Category Archives: Credit Scores

Reporting of Collections Tradelines (Part 1)

An estimated 220 million U.S. consumers have at least one credit report maintained by the major credit bureaus of Expedia, Equifax, and TransUnion. And of these millions of consumers, one out of three have what’s known as a “collections tradeline” included in their reports. Yet most Americans may not even know what a tradeline is, […]

Credit Bureaus Will No Longer Report Most Medical Debt

In mid-March, all three major credit bureaus—Equifax, Experian, and TransUnion—announced they would no longer include most medical collection debt on people’s credit reports. This is a major change that should have everyone checking their credit reports. According to the Washington Post, the credit bureaus will be taking steps to change how they report medical debt […]

Common Complaints about Credit Bureaus

This past January, the Consumer Financial Protection Bureau (CFPB) issued an annual report analyzing more than 700,000 consumers’ complaints about the three national credit bureaus, Equifax, Experian, and TransUnion. According to the report, “In 2021, the NCRAs reported relief in less than 2% of complaints down from nearly 25% of complaints in 2019.” The unfortunate […]

‘Buy Now, Pay Later’ – Why These Programs May Distort Your Credit Score

If you were doing some last-minute holiday shopping online, you might have seen a new option as you chose to purchase your item: Instead of paying the full amount, you could pay a portion at the time of purchase and space the rest over time (often, four payments made every two weeks). But what that […]

Credit Reports: Not As Accurate As You Might Think

Your credit score wields a lot of influence over your life. It can be the make-or-break determinate when buying a car, securing a mortgage, or accessing a line of credit for a new business venture. We’d like to think the logic behind our score is pretty bulletproof, but that may not be the case. In […]

Why everyone should know their FICO credit score

Credit Report Error Lawyer in NYC

https://www.cnbc.com/select/why-you-should-know-your-fico-credit-score-how-often-to-check/ Checking your credit reports for free at http://annualcreditreport.com/ is a good start. But to know the score(s) used by most lenders — the FICO score(s) — consumers must look beyond just their free credit reports or even the Vantage scores offered by the credit bureaus.

Study: CFPB complaints shattered records in 2020, exposing how the COVID-19 pandemic battered consumer finances

Credit Report Errors Attorney - COVID-19 Finance Study

Confirmation of President Biden’s nominee Rohit Chopra will pivot agency back to only job: protecting consumers WASHINGTON — Consumer complaints about problems with financial companies such as banks, credit bureaus and debt collectors rose by more than 50 percent in 2020 and set new records for each month of the year, according to a new […]