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ChoicePoint became a household name in 2005 when a data breach case involving 163,000 consumer records made headlines around the world. Prominent and controversial, ChoicePoint's database of 17 billion public records is used for background checks, insurance applications and tenant screening. Recently, Credit.com had the chance to ask a ChoicePoint insider a few burning questions about the consumer data industry. Read what Matthew Furman, Vice President Corporate Communications for ChoicePoint, had to say about identity theft, data privacy and consumer security issues. |
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Emergency payday loans are controversial. With annual percentage rates as high as 5,000%, payday loans can seem like a terrible deal. In this article, our credit experts compare the costs of some alternatives and explain when using a payday loan may actually a good idea. Before we get started, you may want to read up about how payday loans really work. Credit.com's article "The Truth about Payday Loans" explains all the details. |
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With all the talk in Congress over possible new credit card rules and regulations, you may not be aware that some credit laws have been around since the 1970's and give you some serious credit clout -- if you know how to use them. Here are the top ways you can exercise your credit rights |
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When Congress approved the Credit Repair Organizations Act (CROA) in 1996, its goal was simple: to put an end to the misleading and frivolous practices of certain "credit repair" organizations. Known alternately as "credit clinics" or "credit doctors," these unsavory businesses make money by leading consumers to believe they have the power to remove accurate negative information (i.e. collections, missed payments, liens) from their credit reports. They don't. There are specific expiration dates for these types of negative accounts set under Fair Credit Reporting Act, and no one, not even the major credit bureaus, can remove accurate information before those dates. |
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Blemishes on your credit report can cost you, but don't despair. It's never too late to become credit worthy. You just need to get started, using our five steps for improving your credit rating, and remember that results won't happen overnight. |
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Did you know that you are entitled to a free credit report from Equifax, Experian, and TransUnion once every 12 months? Under the Fair and Accurate Credit Transactions (FACT) Act, the three national credit bureaus are required to provide this free service. In this article, Credit.com's experts show you how to order your free credit reports, reveal hidden tricks to make the ordering process go smoothly and give ideas on how to make the best use of this free service. |
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Like the automobile industry, the university education industry has used credit to create new customers and sell them more expensive product. With university tuition costs rising faster than other prices, many students are encouraged to borrow money through any of several government-sponsored loan programs. As a result, they graduate with incredible debt loads. For example, in 2004, the annual tuition at the University of California, Los Angeles (UCLA) was $6,585.52 for a California resident and $23,541.52 for a nonresident. That didn't take into account housing, books, meals or any other living expenses. |
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Consumer credit is a sort of self-fulfilling prophecy. As more consumers use it, more merchants need to accept it. And, as more merchants accept it, more consumers use it. That's why it seems as if everybody wants to offer you credit these days. If you shop at a department store and you pay with cash or by check, many employees have been trained to ask you to open up one of the store's own charge accounts. |
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This step-by-step guide shows you the best way to correct inaccurate information on your credit reports. First, check the expiration dates of the records. Next, customize our sample dispute letter and send your correction to the credit bureaus. Keeping your credit reports accurate can be that simple! |
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Your credit data impacts a wide range of financial decisions. Credit card, mortgage, insurance and employment decisions commonly use credit report information in the evaluation process. Inaccurate and fraudulent information on your reports could lead to costly increases in your rates. From checking your credit reports for errors to correcting inaccuracies, the following tips show how you can keep your credit reports accurate and healthy. |
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