Credit Reporting
Credit Repair Scams: Avoid Bigger Problems Down The Road
Everyone wants to improve their credit score. But when trying to clean up your credit history, traps abound. According to a recent story on CNN.com, the Better Business Bureau is warning that some companies are using the credit crunch to take advantage of consumers who want to clean up their credit. Complaints [...]
Putting A Security Freeze On Your Credit Reports
A Security Freeze prevents someone from obtaining credit in your name, thereby preventing identity theft. There is no charge for a New York State resident to place a Security Freeze on their credit report if you are the victim of Identity Theft or you are making this request for the first time. For second [...]
Getting a Free Copy of Your Credit Report
The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months.
To order your free annual credit report you can go to www.annualcreditreport.com, call 1-877-322-8228, or complete the Annual [...]
Credit Industry Trade Group Issues Guidelines For Reporting Debts
In an informational letter addressing data furnisher responsibilities for third-party collection agencies and debt purchasers, the Consumer Data Industry Association on October 8, 2007 reinforced its recommendation for all data furnishers to convert to the Metro 2 Format.
The Consumer Data Industry Association (CDIA) released an informational letter this month addressing data furnisher responsibilities for third-party [...]
Adverse Action Notices Are Required From Third Parties Under the Fair Credit Reporting Act
The recent case of Whitfield v Radian Guaranty, No. 05-5017 (3d Cir. Aug. 30, 2007) dealt with the Fair Credit Reporting Act’s requirement that consumers be provided with an “adverse action” letter whenever they are denied for credit. The Whitfield case, however, brought a twist to the issue.
The Whitfields financed a home purchase through [...]
