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Tag Archives: credit bureaus

Scoring Models – How Banks Approve or Decline Your Loan

Though a scoring model isn’t made of oil or water colors, it does paint a pretty clear picture of your financial state of affairs. Once your information has been entered into the application and sent to the centralized loan approval centers it will pass through a risk filter. This filter measures the likelihood the lender […]

10 Tips To Avoid Identity Theft

There is a lot said regarding credit agencies on the television, the radio, and anywhere else where there is advertising, because there is a big business in providing people information about their credit scores. If you don’t understand this already there are three major credit scoring agencies – Equifax, Experian, and TransUnion. And today I […]

Understanding Credit Hits With The Credit Bureaus

There is a slang credit bureau report expression known as a “hit”, which refers to the action that occurs when a copy of your credit Bureau report is requested by a computer. Many people believe (and some not so smart so-called experts) that no one will know where or how many times they have applied […]

Your Spouse, Your Credit Cards, Your Debt, and You

There will come a time when you apply for a loan and your spouse’s credit bureau report will also be reviewed. The benefit of two incomes also carries with it the prior repayment history of each applicant. Challenge your individual rights to privacy based on marital status, sexual orientation, religion, and other personal information. Question […]

Should I Declare Bankruptcy?

A last resort is bankruptcy, and you should never take the step without adequate legal advice before hand. The reason is that under the Fair Credit Reporting Act (FCRA) a bankruptcy will stay on your credit record for up to 10 years. (All other negative information will stay on your record for up to seven […]