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How Does Being an Authorized User Affect My Credit Score?

A reader writes in looking for advice on whether or not becoming an authorized user on his parents’ credit card will help his credit scores.  John Ulzheimer, credit expert for Credit Sesame, answers. “John, I’m trying to build up my credit score and I read online that if I can get my name added to

How Can I Protect My Credit From My Upcoming Divorce?

A reader writes in looking for advice on how to best protect her credit before she files for divorce after 12 years of marriage. John Ulzheimer, credit expert for Credit Sesame, answers. “John, I will be filing for divorce from my husband of 12 years in the next few months. Almost all of our liabilities

Proposed Bill Would Make Drastic Changes to Credit Reports and Credit Scores

Today Rep. Maxine Waters (D-CA) will introduce the Fair Credit Reporting Improvement Act of 2014. If passed, the Act would result in the most aggressive overhaul of the Fair Credit Reporting Act since 2003 and change the landscape of over 650,000,000 consumer credit reports and credit scores almost overnight. The Act would require the following

How to Remove a Judgment From Your Credit Report

If you’ve ever been involved in a lawsuit that went to trial then you are probably familiar with the term ‘judgment.”  A judgment is a formal decision made by a court following a lawsuit. In the world of credit, it’s not uncommon for creditors or debt collectors to sue debtors for nonpayment of their debts

What is the Credit Repair Organizations Act?

Over eight million consumers filed disputes with­ the credit reporting agencies in 2011 according to the Consumer Financial Protection Bureau. These disputes are generally submitted when a consumer disagrees with the content on one or more of their credit reports. And while consumers can submit disputes to the credit bureaus on their own, many choose

What You Don’t Know About FICO 9 (But Really Should)

In early August 2014 FICO, the company behind the FICO credit scoring system, announced their latest credit bureau risk score, FICO 9. The blogosphere lit up with coverage of the new scoring system but unfortunately most of the blog coverage of FICO 9 was simply regurgitation of FICO’s press release. There were several key points

How Do I Get Collections Removed From My Credit Reports?

When you default on a credit obligation the original creditor will try to collect it from you directly. After enough time has passed, they’ll grow tired and either consign the debt to a collection agency, or sell it to a debt buyer.  At this point you’ll likely start getting letters and phone calls from collection