Freezing your file w/credit reporting agencies
9 years ago
Featured Answer
Sort by:Oldest
Comments (21)
- 9 years agolast modified: 9 years ago
- 9 years ago
Related Discussions
credit score ???'s
Comments (18)Here is my 'guess' and it is just that...a guess. Concerning 2 and 3. refinanced my mortgage early in 2005 to a very good rate. This now shows as a 'new' loan, and it has not been paid down much in one year, by their way of thinking. I have about $160K in untapped equity (no HELOC or anything), in what remains If I understand you correctly, you have equity in your home, but have not applied for a HELOC on it. Right? They don't have any idea really then that you have that equity...right? Now this is just a 'thought' but you might want to pay off the car loan with some of that equity in your home, and then concentrate all your efforts toward paying off the HELOC. I imagine there will be some who will say 'NO' to doing that though. I applied and was approved for a HELOC a few years ago, but have never tapped into it. I 'thought' I might want/need it to get the driveway paved, but found another way that was interest free for a year and that was all I needed. I might add that I have no loans 'open' at this time and no revolving credit 'owed', as CC are paid off each month. My guess is that once the car loan is paid, that your score will improve significantly. In the meantime your score is a high B, which is still miles above the norm. Sue...See MoreAnnual Credit reports?
Comments (11)Hi Sweets98, Just b/c the bills aren't on the credit report doesn't mean they aren't out there. What some institutions do is let the debt linger out there. Sometimes they don't even report it for 5 years or longer, they sell the loan to someone else etc. etc. It's great that you are paying down all the bills that you owe, believe me once you start settling they come out of the woodwork. The other thing you can do to locate creditors is look at the list of recent inquiries b/c if there are agencies that have been checking your credit regularly every few months then you can contact them to find out "why". I wouldn't call them all at once....cuz they will start hounding you. Call one at a time. Once you have one paid call the next one. You will get it all straightened out. Also I would recommend signing up for credit monitoring. The best one is True Credit http://www.truecredit.com/entry/drtv1.jsp?cb=DRTV1 It's 9.95 a month but it updates your score monthly. Any new accounts, closed accounts andy pay offs or settlements (that are reported to the 3 bureaus) I use this service and I find it helpful. I just bought my first home and I plan on using this service for 1 year. I had student loans that I just finished paying most of, then consolodated the rest so now one payment but I wanted to see how my credit was affected. It's really come in handy. I know some people don't agree w/credit monitoring but it is useful for people trying to improve their credit score that are paying off old debt or closing out accounts and just want to be informed. Good Luck...See MoreShould I prohibit unauthorized use of credit info?
Comments (11)They do not actually look at your credit report without your permission. Not directly anyhow. Here's how it works: The All State Home Mortgage Company (or any other company who wants to send out offers such as this) goes to the credit reporting agency and buys a list of people who meet certain criteria. For example, they may request a list of names of people who own a home, have a credit score between 670 and 710, and have no 30 day late payments in the last 12 months. The credit reporting agency puts this information into its computers and generates a list for the company, charging a certain amount of money for each name sold. The names are only allowed to be used one time. (To ensure that the names are only used once and for the stated purpose, the credit bureau puts in a number of "dummy" names that are not real people, but are used to detect if the list is used in any unauthorized manner, such as to send out an additional solicitation.) As far as the risk of identity theft, or theft of any other personal information, there is little if any chance of that happening. Your account numbers, the companies you do business with, employment information, and all other personal data is kept confidential. The only real reason to restrict this type of access to your credit file would be to cut down on junk mail. But as Talley_Sue_NYC said, you might also possibly miss out on a decent offer someday....See MoreCredit Card Issues
Comments (38)It sounds like with the number of credit cards you are currently holding, along with the large balance on the citibank card, you would be a great candidate for a REPUTABLE debt settlement program. I say reputable because it is well known that the majority of debt settlement companies have taken their fees first before they ever settle one of your accounts. However, new FTC legislation bans this practice, and as of October 27th, 2010, debt settlement companies must settle at least one of your debts before they can charge you for their services. You may genuinely benefit from working with an accredited debt settlement company. By doing so, the company will negotiate with your creditors on your behalf to help secure a settlement that is a percentage of what you originally owed. Great settlements are usually somewhere between 40-60% of the original debt. If you do choose to do this be aware that your credit will initially suffer, but that with more cash flow to go around because it is not being eaten up in minimum payments and interest, you can actually begin to repair your own credit by making solid financial decisions. In reality, you most likely already have poor credit due to your current situation, so you seem to have nothing to lose by seeking reputable, outside help. You can get ideas for repairing your credit from myfico.com. Further, I would be wary of going with a credit counseling agency. Though they may have a 'non-profit' status, they are in reality usually set up by the credit card companies themselves in order to recover as much of the original debt as possible. Nobody works for 'free.' Credit counseling works by contacting your creditors to lower the overall interest rate of a debt. Though this may save you some money, you would be better off finding an accredited debt settlement company to negotiate for you. Arm yourself with perseverance and a solid understanding of all your options. Once you set your mind on a plan, follow through- debt does not have to consume your entire life, and can be paid off in time....See More- 9 years ago
- 9 years agolast modified: 9 years ago
- 9 years agolast modified: 9 years ago
- 9 years agolast modified: 9 years ago
- 9 years ago
- 9 years ago
- 9 years ago
- 9 years ago
- 9 years ago
- 9 years ago
- 9 years ago
- 9 years ago
- 9 years agolast modified: 9 years ago
- 9 years ago
- 9 years agolast modified: 9 years ago
- 9 years agolast modified: 9 years ago
- 9 years agolast modified: 9 years ago
Related Stories

GREEN BUILDINGThe Big Freeze: Inventors Break New Ground to Keep Things Cool
Old-fashioned fridges can be energy guzzlers, but there are more eco-friendly ways of keeping food fresh, as these global innovations show
Full Story
ORGANIZINGGet Organized: Are You a Piler or a Filer?
Tote out the bins and baskets and learn how to be an organized piler if file cabinets leave you cringing
Full Story
MOST POPULARHow to Get Rid of Household Mold
Find out how to work with a pro to stop mold from damaging your house and health — and how to prevent it from forming
Full Story
MOST POPULAROrganizing? Don’t Forget the Essential First Step
Simplify the process of getting your home in order by taking it one step at a time. Here’s how to get on the right path
Full Story
KITCHEN COUNTERTOPSQuartz vs. Granite: The Battle of the Countertops
Read about the pros and cons — and see great examples — of these popular kitchen countertop materials
Full Story
ORGANIZINGHow to Get Your Papers Organized Before Tax Time
A professional organizer offers a manageable plan for tackling those paper piles now to make April a little easier
Full Story
REMODELING GUIDESYou Won't Believe What These Homeowners Found in Their Walls
From the banal to the downright bizarre, these uncovered artifacts may get you wondering what may be hidden in your own home
Full Story
SELLING YOUR HOUSEKitchen Ideas: 8 Ways to Prep for Resale
Some key updates to your kitchen will help you sell your house. Here’s what you need to know
Full Story
BEFORE AND AFTERSBefore and After: 6 Bathrooms That Said Goodbye to the Tub
Sleek showers replaced tub-shower combos in these bathroom remodels. Could this be an option for you?
Full Story
LATEST NEWS FOR PROFESSIONALSGuide to the CARES Act and Other Federal Relief for Businesses
Learn about the loans, grants and other financial assistance available to small businesses under the CARES Act
Full Story
Anglophilia