Credit and Debt Blog

(Tomi from Texas) I have paid off all creditors, original and collection agencies, based on info on all 3 credit bureaus. Will the 7 year time limit start all over again now that I have paid in full all my bad debt?

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(Juan from New Jersey) Does your credit score get rated differently when buying a car verse a what you might see on the internet?

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(Terrie from Ohio) I have 4 credit cards that I settled with this past year and I did a short sale on my house. I am trying to bring up my credit score. If I pay on the credit cards so they will say paid in full instead of settled on will this improve my [...]

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When you are looking for an answer to a very specific question, it may sometimes be difficult to find exactly what you are looking for. That is because your situation is unique, and most other situations that you read about are just not the same as yours. Now you can ask your questions directly.

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Fair Isaac Corporation is continuously tweaking their FICO credit scoring models to more accurately predict consumer risk. They also want to cater to the needs of lenders that buy these scores. In doing so, it is important to let consumers know how these changes will affect them. Here are the newest revisions:

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The volunteer income tax assistance (VITA) program has been popular with low and moderate income taxpayers for years. One firm has changed the rules by matching eligible taxpayers with asset-building programs. Instead of simply filing a free tax return, taxpayers are also treated to two of their credit scores. They can find out if they [...]

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Fiscal Progress has announced that North Carolina residents are now able to receive free credit scores and credit reports. Because of software and funding provided by Freddie Mac, there is no cost to the client.

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If you have bad credit, be prepared to pay more than just higher interest for purchases on credit. Your car insurance premiums will likely be higher also.

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One of the newest major projects undertaken by Fair Isaac Corporation is a medical version of a credit score. Since medical bills are not repaid with the same regularity as other bills, this new tool is seen as a way to provide greater predictability of repayment to medical service providers. Affectionately known as MedFICO, this [...]

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Discover and Experian recently announced a new arrangement that would provide Discover cardholders with a consumer credit score product. Known as Credit ScoreTracker, the service could allow Discover cardmembers understand how their credit usage affects their credit score. This tool comes at a substantial cost though. At $7.99 per month at the time of this [...]

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