Credit Bureaus
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Clarification on Upcoming Changes to Credit Reports
- May 31, 2018
- Posted by: Mindy Leisure Director of Rescoring Services
- Category: News
No CommentsThere have been a lot of questions cropping up surrounding the changes coming in June to credit reports. These changes are due to the settlement agreement from 2015 between the credit bureaus and state’s Attorney Generals. The last phase of this agreement is set to be in place as of June 8th, 2018. Due to
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What Exactly is a Rescore?
- November 30, 2017
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
A “Rescore” is the updating of information on a credit report at the bureau level in an expedited manner. It is not credit repair and it is not a manipulation of the credit report. Eventually the changes that are made through a rescore would be reported at the bureau level by the creditor. A rescore
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How Safe is Your Child’s Identity?
- November 16, 2017
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
In this day and age everyone has been taught at least a few ways to protect their identities against theft. But what about your children’s identities? Social security numbers are issued at birth and since kids usually don’t use them until they are older, they are a prime target for identity theft. According to the
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Revolving Accounts – What You Need To Know
- August 31, 2017
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
Revolving balances play an important role in your credit score calculation. The total of your revolving debt makes up about 30% of your credit score. Balances on installment loans don’t have any where near the impact on credit scores as revolving balances do. While having a revolving balance or two can help your credit scores,
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Checking Your Credit Report is a MUST!
- March 9, 2017
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
Approximately one-third of the population doesn’t check their credit reports every year. Almost one-fourth have never checked them at all. Not checking your credit report on a periodic basis puts you at a lot of risk. The good news is that checking your credit reports is a very simple thing to do. A government study
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Credit Bureaus to Step Up Public Record Accuracy
- February 9, 2017
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
As the result of discussions between a group of state Attorney Generals and the three major credit reporting agencies (Experian, Trans Union, Equifax) the National Consumer Assistance Plan (NCAP) was announced in 2015. The plan is designed to provide more transparency and accuracy in consumer credit reports. The major focus of this change will be
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How Public Records End Up on a Credit Report
- May 16, 2016
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
There are three kinds of public records that can appear on credit reports: Bankruptcy Chapter 13 and Chapter 7, state and federal tax liens and civil judgments. However unlike creditors who are data furnishers like credit cards, mortgage companies, etc., courts do not, in most cases, actually furnish the information directly to the credit bureaus.
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Length of Time Items Stay on a Credit Report
- August 21, 2015
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
How long do items stay on a credit report? A lot of people will answer that question with a simple: “seven years.” In some cases this is true. Overall though, it’s not that simple. Both positive and negative items have a “life span” and those are not all the same. Let’s start with something simple.
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When Creditors Report to the Bureaus
- August 6, 2015
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
One of the most frequently asked questions we get regarding credit reports is: “When do creditors report to the bureaus?” There is a misconception that creditors report their information at the beginning of every month and that credit reports update at that time as well. But in the world of credit reporting that would make
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Credit Reports Are About to See a Major Overhaul
- March 19, 2015
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
Over the next 6-18 months credit reports will start to see some changes that could benefit many consumers. This comes from several years of investigations of the three major credit bureaus’ practices by New York Attorney General Eric Schneiderman. After a year of talks between the credit bureaus and the Attorney General – changes are