Credit Report

Your Credit Score: Why it Matters

Imagine that you’re a loan officer at the local bank. Two customers, Mr. Rich and Mr. Buck, come in to borrow money. You check Mr. Rich’s history; he has an excellent credit score, 800. Mr. Buck’s score is an embarrassingly low 300. To whom should you lend mone Read more...

Credit Accounts Bought By New Collection Agency

Dear Melissa, I have several accounts on my credit report that just got reopened by new collection agencies that bought the existing account. The accounts are 5 years old now. How do I get these accounts removed from my credit report without having to pay a cre Read more...

Will Talking to Debt Collector Reset SOL?

Dear Melissa, We recently received a phone call from a gentleman stating he was calling about a debt. The message was incomplete, and his number was cut off. I hit my redial and called the main number back. I was asked if I was the household member responsible fo Read more...

Statue of Limitations & Time Debts Stay on Credit Report

Dear Melissa, I want to repair my credit and raise my score and was reading about states having a statue of limitation. With this being the case can I have accounts that have reached the statue of limitations removed from my credit? And with this statue of limitati Read more...

Does the Collection Agency Have to Remove An Error?

Dear Melissa, About 2 months ago I received my quarterly credit report to discover it had dropped by 100 points—from a 750 to a 650. I discovered I had been turned over to a collection agency for a bill, which I thought my insurance company had paid, as it was for Read more...

Are Hospital Bills as “Valid” as Others?

Dear Melissa, I have always heard that if you will just pay something that a hospital cannot do anything as far as turning you over to a collection agency, is this true? If you are paying what you can afford due to still having medical problems, and unable to work, Read more...

Credit Scores & Car Loans

Q: What credit score is needed to get a car loan? What are the best options in your opinion? Any help would be appreciated. Thank you so much. Sincerely, Julie A: Even though the economy is seeing a mild recovery, credit is still tight which means it may be diffi Read more...