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Follow our credit repair blog for the most up to date credit education, credit repair tips and financial news. Check out our latest testimonials and success stories and keep up to date on the changes that effect your credit score.

Experian Fined by CFPB Months After TransUnion, Equifax Dinged for Similar Acts

Posted by Nikitas Tsoukalis on April 12, 2017

False advertising is defined as misleading consumers or potential consumers with incorrect or unproveninformation. You might say that Experian, one of the major credit scoring agencies, was found guilty of this recently. Specifically, Experian was fined $3 million by the Consumer Financial Protection Bureau (CFPB) for incorrectly telling consumers that the credit scores it offered were used by lenders to make decisions.

In addition to the fine, the CFPB informed Experian that it must be honest and accurate when relaying messages about the credit scores it offers moving forward.
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Posted By : Credit Repair, Credit Scoring Model, Finance News, Hot Credit & Financial news

Tax Liens, Judgments Could Be Omitted from Credit Reports in Near Future

Posted by Nikitas Tsoukalis on April 12, 2017

The Consumer Financial Protection Bureau (CFPB) has been winning a lot of battles for the people lately. Aside from socking Equifax and TransUnion with fines for deceiving consumers back in January. More recently, it hit Experian with a $3 million fine for the same thing in March. Now, it’s recently championed an effort to change the way tax liens and judgments are reported on your credit record. It's a major shakeup when it comes to credit reporting.
read more

Posted By : Credit Repair, Finance News, Hot Credit & Financial news, Real Estate News

How to Build Your Credit Score After Foreclosure or Short Sale

Posted by Nikitas Tsoukalis on April 12, 2017

So you've foreclosed on a home or had to sell for less than what you owed on the home? You probably think you're doomed as a consumer moving forward. And while a short sale or foreclosure is never something that you want to have on your credit report, neither is a be-all, end-all when it comes to purchasing power. However, it should go without saying that either a foreclosure or short sale will require consumers to enact some credit repair. read more

Posted By : Credit Repair, Finance News, Hot Credit & Financial news, Tools & Tips

Getting preapproved for a mortgage loan

Posted by Nikitas Tsoukalis on April 12, 2017

Spring has sprung, and beyond just the greening of grass, warming temperatures and longer days, it's also a period of the year that sees a significant uptick in real estate activity. Yes, with an increase in overall inventory come spring, the season is an ideal one for buyers on the hunt for their next home. But before you can buy, you need to get preapproved.

Unfortunately, getting preapproved is easier for some consumers than it is for others. Some consumers may need to enact some credit repair tactics to get their credit score where it needs to be for home buying. read more

Posted By : Building Credit, Buyer Tips, Finance News, Hot Credit & Financial news, Real Estate News

Here’s How 30% of Americans Are Putting Their Credit at Risk

Posted by Nikitas Tsoukalis on March 22, 2017

Say you have great credit. You usually pay off your credit card – or minimally have your debt-to-credit ratio at or below 30 percent. You’ve always paid your bills on time. You have solid credit history. So when you head in to the lender’s office to get pre- read more

Posted By : Company News

Fannie Mae Deepens Credit History Checking

Posted by Nikitas Tsoukalis on March 16, 2017

Like most Americans, you’ve accrued some credit card debt. You’re paying it off, but mostly sticking to just making the minimum payments so that you’re able to meet your other financial obligations. No big deal, right? Sure, you’ll pay more in th read more

Posted By : Buyer Tips, Credit Repair, Finance News, Hot Credit & Financial news

Should You Ever Pay for Your FICO Credit Score?

Posted by Nikitas Tsoukalis on March 16, 2017

A crucial aspect of knowing whether or not you’re in need of credit repair is obviously learning what your actual credit score is. After all, those crucial three digits are what lenders look at when deciding how at-risk of a consumer you are and whether or not your application should be approved or denied on everything from mortgage loans to auto loans to student loans. But how consumers attain this credit score information is a topic that has always been up for debate. The aspect of how to attain credit scores recently made headlines again, as two of the leading credit reporting agencies in the United States were fined for allegedly charging consumers to check their credit scores – a practice viewed as unethical and misleading by the Consumer Financial Protection Bureau. In light of these recent events, the question remains: Should consumers pay for their FICO scores? Or should they rely on free avenues for attaining this crucial data?

Where to Get Free FICO Scores

Most experts advise consumers to check their credit scores and credit reports at least once a year. This is suggested even for consumers with very good credit, as checking such information annually can help detect potential errors and lead to quicker all-around fixes. Federal law permits consumers to attain credit reports free of charge from the three main credit reporting agencies once a year. Consumers that are looking to repair credit to make themselves more attractive on a loan or credit card application, however, may need to check their scores more frequently than annually to judge where they stand. The good news is that more and more outlets are making it easier to do this on a complimentary basis. Here’s a look at some of these free avenues available for checking your credit score:
  • Your bank or credit union: Many financial institutions will offer free credit score checks for members. Some may even offer complimentary consulting services to help consumers reach their credit score goals.
  • Your credit card company: Credit card companies like Discover now offer free credit scores to both cardholders and non-cardholders. Citi and Chase have similar policies. Others may provide your credit score if you simply ask.
  • Websites: If you go the route of getting your credit score through a website, it’s important to make sure that the site is a credible one (i.e. CreditKarma) and that you aren’t supplying your credit card information for the service. Credible credit reporting websites will help provide you regular credit score updates, as well as provide guidance on potential purchases based on your score.
  • Applications: Applying for a new credit card, car loan, or refinancing? As part of the approval process, the lender will be surely checking your credit score to make sure you qualify. Take advantage of this situation to learn what your credit score is.
  We should note that you can buy your credit score. However, you should only ever consider doing so when you’ve either exhausted the options that we’ve listed above or if none of the aforementioned complimentary means of acquisition are viable.

Posted By : Buyer Tips, Credit Repair, Credit Scoring Model, Hot Credit & Financial news

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Recent Blog Posts:

experian

Experian Fined by CFPB Months After TransUnion, Equifax Dinged for Similar Acts

April 12th, 2017
False advertising is defined as misleading consumers or potential consumers with incorrect or unproveninformation. You might say that Experian, one of Read More »
consumerfinancial2

Tax Liens, Judgments Could Be Omitted from Credit Reports in Near Future

April 12th, 2017
The Consumer Financial Protection Bureau (CFPB) has been winning a lot of battles for the people lately. Aside from socking Equifax and TransUnion wit Read More »
forclosure2

How to Build Your Credit Score After Foreclosure or Short Sale

April 12th, 2017
So you've foreclosed on a home or had to sell for less than what you owed on the home? You probably think you're doomed as a consumer moving forward. Read More »
preapproved_ mortgage_loan2

Getting preapproved for a mortgage loan

April 12th, 2017
Spring has sprung, and beyond just the greening of grass, warming temperatures and longer days, it's also a period of the year that sees a significant Read More »

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