We all know credit reports can be confusing at times to say the least. Some aspects of the data on credit reports just seem to make no sense, but some parts can be more confusing than others. To start off 2022, let us touch on some of the biggest issues asked about in 2021. 1. … Read more
Due to an advisory opinion recently released by the Consumer Financial Protection Bureau (CFPB), all consumer reporting agencies must cease in providing any information on a credit report that is based only on a consumer’s first and last name and excludes any other personally identifiable information (PII) such as Social Security Number (SSN), address and … Read more
Evergreen, Colo., December 1, 2021 – For the ninth consecutive year, Advantage Credit, Inc., has made a donation in honor of their customers to celebrate the holiday season. For 2021, they have made that donation to Save The Children. “The original thought we had nine years ago was to find a unique way to thank … Read more
The ins and outs of credit are unfortunately not something taught in most schools these days. So, by the time a person graduates from high school and enters college or the work force, they have no idea where to begin to start establishing credit. While credit can be intimidating, it does not need to be … Read more
Fannie Mae announced last week that beginning September 18, 2021, they are going to start including rental payments in their credit evaluation process. This will be a new feature added to their Desktop Underwriter (DU). The information will be taken from the consumer’s bank statements and input into their system and it will recognize all … Read more
In 2020 the House passed two bills that could have a dramatic impact on credit reports. The Comprehensive Credit Act and the Protecting Your Credit Score Act of 2020(21). Both are similar and provide pretty extreme changes to what some consider to be a very unfair credit reporting system. To summarize, there are five main … Read more
Under the CARES ACT thousands of consumers took advantage of the mortgage loan forbearance option. During that time no late payments were supposed to be reported to the credit bureaus, as no payments were being made during that time. Unfortunately, this was not always the case. The largest number of late payments that seem to … Read more
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