TheCreditGuyTV Podcast

How many credit score points do you get when you subscribe to optoutprescreen.com. I have heard from many “experts” making clams of score improvement of 10 to 50 points by just using the optoutprescreen.com website. There is a flaw with the argument, the truth is, that the repositories don’t keep your “opt out” information with your repository file. It is stored in a different database. So for this to work, the credit score would have to create a score based on more than just an individuals credit repository file. If you are a believer in this theory, I challenge you to provide proof. Odds are something else in the repository file changed creating the improvement. The next thing they will try and sell you on, is that the IRS targeting political group to influence the outcome of a presidential election, ya right… 

Find out how you can get your real 3 FICO Scores

How to get your credit score, for the first time ever you can now get your real 3 FICO Scores. As long as I can remember consumers have had no way to find out their real 3 FICO scores, because of pending litigation. Consumers had only had access to two of the three major repository scores at the MyFICO website. Well that litigation has been resolved ! Consumers now have access to all three credit scores for a total of 19.95 each (all three total just over $60.00 with tax) It is the second big win for the consumer this year after the Vantage score company announcement of the adoption of the 300-850 scoring range. There is a twist though watch the video to find out why they are still not the real Mortgage FICO scores.

FICO and Vantage are trademarks of there respective companies.

Like the Page = http://www.youtube.com/subscription_center?add_user=sullythecreditguy

“Pay for Delete” refers to a collection company offering to delete a collection account from someone’s credit report if you pay them in full. There is no formal “pay for delete” plan with the repositories or collection companies.

The Repositories disapprove of removing correct negative information simply because it has been paid. They will give a collection company that continuously makes this request warnings and could eventually restrict the collection company’s ability to report to that repository. Some repositories agreements clearly state “Paid in full collection accounts must not be deleted” & “Do not delete paid in full collection accounts.”

Recently collection companies have been instructing debtors to pay the collection and then file a dispute with the repositories and the collection company will tell you that they will not respond to the dispute and it will be removed per the Fair Credit Reporting Act. The problem with that method is you have nothing to fall back on when som

Credit Scoring leader FICO(r) has over fifty different versions of scores with many different ranges. On top of that, the repositories created their own credit score called Vantage(r). Vantage Scores have a different range for each version of their score. This is part of my continuing education class I did for MSHDA at their annualBuilding Michigan Communities Conference. We pick up the presentation when I am explaining why the repositories decided to team up and create a competitor to FICO.

Experian, Equifax and TransUnion said….So FICO is making all this money based on our (the repositories) data, what if we came up with a credit score to compete with FICO? Someone said OK that sounds like a good idea. We will call it Vantage, but we will make our range slightly different than the FICO range, it will overlap on the top side 501-990.

“Pay for Delete” refers to a collection company offering to delete a collection account from someone’s credit report if you pay them in full. There is no formal “pay for delete” plan with the repositories or collection companies.

The Repositories disapprove of removing correct negative information simply because it has been paid. They will give a collection company that continuously makes this request warnings and could eventually restrict the collection company’s ability to report to that repository. Some repositories agreements clearly state “Paid in full collection accounts must not be deleted” & “Do not delete paid in full collection accounts.” You want the next five things that collection companies tell you just click on this video right here.So you with a little bit me we’re going to change the credit industry thank you

How many credit score points do you get when you subscribe to optoutprescreen.com. I have heard from many “experts” making clams of score improvement of 10 to 50 points by just using the optoutprescreen.com website. There is a flaw with the argument, the truth is, that the repositories don’t keep your “opt out” information with your repository file. It is stored in a different database. So for this to work, the credit score would have to create a score based on more than just an individuals credit repository file. If you are a believer in this theory, I challenge you to provide proof. Odds are something else in the repository file changed creating the improvement. The next thing they will try and sell you on, is that the IRS targeting political group to influence the outcome of a presidential election, ya right… 

As part of my duties with my local Mortgage lenders Association we were excited to have Kirt Gundry and the examination team from the Department of Insurance and Financial Services (DIFS) on hand again this year to give us the latest update on audit findings and best practices to survive a state audit. Mark Weigold, Director of the Consumer Finance Section, will also be there to answer your questions as well. Thank you to Pamela Williams for allowing me to interview her.

How to unfreeze my TransUnion credit report. Call the consumer affairs department. Trans Union — 800-916-8800 FREE You can do a permanent lift, or they can issue a PIN number, which will just lift the freeze for that one pull.

How to unfreeze my equifax credit report? To unfreeze Equifax call the consumer affairs department. Equifax — 800-203-7843 FREE You can do a permanent lift, or they can issue a PIN number, which will just lift the freeze for that one pull.

How to unfreeze my Experian credit report? For Experian, they actually will have to lift the freeze through their website. At the website they can lift freeze temporarily/permanently, or they can request a pin.

Experian Credit Freeze Center

How to dispute something on your credit report online, CFPB mandates change to e-OSCAR. A major improvement has been mandated by the CFPB and now consumers will have much better odds of a permanent correction, When disputing something on their credit report. The e-OSCAR system used for decades to report information to the major repositories, now for the first time can push back dispute inquiries through that same system greatly increasing consumer chances to get errors removed permanently. It is a big win for the consumer and will further hurt the evil credit repair industry. Click here to read the CFPB Notice 

I had the opportunity to speak at Eastern Michigan University to a group of graduate students. I am so pleased that they will be teaching some credit education to first year students. I have always said there should be more education in school regarding credit and credit scouring. So pleased that my good friend Christine invited me to help college students get that type of information.

In the video I cover how to get out of student loan debt.
what is better credit Freeze vs fraud alert.
CFPB Disparate impact and credit scores
Your medical FICO Score. Will you get the death panel?