Archive for August, 2010

Why Credit score should effect getting hired for a job?

Alan asked:


I just recently got rejected for a job becouse of my credit rating. This not only plut me into a bigger bind then I allready was, but will effect my credit even more since im unemployed and have been barely making it. Now My credit history isnt entirely my fault durring a nasty divorce I was left with credit cards that I didnt even use with my name on them all maxed out (three total) 2 wich I paid off later when I could and one that is being handled by my attorney becouse it was opened AFTER we had allready split, she had illegaly put my name on there. Also I lost a house becouse of the divorce, I have worked hard then and since then just to provide for my family and CANNOT help the fact that I lived check by check. I never filed bankruptcy or even owe a large amount to anyone, I just basicaly have poor credit.

here is what the GA law states:

FAIR CREDIT REPORTING ACT

Employers have specific duties when using a consumer credit report for hiring or employment purposes. An applicant or employee must give written consent to the employer before the employer obtains a credit report. Additionally, the employer must provide the employee or applicant with a copy of the report and a summary of their rights before the employer can take any adverse action based on the credit report.

I just dont understand why they wont hire me becouse of that, im well more then quilified with 15 years experience IN FEILD, but becouse of bad credit I cannot get the job. Is that right? it just dosnt seem fair, in this day and age when the credit ratings on everyone is going down… who can get hired anymore?

Clarence

Can my debt just disappear?

Dog Owner asked:


Between 1998 and 2003 I incurred a lot of credit card debt, some medical bills, and a few debts from the cable company, power company etc. I recently decided to start paying off my debt and I obtained a copy of my credit report from Experian, TransUnion, and Equifax however all three reports all say the same thing. I have no accounts in good standing, no accounts in bad standing, and no charge offs or anything. There is absolutely nothing on any of the reports. Any ideas on what could be going on??

Harvey

Free Instant Credit Report: Instant Way to Know Your Credit

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Leonard

Liens and your Credit Score

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Yolanda

Help with credit score. I have a good score, but one bureau is lower, but still good?

Jay & Tiffany asked:


Let’s see, I am just starting to make enough money where I can buy whatever I want. Now, I have no late payments on equifax and transunion but experian has a late payment that was an error. At first it was on all three bureaus, but I disputed it with a letter and got it removed off of trans u and equifax, however it is still on experian. Also, I have just had a utility late payment removed. I was living at an apartment complex, and when I moved out, the manager told me that she would apply my deposit to the utility bill, ,my deposit was 250 and my bill was only for like a week, even still, I gave her my forwarding address. I never got my deposit back or a bill so I called and she had left the apartment complex and retired. I checked my credit one day and found out I owed 50 bucks for a utility bill and it was on my credit report under collections or a charge off something like that, I paid it off, and just contacted the company, they sent a letter to the bureaus to have it removed because it was confirmed that the woman used people’s deposits for her own use. SO that would mean there is no negative information on my credit report except experian, how will this affect me when equifax and transu scores are over 700 and my other experian bureau is in the very high 600′s. When I go to get a very nice car (which of course I can afford) how will this effect me, will it keep me from getting a car since my experian is significantly lower than my other two, which are plenty good enough to get approved???
I don’t want anybody telling me stuff abou tcredit scores I already know, I just want my question answered, my score is well over 700, the point i was asking about was not to go to this or that website and find out the stuff affecting my score, i’m on top of that already, i don’t need that kind of advice, i just want the answer to my question, i’ve already been told that with my equifax and transunion scores that i can get whatever i want because of my debt to income ratio, ok???

Elsie

Any credit experts out there?

Rona9 asked:


What is the best way to dispute wrong entries on credit report?
How long does it take?
Should I do it with all three bureaus or just one?
Can it be done by phone?
Any advice?

P.S. I have a broken lease plus phone service from the address I have never resided at….

Ana

Free yearly credit report: keeps check on your financial transactions

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Alma

An auto loan to improve credit?

rjon17469 asked:


I’m currently 22 and am a senior in college (although I’m going for one more year and then possibly grad school). I would like the possibility of being able to buy a house in two to three years, and therefore am looking for ways to improve my credit. I opened a credit card ~9 months ago with a $3,000 limit. Currently the limit on it is $4,500, all payments have been on time, and the balance is my previous month’s purchases (around $100).

In reading, many people recommend having either one or two revolving credit lines, and one or two fixed credit lines, for a total of three lines of credit. My credit card is one revolving credit line. I’m curious if taking out say a four year auto loan and making payments on time would substantially improve my credit score three years from now. The loan amount would likely be $7,000 to $8,000, giving monthly payments of around or under $200, which I can realistically afford. I’ve been paying my own college tuition and rent since the second semester of my freshman year of college, so I somewhat have of a grasp of my expenses.

On a side-note, I’m under the impression that I would be stuck with the interest rate I initially receive. I could refinance, but wouldn’t that close out the line of credit and begin a new line of credit, potentially lowering my score?

The follow-up questions are, would it be in my best interest to open a second credit card for additional feedback on my credit history? Also, I currently have a good amount of student loans, all of which are in deferment until I graduate (if I attend grad school, they will remain in deferment through that period). Do these loans count towards my credit score as fixed lines of credit? Some are federally-funded, while others are through private institutions.

For what it’s worth, Credit Karma reported my credit score at 722 as of a week ago, and TransUnion reported it at 764.

Viola

How To Interpret Your Free Credit Report?

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Roy
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