Smart Credit Blog - Latest Comments

Re: FICO Reveals Score Impact of Mortgage Delinquencies

John Ulzheimer — Thu, 12 Jul 2012 12:34:03 -0000

I don't suppose you got that forbearance agreement in writing? Normally those agreements tack on unpaid interest on the back end of the loan.

Re: What’s the Best Credit Card Debt Percentage?

Ghghh112 — Thu, 12 Jul 2012 08:03:20 -0000

im mexican and i got an even bigger peniz and average hands and im not ugly. oh and i got some monies

Re: FICO Reveals Score Impact of Mortgage Delinquencies

Debmlittle — Thu, 12 Jul 2012 00:46:23 -0000

I had a forbearance agreement and was not late before entering in to the agreement. Now I am finding in spite of the forbearance agreement the mtg co. is reporting me as late. My score went from 710 to low 600's. I don't understand how they can ruin your credit when you made a forbearance agreement. I was unemployed now I have a job but most companies do a credit check. Is there any way I can fight them reporting me? I'm currently in the process of a modification but the forbearance is still in effect. I'm trying to get back on my feet. If the modification doesn't go through then I will have to make up the back payments with interest, late charges. It seems like they just set you up.

Re: FICO’s Survey of Risk Managers – Cautiously Optimistic

Jeff — Tue, 10 Jul 2012 17:25:35 -0000

FICO just announced the results of the latest survey today, July 10. http://www.fico.com/en/Comp...

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

John Ulzheimer — Tue, 10 Jul 2012 12:45:12 -0000

Hi Steve. The IRS doesn't go into whether or not their policy is retroactive BUT we've seen several examples of successful withdrawal applications for liens that were filed years before their new policy and were paid in full. I'd say go for it.

Re: FICO Reveals Score Impact of Mortgage Delinquencies

John Ulzheimer — Mon, 09 Jul 2012 13:27:57 -0000

Hello Bob. Just to clarify, your FICO score didn't go up to 900. FICO's range is 300-850 so that's probably your VantageScore, as it caps out at 990.

Re: FICO Reveals Score Impact of Mortgage Delinquencies

Bob — Sat, 07 Jul 2012 14:09:50 -0000

Probably less common, but my FICO score went up after foreclosure. I went up from 820 before foreclosure to 900 one year after foreclosure. I believe it is because I have tons of credit to begin with but never use it. When my mortgage was wiped away, so was my debt to income ratio. No longer straddled with such heavy debt, I apparently look like a better credit risk than before.

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

SteveB — Wed, 04 Jul 2012 14:24:33 -0000

Excellent info. I have multiple years of back taxes rolled into a payment plan. Is there (as long as I keep my payments current) any possibility of having the Liens they did file before the payment plan withdrawn?

Thank you

Re: What’s the Best Credit Card Debt Percentage?

Lol — Wed, 04 Jul 2012 04:04:20 -0000

im black and i have big hands and a gigantic peniz, i hope this helps

Re: New Settlement Documents Sent in White v Experian Bankruptcy Class Action

Nifty165 — Tue, 03 Jul 2012 19:37:38 -0000

44,437,500 out of a 45 million dollar lawsuit white law firm only has to pay less than 500 thousand dollars of the settlment to the 750 thousand claimants that filed legitimate claim forms. This is crazy that this has been in court for over a year now just becuase the white law firm doesn't want to have to pay out that 500 thousand and asking for more money for his legal team. I do hope that the judges involved with this case can clearly see that the claimants have been used for personal gain here and the victims in this case should be awarded more money, not hte attorneys. they are already getting 44,437,500 and they want more???? this is a real slap in the face for the claimants at this point feeling very used for the sake of a business to profit not justified by a crooked credit agency~

Re: Disputing Credit Report Information, What Happens to my FICO Scores During The Dispute?

John Ulzheimer — Wed, 27 Jun 2012 08:55:12 -0000

What you’re suggesting would constitute incorrect credit reporting. It’s been my experience that one of the easiest things to correct with the credit bureaus is a loan’s current balance.

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

Lafcadio — Mon, 25 Jun 2012 18:14:01 -0000

I had a California state tax lien filed, due to the failure of turbotax to e-file a return from several years back. I re-filed the return and actually had a credit for the year in question. I received a letter from the CA state franchise tax board that they were 'no longer investigating this matter' but the lien is still on my public record, and subsequently affecting my credit reports. How do I remove this from my public record, and from my credit report? Whom should I contact?

Re: Disputing Credit Report Information, What Happens to my FICO Scores During The Dispute?

Adam2an — Thu, 21 Jun 2012 11:48:59 -0000

I believe the article is partly true to certain scenarios. There are scenarios where in the consumer paid off his full payments(loan) on time but still shows up the credit score statement as loan payment pending even after one year.

There are lot of incorrect information which might results in screwing somebody life.

Re: What’s Debt Consolidation?

Lizloansbest — Thu, 21 Jun 2012 10:31:11 -0000

Well, I consider a debt consolidation loan as one of the best loan option to apply nowadays. I wonder if what are the other loan options that can be made as an alternative to a debt consolidation loan.

