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Posts with tag CreditReport

15 ways to ruin your financial future: Ignore credit disputes

by Beth Pinsker Sep 29th 2008 at 3:00PM

Filed under: Debt

You hear advice all the time about your credit score -- that you should check it often, what you can to boost it and how to resolve disputes. The advice is very practical and logical and easy to follow in theory. In practice, however, most people just ignore all of it.

I was one of these people until I had to face the consequences of my inaction, and that apathy remains one of my biggest financial mistakes.

I've actually done a lot of the other bad things people say not to do (I cashed out some IRA funds to buy a first home, I married a man who had credit card debt, I have not saved enough for retirement, I went to an expensive school, and so on), but so far, not resolving a credit dispute is the only one that has come back to bite me in the you-know-what.

Don't miss the rest of our series on 15 Ways to Ruin Your Financial Future!


I think my story is pretty typical of what happens along the way for most people. I moved a long while back and charged the move to my credit card, then forgot all about it. Two years after the move, I got a letter from a collection agency saying that the moving company had never actually received the payment and wanted its money -- about $1,200.


Tags: collections, credit, credit report, CreditReport

Continue reading 15 ways to ruin your financial future: Ignore credit disputes

Ask the Dolans: How can I clean up my credit report?

by Ken and Daria Dolan Sep 5th 2008 at 3:00PM

Filed under: Banks, Cards, Debt, Saving, The Dolans

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Click here to ask Ken and Daria your question.

We have always recommended that you check your credit report annually and be on the lookout for bad marks that could drag your credit score down. If you do find negative reports, don't freak out and don't get scammed by those credit companies offering a quick fix either.

Here's the right way to remove any blemishes from your report and keep it that way for years to come.

Dear Ken and Daria,

I have several negative marks on my credit report, but I am working hard to raise my score. What can I do to remove those bad marks?

-Matthew

Did you check your annual credit report and not like what you found? Ken and Daria show you how simple steps can effectively raise your credit score on Dolans.com.



Tags: credit, credit report, CreditReport, daria dolan, DariaDolan, ken and daria dolan, KenAndDariaDolan

Little-known things that hurt your credit score

by Ken and Daria Dolan May 28th 2008 at 3:10PM

Filed under: Debt, The Dolans

credit score reportWe don't mean to get too personal, but what's your score? We're talking about your credit score, of course. A few years back, no one knew their credit score. Today, people brag (or complain) about it at cocktail parties and compare scores over the water cooler at work!

That's because knowing your credit score can have a huge impact on your wallet. Being a 640 versus a 690 means paying 12.2 percent versus 9.5 percent on your next loan, and that adds up to thousands of dollars in extra interest!

So, you already know that the higher your score the better. And you probably know the basics for keeping your score high-pay your bills on time, don't carry too much credit card debt, etc.. But you might be surprised at some little known factors that can do some serious damage to your score.

In a world where one delinquent payment-just one-can drop your score 100 points, let's look at eight credit score "no-no's" that pack a real wallop:



Tags: credit, credit cards, credit report, credit reporting, CreditReport, ken and daria dolan, ken and daria dolans, KenAndDariaDolan, KenAndDariaDolans, kendolan, mortgage applications, the dolans, TheDolans

Continue reading Little-known things that hurt your credit score

Checking your credit for free

by Tracy Coenen Apr 25th 2008 at 7:00PM

Filed under: Debt

Finance experts will tell you that it's important to keep a close eye on your credit record, for a number of reasons. First of all, a good credit history is the key that opens many doors for you. Not only does it mean you'll have a better chance of buying a house and getting a good rate on a loan, it also has other implications.

Your credit history determines whether you're eligible for a credit card, what your interest rate will be, and whether you qualify for any special promotions. Some employers will do a credit check before hiring you, so that's another place a good credit record comes in handy.

Insurance companies check your credit and factor that in when determining your rates. Better credit means better insurance rates. It's also important to keep an eye on your credit record to make sure no one has stolen your identity and that no credit card company has made a mistake in reporting your activity to the credit reporting agencies.

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Tags: credit report, credit score, CreditReport, CreditScore

Continue reading Checking your credit for free

Another use for your credit report: Hospital bills

by Tracy Coenen Mar 21st 2008 at 2:00PM

Filed under: Health

Consumer advocacy groups are crying foul as more and more hospitals are using our credit reports to decide whether or not they want to do business with us. They are added to the growing list of users of our credit reports, including banks, credit card companies, telephone and utility companies, and insurance companies.

At first, it might seem unfair for hospitals to look at your credit history before treating you. After all, sometimes there are emergencies, right? Well the hospitals aren't using credit reports in emergency situations. They're using it in connection with planned procedures and hospital stays, and they say it's necessary because they need patients to pay for the cost of their care. They're also using it to check credit after treatment to see how likely it is that they'll be able to collect your unpaid balance.

Hospitals are businesses, aren't they? And they do deserve to be compensated for their services, don't they? I really don't blame hospitals for choosing to work with those who are more likely to pay their bills. There are too many people skipping out on their healthcare bills, and it's not because they can't pay for their care. It's because many of them choose not to pay, even a small amount each month.

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Tags: credit report, CreditReport, hospital bill, HospitalBill, medical bill, MedicalBill

Continue reading Another use for your credit report: Hospital bills

Your credit history doesn't divorce when you do

by Tracy Coenen Feb 21st 2008 at 3:40PM

Filed under: Debt, Relationships

Are you thrilled to be rid of your lying, cheating, good-for-nothing spouse? Well don't throw a party just yet. You may be divorced from the world's worst husband or wife, but that doesn't mean your togetherness is over.

Did you know that after you divorce, you still may be tied to your ex for many years by way of your credit report? That's right.... Your credit history doesn't divorce your spouse, even when you do.

The problems start when the spouses agree that one will continue to pay a debt for which both are legally bound. Sometimes the husband takes the truck and agrees to make the payments, but the debt is in the names of both the husband and the wife. He decides to stop paying but is still driving around in the truck. What happens?

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Tags: credit report, CreditReport, divorce, featured

Continue reading Your credit history doesn't divorce when you do

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