Credit Check Facts

What is “making work pay credit?”?

Credit Facts Admin — Thu, 02 Sep 2010 19:23:14 +0000

Question by Russell: What is “making work pay credit?”?
I am using turbotax free federal efile to do my girlfriends taxes. I am using form 1040ez. If you look at line 8 it asks you about a “making work pay credit.” What is this and how do I know if my girlfriend qualifies for it?

Best answer:

Answer by the tax lady
Not a dependent.
Made to ,000 (phase out up to ,000).

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Experian won’t give me a credit score, but they gave me a “vantage score”?

Credit Facts Admin — Wed, 01 Sep 2010 20:05:12 +0000

Question by Diane S: Experian won’t give me a credit score, but they gave me a “vantage score”?
So why do I have 3 different scores? I went to freecreditreport.com and they have my scores SO low, but yet my bank gave me my REAL Fico scores and they were pretty decent for my poor history. Experian is higher on that site than my lowest one, and would be my “mid-low” score, which is what my bank needs, yet Experian is saying that I have no score! THEN they gave me my “score” that they had for me? Which is completely worthless. So I asked my banker about it and she said that my creditors aren’t reporting. So to me, that means I should have GOOD CREDIT, whereas it reality it means that I have NO credit. Makes NO SENSE!?
Well I checked out that myfico.com and Experian is the ONE score I do need. I know they said I have “no credit” but yet I have 2 open accounts (I know, negative for scoring but still shows SOMETHING) and then two or three other closed accounts. Still just need EXPERIAN. The bank needs all 3 in order to approve me! But keep answering please.

Best answer:

Answer by My Take on It
For your true score, you need to go to http://www.myfico.com. It will cost you under to get the scores that lenders use.
Be sure to cancel whatever subscription you signed up for on freecreditreport dot com. They enrolled you in a credit monitoring service that will be charged to your credit card or bank account every month. They also will charge you if you do not cancel in 3 or 7 days I believe.

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Q&A: Credit score confusion?

Credit Facts Admin — Tue, 31 Aug 2010 21:02:04 +0000

Question by Ronny: Credit score confusion?
I want to know how many types of credit scores are available in US and by the term “FICO score” which score do we really refer to.

Thanks

Best answer:

Answer by Go Blue!
It’s FICA with an A. That’s the main one. There are numerous credit companies that all use it. They are Equifax, Experion, and TransUnion (I’m not sure about the last one’s name.) A new law passed in January, and they have to give you your credit record and score for free. Check with all three to see that they match.

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What does “Sales on Credit” mean for a Business plan?

Credit Facts Admin — Mon, 30 Aug 2010 22:04:39 +0000

Question by Project EX: What does “Sales on Credit” mean for a Business plan?
Hello, i am writting a business plan for my new computer company. One of the key problems i’m having is not being able to talk to anybody who really knows a lot about the subject.

So i have 2 questions:

1. What does “Sales on Credit (%)” mean?
2. What does Less 25% tax mean?

For the question two for example, in another business plan it says 3,843 in projected sales, then the Less 25% tax is only ,846.

Can anybody explain both of these? I’d truly apperiate it.

Best answer:

Answer by CanadianBlondie
I can think of a couple of things that it might mean, but without seeing the whole problem, I’m just guessing.

1Sales on credit could be:
a) A % of all sales that end up as accounts receivable (they didn’t pay you up front, and you extended them credit) – most likely answer
b) The % you have to pay to the credit card company for taking credit cards

2. Less 25% tax…well, 11,846 is 25% of the figure you quoted as your sales figure; it would appear that you are subtracting the tax amount before ending up with a net income amount.

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How will one “no credit” class effect my gpa?

Credit Facts Admin — Sun, 29 Aug 2010 23:10:59 +0000

Question by ginsu_cat: How will one “no credit” class effect my gpa?
I signed up for a credit/no credit university class at the beginning of the semester and now it looks like I won’t be able to get out of work on the day of the class and it’s too late to drop. How will this ‘no credit” effect my 3.54 gpa?

Best answer:

Answer by zianneaaliyah
If it’s a non-credit course then it won’t effect your gpa, but if it’s a requirement. Then it might cause problems for you later on when it’s time to graduate. So check if it’s a graduation requirement.

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which seems best; bankrupcty or debt solution? (debt solution i pay $60/mo)?

Credit Facts Admin — Sun, 29 Aug 2010 00:15:53 +0000

Question by jimmeeb: which seems best; bankrupcty or debt solution? (debt solution i pay /mo)?
i know bankrupcty wipes the slate clean, but then takes 7-10 yrs to fix. debt solutions wants /mo, but will “repair” my credit over several months. is it really worth this?

Best answer:

Answer by Cate
Sure it’s worth it. You are paying for things that you have received. From a morale standpoint, it’s the best option.

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I’ve been scammed by local company…what can I do?

Credit Facts Admin — Sat, 28 Aug 2010 01:02:36 +0000

Question by Valerie M: I’ve been scammed by local company…what can I do?
A local “credit repair” company scammed us and forged our signatures. Now someone else has a mortgage on our house in their name (we also have one). I’ve contacted sheriff, and filed police report. Haven’t even heard from the detective as promised. Meanwhile I’m out over ,000 and they’re still in business!! HELP PLEASE

Best answer:

Answer by Galileo
You need to get yourself a lawyer very quick and have all the documents in order and handy, you need to fight this scam, it might take time but you can prevail, good luck and take care.

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What is an Equifax Risk Score?

Credit Facts Admin — Fri, 27 Aug 2010 02:11:32 +0000

Question by Valerie: What is an Equifax Risk Score?
My bf just ordered his annualcreditreport and score and it gave him 727 but in fine print it says “this is your “equifax risk score” not your FICO score”. What is this and how does it relate to his actual score?

Best answer:

Answer by lnsy06
A FICO score is all 3 credit bureau’s risk score averaged.

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Q&A: I would need a name for my new business.?

Credit Facts Admin — Thu, 26 Aug 2010 03:00:03 +0000

Question by chaotickitttie: I would need a name for my new business.?
I will be doing credit repair. I would need it to have “credit repair” in the name… I would also love to have it where the initials will be “RCC” … if not rcc.. Then a really catchy name…

Best answer:

Answer by sweet7face
Repair Credit Consultants RCC

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AC is not working the same after “repair.”?

Credit Facts Admin — Wed, 25 Aug 2010 04:01:03 +0000

Question by skyblueyou: AC is not working the same after “repair.”?
I had a clown put in a new kompressor in my AC wall unit. It’s clearly not as cool as it used to be. He “could not read the part number” after he put it in. This makes me wonder…..
Should I demand they come back here and get the exact kompressor for this wall unit? I feel I am being ripped off. I’m going to put a hold on my credit card until I’m satisfied.

Best answer:

Answer by Greg M
Why you paid to have a compressor replaced in a window banger is beyond me. It’s cheaper to buy a brand new, better efficency unit.

On to your question, you paid for something and it should work correctly when the job is done. I would call them back and give them a chance to correct the problem.

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