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Credit Report - Watch Out for Parking Tickets
The economic downturn of the last five years has affected millions of Americans, but it has also affected the budgets of states, cities and counties. With limited tax dollars with which to work, various government entities have had to try to stretch their budgets to allow them to continue to function. Many government agencies at the state and local levels have turned over debt collection to collection agencies, even for such seemingly small debts as parking tickets or library fines. What does this mean? An unpaid parking ticket could end upon on your credit report. Credit reports and the associated FICO credit score have become an increasingly important part of the lives of Americans. At one time, the credit report was primarily used by mortgage lenders to determine if a prospective customer should be granted a loan. In recent years, the credit score and report have been used for an increasingly large number of uses by all kinds of companies. Employers use them to avoid hiring financially irresponsible people and landlords use them to determine if a person might be a responsible tenant. As credit reports are used more often, blemishes on your credit report become magnified in importance. In past years, only significant unpaid debts or bankruptcy filings might have inhibited the issuing of credit. But now, with credit reports being used by so many more businesses, something as small as an unpaid parking ticket can prevent someone from obtaining a job or a lease on a good apartment. This system isn't all that equitable; not all cities and counties report unpaid fines to the credit bureaus. Worse, while the company that originated the FICO score has adjusted their scoring system to account for small fines, not all lenders use that version of the scoring system. Because of this, whether or not such small things affect your credit score is can be determined by something as simple as where you live or with whom you choose to do business. Fair or not, consumers need to be aware that some small debts may find their way into the credit score and the only way to be sure is to check your credit report regularly. Most Americans can obtain a copy of their credit report for free at www.annualcreditreport.com. Many people who have had their scores negatively affected by small fines were unaware that they even owed them. This can happen if the debtor has recently moved. Paying the fine can quickly resolve the problem and raise the credit score again, so by all means, check your credit report! ©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to establishing credit, debt consolidation and credit counseling. MORE RESOURCES:
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GOOGLE SEARCH Credit Report - Watch Out for Parking Tickets The economic downturn of the last five years has affected millions of Americans, but it has also affected the budgets of states, cities and counties. With limited tax dollars with which to work, various government entities have had to try to stretch their budgets to allow them to continue to function. How To Start A Second SEPERATE Credit File! Your personal credit file is separated from those with the same or similar names by several factors, including a driver's license number, birth date, or spouse's name. Although these are three important identifying marks, the number one identifying mark on your credit report is your social security number. How To Use Your Credit Card For Ultimate Financial Advantage Using a credit card wisely is an important step in building a great credit rating. If you're trying to re-build your credit or if you're young and just starting out, pay close attention the next time you receive a new card offer in the mail or online. Credit Card Balance Transfers Explained What is a balance transfer ?A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%) for a set period. It does not have to be the entire amount. Consumer Credit Reports A consumer credit report is a factual record of an individual's credit payment history. It is provided for a purpose permitted by law: to help a credit grantor or lender quickly and objectively decide whether to grant you credit. 5 Steps You Can Take to Get Paid! There are always some companies that have past due invoices and can't seem to get them paid. They might be quietly waiting to get paid not wanting to contact the client for fear of appearing "desperate". The Next Person With Credit Problems Got Their First Credit Card Today! One of the focus areas of my information is the absolute necessity of changing the way a person thinks about money and debt while in the process of repairing their credit. I have seen cases where a couple will work really hard for months, and finally get their credit report to the place they can borrow again and go out and buy something on credit just because they can. Top 5 Reasons To Check Your Credit Report Regularly #1 Make sure mistakes aren't hurting your credit.Reviewing your credit report can help you avoid costly errors. Free Credit Reports Now Available From the FTC The Federal Trade Commission (FTC) has set up a new website (www.AnnualCreditReport. Credit Report Disaster Through Mistaken Identity I've got some very important info I want you to think very seriously about. I'm sure by now you've heard of Identity Theft,. The Best Strategy To Erase Credit Card Debt Credit card debt is a growing sickness in the United States and Europe. It is very important to eliminate debt and take control of your financial health. 10 Ways of Reducing the Risk of Identity Theft 1- Check your credit report regularly2- Secure personal information in your home, especially if you have roommates, employ outside help, or are having work done in your home.3- minimize the amount of information someone can steal, do not carry extra credit cards, your Social Security card, birth certificate or passport in your wallet or purse, except when needed. Restore Your Credit Rating And Reduce Your Debts Your credit rating affects many areas of your life. Opening new credit accounts, buying a home or car, getting a new job, and receiving discounts on insurance rates are just a few of the things that are impacted by your credit score. 10 Simple Steps to Manage Your Credit By far the greatest invention the banks have ever come up with came out in the 20th century. Also the new field of Credit Management was born with the invention of the credit card. Good Credit -- Essential for the Prospective Home Buyer Credit is a funny thing. It can be a useful tool in the hands of an informed individual, or a weight of burden to the unsuspecting. Ethical Finance: Who Benefits From Our Spending? On one hand consumers are being universally criticised for running up significant amounts of debt on credit cards, yet conversely many companies are capitalising on the growing credit card debt, from charities and political organisations to football clubs, the Association of Surgeons and somewhat ironically ActionAid, an international development agency whose aim is to fight poverty worldwide.Financial comparison site moneynet. Minimize your Risk for Identity Theft Identity theft is the fastest growing crime in America. According to the Federal Trade Commission, the number of identity theft incidents reached 9. Credit Counseling Basics Credit counseling is an option you might want to consider if you are having financial problems. The stress can be overwhelming when you have creditors calling you daily to collect money that you simply don't have. How To Protect Yourself Against Credit Card Fraud In the high tech world of today, credit card fraud is an ever increasing problem.By 2005 it is estimated that the online payment industry will capture $12. Credit Reports Inside and Out The Credit Report is like your scorecard in the lending world. Every time you prepare yourself to acquire or purchase something that requires financial assistance from a lending institution, your credit report will be your "presentation card". |
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