Posts Tagged ‘credit reports’
Benefits of Checking your Free Credit Score & Report
Posted by: admin in Credit Quick Tips on March 24th, 2009
If you’ve been hearing about free credit report and free credit score offers, you’re probably wondering what the big deal is. Unless you don’t have a problem with paying high interest rates and fees to lenders, you should consider getting some background information about your credit. Consider this, the range of your credit score can affect how much you will pay for your monthly mortgage payment, for example:
If you have a good credit score:
Mortgage Loan Amount: $250,000
Interest Rate: 6.75%
30 Yr Fixed Rate Payment: $1,621
Total After Finance Charges: $333,734
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The Value of a Sparkling Credit Report
Posted by: admin in Free Credit Reports on March 14th, 2009
Prior to meeting with a lender to request a loan, sign up for a new cell phone service, purchase a car/home, or interview for a job, you should definitely check your credit history. The information on your credit report may influence whether or not you get the loan, cell phone, car/home, or job.
- What Information Shows Up On Your Credit Report?
Your credit report contains information regarding your financial behavior and past/present credit balances. It provides information like when a credit account was opened, the limit or loan amount, monthly payment amounts, and current balance. It will also show whether or not you’ve made payments on time. The report also contains information about bankruptcy, child support, and taxes. This type of information can remain on your credit report for seven years or more.
- What to Do if You Find Errors
If you find that your credit report is inaccurate, investigate immediately. The problem could be a simple error or something very serious like identity theft. The faster you correct the issue, the better. To correct credit errors, first notify the agency you have a dispute with and present them with the information you have to support your finding. Then you wait to see what happens and do what they tell you to do.
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Does Debt Settlement Affect My Credit Score?
Posted by: admin in Free Credit Reports on February 13th, 2009
In the recent economic recession, there has been an uprising of offers to file for bankruptcy and to reduce your debt. These offers sound like solutions to all of your problems, right? Well good news is, is that for the majority of people who stick to the program, these options do work. The only question about these programs, however, is whether or not they negatively affect your credit score.
Look at it like this, anything short of paying cold hard cash upfront to settle your debt, is going to smack your credit score down a couple notches. This doesn’t mean that you’re better off sticking with what your doing now, but it’s more of a reality check that while you may be settling your debt, in the long run you should have paid your dues on time.
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