What makes up your FICO score and how is it calculated? A FICO score is a 3 digit code measured by pulling data from all three credit reports, Experian, Transunion, and Equifax, it is then used to determine your credit risk to lenders. The information pulled is put in to a FICO Score Formula, as a result this Score may raise or lower depending on the type of information being reported on your credit reports.
Are Debt Collectors or Debt Buyers Calling you? – Credit Law Center
Do you immediately send an unknown call to voice mail, knowing it is just another abusive debt collector? Debt collectors and debt buyers spend lots of time and money going to seminars and workshops to stay up to date on all the rules and regulations. Collectors of Debt are required to follow the strict guidelines, which are set in place by Fair Debt Collection Practices Act, (FDCPA). Unfortunately, for a consumer a debt collector may use unlawful tactics to gain a larger profit. Often times voice mail messages left by collectors are violating the FDCPA.
Are free credit scores a waste of your time?
Last week, 2 of the big 3 credit bureaus were ordered to pay $23 million for deceiving customers. The CFPB accused the credit bureaus of misleading marketing of false information of credit scores and products being sold to the public. According to the regulator, “TransUnion and Equifax falsely represented that the credit scores they marketed and provided to consumers were the same scores lenders typically use to make credit decisions. When in reality the lenders do not use the credit scores provided at all. So you can imagine the frustration of going to get a loan, when your score is different from the one the lender is using.
2 of the big 3 credit bureaus busted for deceptive marketing – Credit Law Center
The Consumer Financial Protection Bureau bust 2 out of the 3 major credit reporting bureaus due to the marketing of their over-priced, under-performing credit monitoring subscription products. Combined fines and consumer restitution total $23 million. CFPB will more than likely also bring a case against the remaining bureau, Experian. Experian doesn’t prevent identity theft, nor do they always accurately disclose your credit score.
Merry Christmas and Happy New Year from Credit Law Center
Tis the season of giving and celebrating life. Credit Law Center would like to take a moment and thank all previous and current clients, referral partners, and employees for making Credit Law Center what it is today and giving us an opportunity to help you. At Credit Law Center we take pride in changing peoples lives, by helping clients repair their credit to get them automotive or mortgage ready.
Self Credit Repair – Credit Law Center
What is self credit repair? Sounds like a silly question but this industry can be confusing to consumers. The credit reporting agencies only want self credit repair because
When considering self credit asks yourself a couple of questions; do you change your own oil? Do you do your own taxes? If the transmission went out on your vehicle would you repair it yourself? I am not listing these questions out to talk you out of self credit repair, but merely to point out that there are several things you could do yourself but choose not to. If you were to do some of the things mentioned above you, would probably Google it or find some directions on how to. Because we know there are some people that want to repair their credit on their own, so we have listed out our instructions and process right here at Credit Law Center.
What Bad Credit Really Cost You – Credit Law Center
In today’s economy a good credit score is a must. Some consumers don’t realize how much of an impact a bad credit is score can have on their financial picture. Did you realize that a low credit score can impact how much you pay for insurance, the amount of interest you will pay for cars, the interest rate on a mortgage or whether you get that promotion at work?
Giving thanks on Thanksgiving – Credit Law Center
Tis the season to give thanks. Credit Law Center would like to thank every client that believed in us, to help them with getting back on track. Whether it be stopping debt collectors from harassing you, improving your credit score to buy a house or automobile, or simply monitoring your credit to assure you are protected. Credit Law Center is thankful for the opportunity to serve you. There are many credit repair companies nationwide, but you chose to go with Credit Law Center. Credit Law Center takes pride in our “you don’t pay until it goes away” model. Unlike most credit repair companies we take pride in not charging our clients a monthly fee, because we look at our clients than as a more than just a opportunity. Credit Law Center gets their clients on their way in days, not months. While other credit companies milk their clients for money for months, before any results are completed.
Credit Score After A Chapter 13 Bankruptcy
How do I improve my credit score after a chapter 13 bankruptcy?
After you have completed all of your obligations for a Chapter 13 Bankruptcy and it is now time to move on and one of the first questions you many want answered is what do I do to improve my credit score after a chapter 13 bankruptcy. Getting your ideal credit score after a chapter 13 bankruptcy can seem like an impossible, very large, up hill battle that could feel like you may never accomplish. The reality of the situation is that you can rebuild your credit score after a chapter 13 bankruptcy and if you are focused and diligent you could accomplish this relatively quickly.