Some consumer protection attorneys in Utah say credit reporting agencies are not doing enough to help consumers resolve disputes on their credit report. They say in some cases the agencies are knowingly ignoring the law.

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Dear Crabby, how do I get a good credit report?

Dear Crabby,

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Housing paperwork can pile up at tax time – here’s what to keep, and for how long

Many taxpayers are preparing for their annual battle with IRS form 1040 by gathering up all their documents, statements, checks and other assorted papers. At the end of this process, taxpayers are often left with piles of neatly sorted, tabulated and cross-indexed piles. From a homeowner’s perspe…

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Question by CMDS: What is a “default determination” on a credit report?

“Once eligibility has been established, borrowers only need to meet basic credit criteria. Specifically, a PLUS loan applicant is not eligible for a PLUS loan if he or she is determined to have an adverse credit history according to criteria in federal regulations.

A PLUS loan applicant is considered to have adverse credit if any of the following conditions apply:

The applicant is 90 days or more delinquent on the repayment of any debt
The applicant has had any debt discharged in bankruptcy during the five-year period before the date of the credit report
The applicant has been the subject of a default determination on any debt, a foreclosure, a tax lien, a repossession, a wage garnishment or a write-off of a Title IV debt during the five-year period before the date of the credit report.”

Ok! So what does it mean to be the “subject of a default determination on any debt?” Say for example, you were delinquent on several credit cards, never filed bankruptcy, and then paid all of your debts off before you applied for the GradPlus. Do you still have a “default determination” within the past five years?

Best answer:

Answer by bdancer222
Default determination is a general term to cover any defaulted debt — as in failed to pay.

If you were delinquent on credit card accounts and brought them current, that would not be a defaulted account If you didn’t pay those credit cards and the accounts were written off and sent to collections, that would be a defaulted debt, even if you subsequently negotiated a settlement with the collection agency.

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Dear Debt Adviser, I have some serious questions about my credit. I have some substantial outstanding debt from college that, due to negligence, has gone to collectors . However, when I got a credit report it did not show up, although other things did. I had a co-signer.

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Credit Matters: What really dings your report

We live in a financed economy: Cars, houses, credit cards and any late payment can leave us with a seven-year black mark on our credit report, especially if that delay happens to involve a morgtage payment. “It can plummet their score by 80 points,” said Lucy Vasquez of Consumer Credit Counseling Service. “That’s huge. And that’s one big ding that you do not want on your credit report.” So we …

Read more on KENS 5 San Antonio

thanks @closedblueyes! (credit report suggestions)

Posted via email from financiallifestream’s posterous

Question by janeth flick: What good is getting the “free credit report” if they don’t give you your FICO score?

What good is getting the “free credit report” if they don’t give you your FICO score?

Best answer:

Answer by Captain Feathersword
And why is this question in the Other…Health section?

What do you think? Answer below!

Complete video course on how to correct bad credit. You will learn: how to identify mistakes, tricks to increase your score quickly, how to contact the major credit agencies, what the scores mean and what is a desirable score, & how to “beat the system”. You can be on your way to a much better credit score within 4-6 weeks.

Question by Neerdowellian: What good is getting the “free credit report” if they don’t give you your FICO score?

I got the “free credit report” from Equifax but what they gave me doesn’t tell me my score – for that I have to pay a fee. And let’s face it, that 3-digit number is the only thing you really want to know! That’s hardly “free,” wouldn’t you say?

Best answer:

Answer by ♥Chastons Wifey♥
Credit report and FICO score are two totally different things. Credit report only shows you who and what going on with your credit. The 3 big credit bureau (equifax, experian,and transunion) views the history of your report to come out with your FICO score.

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