Credit Law Network

Consumer Credit Likely to Tighten

The Wall Street Journal reports that credit card companies are likely to restrict access to unsecured credit as a result of increasing delinquency rates and the general downturn in the economy. Currently unused credit card availability exceeds $4 trillion, and banks are concerned that cash strapped consumers will turn to ...

Understanding Credit Scores - Improving Credit Scores

What can consumers do to improve credit scores?* Credit scoring models are complex and often vary among creditors and for different types of credit. Only the creditor can explain what might improve a score under the particular model used to evaluate a credit application. Scoring models generally evaluate the following types of ...

Medical Identity Theft a Growing Problem

By now, almost everyone has heard about "identity theft," when a crook gets hold of your Social Security number and other personal information, then uses that information to obtain credit that will eventually result in unpaid bills in your name. More recently, a new form of identity theft is becoming ...

How Long Can an Item be Reported on My Credit Report?

Generally, the reporting periods are as follows: Bankruptcy - Ten years beginning from the date of entry for the order for relief (the filing) or date of adjudication under the Bankruptcy Code. Lawsuits & Judgments - Seven years from the date of entry or until the governing statute of limitations has expired, ...

Frivolous Credit Report Disputes

The Fair Credit Reporting Act allows a credit reporting agency to refuse to delete or investigate disputed information if the credit reporting agency can reasonably determine that a dispute is frivolous. The Federal Trade Commission requires credit reporting agencies to assume that a consumer's dispute is authentic unless there is ...

Common Reasons for Mixed Credit Report Files

A mixed credit report file occurs when reported information incorrectly lands in your credit file. Information is reported to a credit reporting agency. The reported information goes through a matching process. Mixed reporting happens when the credit reporting agency places another person's information in your credit file based upon partially ...

Dun And Bradstreet: The Business Credit Reporting Agency

In his recent article, "Specialized Nationwide Credit Reporting Agencies: MIB Group", Pittsburgh Consumer Lawyer, Stephen Otto discusses MIB, a lesser well known Credit Reporting Agency (CRA) than the big three, but just as important. Any CRA that has information (or misinformation) about you is important, since the information that they have can affect ...

Specialized Nationwide Credit Reporting Agencies: TeleCheck

Most people are familiar with the "Big Three" credit reporting agencies. Did you know that there are also specialized nationwide credit reporting agencies? These specialized nationwide credit reporting agencies are subject to the same free disclosure requirement as the "Big Three." This post will discuss one of those agencies--TeleCheck. TeleCheck is ...

Specialized Nationwide Credit Reporting Agencies: MIB Group

Specialized Nationwide Credit Reporting Agencies: ChoicePoint