Posts Tagged ‘credit report’

Free Credit Reports: What You Need To Know

The CARD Act, the new law regulating credit card companies also sets forth  a new regulation  regarding companies that use free credit reports to entice people to enroll in paid services such as ordering credit scores, credit score monitoring, and identity theft protection services.

Basically, the new rule is this: anyone who provides free credit reports must let people know that they can obtain their government mandated annual credit report (three reports in total, one from each Credit Bureau) from AnnualCreditReport.com. This website has been established as the centralized location to allow people to obtain their credit reports for free.

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What Is A Good FICO Credit Score In 2010?

Your FICO score is one of the factors that lenders use to determine whether or not they will approve you for a credit card, auto loan or mortgage. Your credit score is also a factor in the amount of interest you will have to pay if you are offered a loan or credit. The higher your credit score is, the easier it is for you to qualify for credit cards and loans and the better terms you will get. FICO scores range from 300 to 850. Naturally, you might wonder what is a good FICO credit score?

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Understanding Your Credit Report Score

credit-score-1 Understanding your credit report score can sometimes be like trying to decipher ancient Egyptian hieroglyphics. Until recently, the score itself and the methods for calculating it were a complete secret.

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Can Unsecured Creditors Garnish Wages?

checkbook Unsecured creditors can only garnish your wages if they have been able get a judgment against you in court. That means they will have had to have sued you over your debt and won.

Many unscrupulous collection agencies will try to threaten people with wage garnishment, as if that can happen right away when in fact it cannot. This tactic is not only unscrupulous, it is illegal. The Fair Debt Collection Act, a Federal law, prohibits collection agencies from threatening people with actions that they cannot legally take. 

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Credit Bureaus Now Estimating Income

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You know that the three credit bureaus, Equifax, TransUnion, and Experian collect information about your credit history, be it good or bad.  Well, now they will also be estimating your income based on that credit history, which they will be providing to the credit card companies.

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