Why Credit Scores Are Different

Yes, there are MANY different credit scores out there. There are credit scores consumers can pull themselves through credit monitoring, mortgage scores, auto scores, and many more. There are actually over 16 different credit "scorecards" that exist today. Each of these scorecards will reflect different credit scores. These scorecards ..

Why are loan originators the best course of referrals?

Why are loan originators the best course of referrals? It’s because they are able to increase their loans and convert their turn downs by sending them to you to handle their credit repair. It is their responsibility to make sure they are sending their clients to a trusted source, and from a business point of view, depending  ..

Who is the #1 source of referrals for credit repair companies?

The number one source for referral partners are Loan Originators. Loan Originators are professionals that have clients that needs to meet a certain credit criteria, so they can sell their product or provide their service. Mortgage brokers, loan officers, realtors, car dealerships … anywhere a consumer goes and applies ..

What’s NOT Counted in a Credit Score

Federal laws including the Equal Credit Opportunity Act and Consumer Credit Protection Act prohibit certain things from being factored into credit scores. Such things include: Race, color, religion, national origin, sex and marital status. US law prohibits credit scoring from considering these facts, as well as any receipt of public assis ..

What you will see in a credit report

Here is a list of what you will see on a credit report: Accounts/Trade lines: This includes credit cards, auto loans, mortgages, real estate, installment loans and revolving debt like department store cards. The report will include information on the accounts such as the balance, payment history, terms, and account status - such as wheth ..

What to Dispute

When asked, “What should I dispute” – the answer is simple. The Credit reporting agencies and data furnishers have a legal obligation to abide by three important standards. Everything that is on a report MUST BE: Within Date- Every item that is reporting must be within the allowable reporting period (Typically 7 years fo ..

What is the statute of limitations (SOL)?

A lot of people get the statute of limitations confused with the FCRA credit reporting time. While they’re both time limits related to debt, they have different effects. The statute of limitations for collecting a debt is the period of time that a creditor or collector can obtain a judgment through the court system to force a p ..

What is Rapid Rescoring?

Rapid rescoring originated in the mortgage industry because they were losing so many clients due to credit problems. Rapid rescoring is not offered by the big three credit bureaus Equifax, Experian and TransUnion. Instead, it is offered by the smaller credit resellers that serve as middleman between the bureaus and lenders. Rapid resc ..

What Do Consumers REALLY Know About Their Credit

In May of 2007, Washington Mutual, along with a government agency, conducted a study on consumer awareness of the credit scoring system. They wanted to find out, "What do consumers know about the credit score." "What do they know about how to affect their credit?" The results of the study are astonishing: 65% understood th ..

VERY Interesting Stats

A study of credit scores for mortgage applicants by the Consumer Federation of America and the National Credit Reporting Association found that one in ten files (155 out of 1,545) contained at least one, and as many as three, additional repository consumer reports. The same study also found that it was very common for the additional r ..

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