Mindy Leisure Director of Rescoring Services Starting this month consumers with student loans can start applying for the Student Loan Forgiveness Program. This program is for federally held student loans only and does not include private student loans. Individuals who make less than $125,000 and married couples making under $250,000 are eligible for up to $10,000 in forgiveness. If the individual … Read more
One of the more frustrating aspects regarding credit reports is finding what one believes to be duplicate accounts. If the same account is reporting to all three bureaus (Equifax, Experian, Trans Union) more than once then that can mean the credit scores are taking a double hit. If the account in question is derogatory in … Read more
A “Rescore” is updating information on a credit report at the bureau level in an expedited manner. It is not credit repair, and it is not something the borrower can do on their own. The changes made through a rescore would eventually organically update at the bureau level but that can take 30+ days or … Read more
With the stimulus checks that have circulated in the last few years and people staying home more because of the Pandemic, credit card debt shrunk drastically. People were able to pay balances down and even save some money. Unfortunately, it seems that with inflation at the level it is, credit card debt is now at … Read more
Trigger Leads are something that seems to be more prevalent and worrisome over the last few years. It would be common for Advantage Credit to get calls and/or emails once or twice a month regarding this practice but lately it has been several times a week. So, what is a mortgage trigger lead? When a … Read more
As the result of a report issued at the beginning of March 2022 by the Consumer Financial Protection Bureau (CFPB), starting in July 2022 there will be some major changes to credit reports. These changes will impact approximately 20% of consumers in a very positive way. Beginning July 1, 2022, all paid medical collections will … Read more
Experian Boost™ and UltraFICO™ are two products offered by Experian® to help boost a borrower’s credit score. Please be aware that these products are only available with Experian so utilizing them will have no impact on a consumer’s TransUnion® or Equifax® scores. Experian Boost allows a consumer to add payment history from accounts that do … Read more
Inaccuracies on credit reports are an ongoing problem and a source of great frustration for consumers. Many of the inaccuracies are accounts those consumers believe belong to another person, or that they may have been a victim of identity theft. A lot of consumers feel they don’t have the time or fortitude to address the … Read more
We all know credit reports can be confusing at times to say the least. Some aspects of the data on credit reports just seem to make no sense, but some parts can be more confusing than others. To start off 2022, let us touch on some of the biggest issues asked about in 2021. 1. … Read more
Due to an advisory opinion recently released by the Consumer Financial Protection Bureau (CFPB), all consumer reporting agencies must cease in providing any information on a credit report that is based only on a consumer’s first and last name and excludes any other personally identifiable information (PII) such as Social Security Number (SSN), address and … Read more