Dave Ramsey Tip On Credit Repair

Dave Ramsey is one of our favorite financial minds here, and we enjoy sharing some of his tips from time to time. In this video Dave has an interesting take on what he recommends for credit repair.

Senate Holds Hearings On Credit Bureau Negligence

On Wednesday, December 19, 2012 the Senate Committee on Banking, Housing and Urban Affairs held a hearing titled “Making Sense Of Consumer Credit Reports” to determine the state consumer credit reports and the credit bureaus.

Consumer Financial Protection Bureau issues first report on credit bureaus

The Consumer Financial Protection Bureau (CFPB) released its first report on the major credit bureaus since it expanded its jurisdictional reach in July.  The major credit bureaus are Equifax, TranUnion and Experian. As expected, your credit report history is comprised mainly of credit card history and debt collection items generate the highest rate of credit […]

Does Using A Charge Card Help Your Credit Score?

Here’s an interesting take on the question of whether or not using a charge card will help you improve your credit score. Remember there is a difference between a charge card, like an American Express, and a credit card like a Visa.  

Why Short Sales Tank Your Credit

It’s rough out there, housing prices are continuing to drop, and that beautiful 3 bedroom you bought in 2006 with an interest only loan is now worth half of what you bought it for. And even though it’s currently worth a heck of a lot less than what you paid, you’re still on the hook […]

49 Credit Scores and Counting – Enough Already FICO!!!

We’ve been telling our clients for years, the credit score you see when you buy your credit reports and scores, is NOT the credit score the lender sees.  In fact, it is more of a guideline to help you know if you are even within the game, rather than a determining factor in whether or […]

Repossession or Bankruptcy, What’s The Better Option?

Behind on your car payments? Should you have them reposess the vehicle or file for bankruptcy. Here’s how to tell.

How Is Your FICO Credit Score Calculated?

Here’s a handy little chart we put together to help you understand what information affects your credit score. Improving the information in any of these categories will have a significant effect on your score. In general your credit score is made up of your payment history in addition to other factors.  (If you don’t know […]

FICO Reveals Their Secrets? Yeah Right!

Fair Isaac & Co. the provider of the most widely used credit score, the FICO score, is trying once again to spin to the consumer why their secretive, often misleading and erroneous credit score model is the best thing since sliced bread. In a recent article on Yahoo, the CEO tries to give consumers some […]

Warning! Closing your credit cards can damage your credit score.

This is one of those questions that we as credit repair professionals are asked all the time, "will closing my paid-off credit card improve my credit?". The short answer is no!  As counter-intuitive as this may seem, it is true. Your credit score is based on a complex mathematical formula that takes into account numerous […]