Credit Score Myths

Credit scores can be confusing at best. There is a lot of information floating around about credit and scores that just simply aren’t correct. So let’s start out the year by de bunking some of the … [Read more...]

UltraFICO

Fair Isaac Company (FICO) along with Experian and data aggregator Finicity announced last week that starting in January 2019 they will begin pilot testing a new credit score called “UltraFICO.” In … [Read more...]

Opting Out

Does “opting out” really help your credit score? For years I have had people tell me their clients opted out and it increased their credit score by 10 or more points. In reality this is a myth. … [Read more...]

One Simple Mistake That Can Drop Your Credit Score

There are many obvious actions that can cause a credit score to drop such as making late payments, maxing out a credit card, etc. But there is one seemingly innocent action that you’ve probably never … [Read more...]

Late Payments and Revolving Balances

Late payments and revolving balances are the two things that can do the most damage to a credit score. Having a late payment show up on your credit report probably makes sense but can revolving … [Read more...]

What Exactly is a Rescore?

A “Rescore” is the updating of information on a credit report at the bureau level in an expedited manner. It is not credit repair and it is not a manipulation of the credit report. Eventually the … [Read more...]

Do You Still Owe On a “Charged Off” Debt?

The simple answer is yes. Just because a creditor charges off a debt does not mean you don’t still owe it, even if you’ve received a 1099 for it. You are still liable for the entire debt. And the … [Read more...]

‘Tis The Season!

It’s that time of year again. Christmas music, holiday lights, beautifully decorated trees and lots and lots of presents. It’s also the time of year when a lot of consumer’s credit scores drop the … [Read more...]

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