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Negative information in credit reports can affect a consumer’s life. Lower credit ratings and overall creditworthiness affects your ability to secure housing, loans, and even employment opportunities. Incorrect negative information in a credit report can be especially frustrating. However, with sufficient evidence, credit reporting agencies are required to correct any inaccurate or false information. In […]
Category: Credit Report Errors
Is Buy Now, Pay Later Risky for Consumers?
Buy Now, Pay Later (BNPL) services allow consumers to purchase and receive goods immediately while paying for them over time with installments, typically six to eight weeks. The industry saw an explosion of growth during the coronavirus pandemic when many people’s incomes saw a significant drop and state lockdowns necessitated purchasing online. While some BNPL […]
How Can You Avoid Student Loan Fraud?
Student loan debt can be overwhelming, particularly for those pursuing multiple or advanced degrees requiring additional years of education. Students pursuing certain degrees, such as the medical field, can incur a decade or more years of loans to complete their chosen programs. Loans that can take up to 20 or more years to pay off. […]
What Are Common Credit Report Errors?
Credit reports are invaluable and help determine an applicant’s character and creditworthiness. The information contained in the report allows you to secure loans, housing, employment, lines of credit, and insurance coverage. Credit reporting agencies gather and compile financial information on more than 200 million people monthly. They sell the reports to employment agencies and businesses […]
Can I Be Denied Housing for Tenant Screening Report Errors?
Utilizing background checks and credit reports to determine one’s character and financial trustworthiness is standard practice when applying for jobs, loans, insurance, etc. Applying to rent a house or apartment is no exception. Landlords can request tenant screening reports to review a simplified summary of a prospective renter’s rental history. These reports provide a quick […]
Why Medical Debt May No Longer Affect Your Credit Report
Beginning this summer, much of your medical debt could be removed from your credit report. In March 2022, the three biggest credit reporting agencies, Equifax, Experian, and TransUnion, announced changes to how they report medical debt which will amount to removing nearly 70 percent of medical debt in collections. The Consumer Financial Protection Bureau (CFPB) […]