I prioritize to pay for the things I think are the most important. yes/no
I am able to consistently save at least 5% of my income. yes/no
Currently, I have adequate health, life, home, and auto insurance. yes/no
I balance my checkbook every month. yes/no
I am generous with my money. yes/no
I consult with my spouse/partner before making credit card charges. yes/no
I am currently satisfied with my level of income. yes/no
For the most part, I enjoy my job. yes/no
Before I go shopping, I plan. yes/no
I understand the terms and conditions of all my lending agreements. yes/no
I have a good sense of my relationship with money. yes/no
I establish short and long-term financial goals. yes/no
I regularly monitor and adjust my financial goals to measure my level of success and to meet changes. yes/no
I am informed about current issues, trends, and legislation that have or could have an impact on my personal finances. yes/no
I have a spending plan. yes/no
I have a retirement plan. yes/no
When I die, I know where my assets will go. yes/no
If your identity has been stolen or you believe that it has, most of the places you need to contact are 24 hours a day, so anytime is a good time!
1.) Identification Information - The first thing listed will be your name, date of birth and Social Security number. These are used for identification. Employment information may also be listed.
2.) Public Record Information - Data from federal, state or county court records. Bankruptcies, liens or judgements and other types of claims.
3.) Collection Agency Information - A collection is an account that has been turned over to a collection agency by one of your creditors because you have not paid the account as agreed.
4.) Credit Information - This section makes up the bulk of the report. It will include mortgage, installment, revolving, other open and closed accounts.
5.) Inquiries that display - All authorized and legitimate requests to see your credit history (hard inquiry).
6.) Inquiries that DO NOT display - These inquiries are displayed only to you and are not considered when tabulating your credit score (soft inquiry).
7.) Consumer Statements - If for some reason you cannot prove that a negative item is an error or if you are having a disagreement with a certain creditor, you have the right to tell your side of the story in 100 words or less. This statement will be added to your report.
Recent studies by a Public Interest Group found that over 70% of credit reports contain errors. Incorrect information in your credit file lowers your credit score. As the result you get a higher interest rate when you: take a loan, open a new credit card account, lease a car, etc. 29% of the credit reports in this study contained even more serious errors that could result in the denial of credit. These errors included false delinquencies, public records, judgements and credit accounts that did not belong to the consumer. Sometimes these errors are the work of sloppy data entry, but it is also often due to the ever growing epidemic of identity theft.
Since your Credit Reports are used to determine IF you are to be given credit (and what rates you will be charged), it is in your best interest to examine your reports carefully, correct inaccurate information and make every effort to remove ALL unfavorable information.
~The Credit Doctor
A debt collector may (unless otherwise stated by you)
Do you pay your bills on time (discipline)?
Payment history is a major factor in credit scoring. If you have paid bills late, have collections or a bankruptcy, these events won't reflect well in your credit score, however there is light at the end of the reporting!
Do you have a long credit history (longevity)?
Generally speaking, the longer your history of holding accounts is, the more trusted you will be as a borrower.
Have you applied for credit recently?
If you have many recent inquiries this can be construed as being negative by the bureaus. Only apply for credit when you really want it.
What is your outstanding debt?
It is important to not use all of your available credit. If all of your credit cards are maxed out, your scores will reflect that you are not managing your debt wisely.
800 and Higher (Treated like Royalty)
700-799 (Very Good)
620-679 (Ok or Fair)
499 and Lower (Very Bad)