Mindy Leisure Director of Rescoring Services At some point in everyone’s life they will be in debt. That debt may be because of a mortgage, auto loan, student loans, or revolving balances. For most of these there is an end in sight as they begin with a specified amount of time to repay the debt. The exception is revolving balances. If … Read more
Imagine walking into work one day and being called into the boss’s office only to be questioned about why you have filed for unemployment?! Clearly you have a job…or at least you thought you did five minutes ago! In this case, you are most likely a victim of an employment identity theft scam. While this … Read more
Payment history is one of the most important categories of your credit report. It makes up 35% of your credit score. With busy lives and so much to keep up with it is, at times, possible for a payment to be missed. For things that do not report on your credit file, i.e., utilities, rent, … Read more
For a lot of people during these uncertain times our new best friends are Amazon Prime, Grub Hub, Door Dash, and all the delivery drivers, etc. They come to our door two to three times a week bringing up groceries and household needs. In some cases, we may even see these people more often than … Read more
When it comes to credit reporting, there are two questions that are asked consistently: Do creditors have to report to the bureaus? And how can I get my rent to report to the credit bureaus? Looking at the first question – Do creditors have to report to the bureaus? – the answer in a word … Read more
One in five consumers have some sort of error on their credit reports. While a lot of these are things like a name misspelling or incorrect address, some are more serious and can have a significant impact on credit scores. Disputing these inaccuracies is fairly simple, but what happens when an item is disputed? And … Read more
How Often Do Credit Scores Update? By Mindy Leisure The question is often asked, “should I pull my borrower’s credit report after the first of the month to see the most updated credit scores?” The assumption being that credit reports update during the first part of the month…actually this is far from accurate. Credit reports … Read more
There have been a lot of questions lately about installment loans and their importance to a credit profile. Such as: Does an installment loan help or hurt? How much do the balances on installment loans affect a score? What about the payment amount? Is that a factor that is considered? What happens when its paid … Read more
Short answer, the reason why your credit score is not increasing is something that you have probably never heard of called “Scorecard hopping.” Let’s say you have been working diligently to get a small medical collection deleted and you finally get the collection agency to write you a “pay for delete” letter. After a few … Read more
If you are thinking about purchasing a home or refinancing your existing home, your credit scores needs to be your number one priority right now. Given the uneasiness of today’s financial climate and the continuous volatility of the stock market, credit score requirements are increasing exponentially. While the entities that back most loans (Fannie, Freddie, … Read more