Re: Prepaid Debit Cards Popular with the Underbanked

John Ulzheimer — Thu, 21 Jun 2012 01:01:31 -0000

Hi Bobbi. Thanks for your comment. I think I may be the most outspoken critic of prepaid debit cards in the country. I've gone on FOX, NBC, have written articles critical of the cards and their celebrity endorsers, and have been interviewed countless times about their fees and deceptive marketing practices. I'm sorry you fell for their message. Clearly they're one step up from payday loans in the grand scheme of things. When you get done using your card please go open a checking account with a credit union and be done with them for good.

Re: Prepaid Debit Cards Popular with the Underbanked

Bobbi McLaughlin — Wed, 20 Jun 2012 14:42:51 -0000

I am a victim of prepaid and payroll debit cards.It seems as if these card may have some hidden fees that are damaging to the cardholders.The fees that we have incurred from these cards were less than fair and damaged our pocketbook in the worst of ways.I feel that we are one of millions who have experienced this unethical practice and we unfortunately have been in a vulnerable position that we fell prey to these unscrupulous preditors.This is being nice.

Re: Disputing Credit Report Information, What Happens to my FICO Scores During The Dispute?

Deemat2004 — Thu, 31 May 2012 08:21:11 -0000

I think this is a good article with some much needed information. I have had friends tell me that information doesn't show if an item is being disputed and I've always wondered if this was true. I think some people would try this when getting a loan but I also think many would not. However, I do have a problem with the writer's statement,

"But, I have a much better “score improvement” idea…earn great scores by paying your bills on time and staying out of credit card debt and you won’t have to try and beat the system. You’ll pay lower interest rates, lower insurance premiums, and be treated much better by your lenders."

I statements like this in almost every article I ready, answering someones question regarding a credit issue. I don't honestly think any person on this earth would purposely not want to pay their bills on time. Give your readers actual ways to budget or information on credit card usage, not talk down to them as if they were your child. Your statement won't help anyone pay there bills on time or stay out of credit card debt.

Thanks,

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

John Ulzheimer — Thu, 31 May 2012 08:13:10 -0000

Released and withdrawn are two completely different things. Released will NOT result in a tax lien being removed from your credit reports. Released tax liens are removed from your credit reports 7 years from the release date. Withdrawn tax liens are removed immediatley.

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

thekid — Wed, 30 May 2012 12:56:00 -0000

Spell check should have been "now "( not ) waiting, and paid instead of pad. my bad

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

thekid — Wed, 30 May 2012 12:53:35 -0000

So what is it, I have just received a 668 certificate of release from the IRS, I have just read some of the comments speaking about a "withdrawal". Some of the comments suggest only a withdrawal will get the credit agencies to take it off your credit report. So my question is do I still need to get a withdrawal from the IRS. I have already notified the credit agencies of the release and not waiting on a reply to my dispute. I had 2 liens and just pad off the other, the IRS told me that one would "self release". Do you recognize the term and what can you tell me about it. I am working very hard to clean up my credit and after these 2 are taken care of , will only have 2 negative listing left. Thank you in advance for any info you can give.

Re: Retailers File Anti-trust lawsuit against Visa and MasterCard

John Ulzheimer — Fri, 25 May 2012 08:18:56 -0000

Do you have variable pricing for people who pay with credit versus those who pay with debit? I know the old agreements with the credit card networks used to prohibit that, but not any longer.

Also, in all fairness, your deal with the petroleum companies is largely to blame for the thin margins on gas. If your margin was a dollar per gallon it would be less of an issue.

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

John Ulzheimer — Fri, 25 May 2012 08:16:59 -0000

Good Luck, Michael. Please come back and let me know if you were successful.
John

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

MichaelS — Thu, 24 May 2012 21:06:52 -0000

I just received a form 668(z) cerificate of lein release $33,508 NIce!

God I hope it comes off the credit report.

Re: Retailers File Anti-trust lawsuit against Visa and MasterCard

UE1 — Wed, 23 May 2012 16:30:10 -0000

Last year my company paid Mastercard and Visa five million dollars in credit card fees. Our net profit was less than half a million. The banks control Mastercard and Visa and operate the card companies as a monopoly. As all monopolies, the card companies should be regulated by the fedearl government. We are in the convenient store industry and last year we made ten cents a gallon groos profit on gasoline. We paid the credit card companies seven cents of the ten cents gross profit we made. The credit card company made seven cents and we made three cents. What is wrong with this picture.

Re: Paid and Withdrawn IRS Tax Liens to be Removed From Credit Files

John Ulzheimer — Tue, 22 May 2012 12:39:26 -0000

It’s interesting that the IRS told you they would have it removed from your credit reports. They have no influence over whether or not a lien is reported. The only reason it’s reported is because it’s a public record and the credit bureaus go to courthouses and pull them. It’s not like they’re a bank who proactively reports information to the credit bureaus and can have it removed or modified. The only way to get it removed from your credit reports permanently is for the IRS to file a withdrawal of lien, not just a release of lien. A release won’t result in the removal. It’s got to be withdrawn.