Tag Archives: economy

What Really Happens Inside Credit Repair


There is a big misunderstanding about credit repair.  Most consumers feel that if they remove the bad credit from their credit report that their credit scores will greatly improve.  This is not always true!  There is also a belief that … Continue reading

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Debt collection and debt collectors; what to do


As the economy soured so did the credit bubble and the business of collecting bad debts mushroomed.  When a loan goes south, the lender will often sell the debt to a third party collection agency.  On average the debt collector … Continue reading

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Credit Check Errors Go Unchecked!


Americans are virtually powerless to correct damaging mistakes in their credit reports because of loopholes and obstacles in the federal law governing credit-reporting agencies, an Ohio newspaper reported. The lack of government regulation allows errors that wrongly deny thousands of … Continue reading

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New Ruling Makes It Easier To Get an FHA Loan For Some


A new rule prohibiting homebuyers from getting a Federal Housing Administration mortgage if they owe more than $1,000 in outstanding collections accounts could cut demand by up to 20%, according to banking analysts. The rule went into effect April 1. … Continue reading

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Fired For Her Credit Score!


Fired for having student loans? Latoya Horton says she was fired from her job as an accountant, not because she did anything wrong, but because her employer checked her credit report and decided her debt-to-credit ratio was too high. Latoya … Continue reading

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Can You Be Taxed For Forgiven Debt?


If you’ve received a surprise 1099-C tax form in the mail, you may be wondering if it’s taxable income for you. I want to explain. The 1099-Cs popping up in people’s mailboxes are really fallout from the financial crisis over … Continue reading

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Can Personality Influence Your Credit Score?


A recent study out of Stanford University and Columbia University states that it is possible to predict someone’s credit rating by how patient or impatient they are.  (The Journal of the Association for Psychological Science) Having a good credit score … Continue reading

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