving Your Credit Report Under the law, both the Credit Reportinig Agency (CRA) and the organization that provided the information to the CRA, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report.
• How to Dispute Credit Report Errors. Your credit report--a type of consumer report--contains information about where you work and live and how you pay your bills. It also may show whether you've been sued or arrested or have filed for bankruptcy. Companies called consumer reporting agencies (CRAs) or credit bureaus compile and sell your credit report to businesses.
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Lendingtips.com 464 Oak Avenue Naples, FL 34108
Phone (239)877-7835 Fax (239)594-5686
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