Posts by Shawn Lane

Does Credit Repair Work?

Posted by on Aug 19, 2017 in Credit Reports, Credit Scores, and More! | 0 comments

Does Credit Repair Work?

Unless you have been living on a deserted island for the last few decades, you have probably heard the term “credit repair” at least once or twice. If you are facing credit problems of your own, you may even find yourself wondering if professional credit repair services might be able to help you improve your current situation. After all, bad credit can not only be embarrassing, it can also make life miserable and lead to a lot of wasted money. The desire to improve your credit is not only natural, it’s extremely wise. Of course, you may still have a lot of unanswered questions about credit repair, how it works, and if it’s the right choice for you. Keep reading to learn more about the advantages of credit repair and to help educate yourself with the information you will need to make an informed decision. Credit Repair Defined Before we proceed any further, it is important to understand exactly...

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Credit score confusion….Why are all my credit scores different?

Posted by on Aug 3, 2017 in Credit Reports, Credit Scores, and More! | 0 comments

Credit score confusion….Why are all my credit scores different?

Why your lender’s credit scores look so different from the scores you pulled online The credit world is positively full of myths and misconceptions. One such misconception is the idea that you have only one credit score (or even one credit score from each of the 3 credit bureaus). In reality, nothing could be farther from the truth. Have you have ever had a lender pull your credit as part of an application for financing and then compared those scores to the credit scores you pulled online yourself? If so, then you are already well aware of the fact that the 2 types of credit scores (lender and consumer) are often very different. Hundreds of Credit Scores You may find it difficult to believe, but the truth is that you actually have hundreds of credit scores. If this seems extreme to you keep reading and you will understand how this is possible. The primary purpose of credit scores is...

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Why Millions of Tax Liens and Judgments are Disappearing from Credit Reports

Posted by on Jul 7, 2017 in Credit Reports, Credit Scores, and More! | 0 comments

Why Millions of Tax Liens and Judgments are Disappearing from Credit Reports

Have you ever heard of NCAP (the National Consumer Assistance Plan)? If not, it’s an acronym you should probably learn more about. NCAP is responsible for the introduction of a number of new consumer friendly practices at the 3 major credit reporting agencies – Equifax, TransUnion, and Experian – including the forthcoming removal of a large number of tax liens and judgments from consumer credit reports this month (July 2017). What Is NCAP? If you are unfamiliar with the National Consumer Assistance Plan, here is a crash course. Several years ago, the 3 major credit reporting agencies (CRAs) entered into a settlement agreement with 31 state attorneys general and NCAP was born. NCAP brought about some huge credit reporting changes, which were slated to be rolled out over a 3 year period between 2015 and 2018. As mentioned above, the NCAP is the driving force behind the upcoming credit reporting changes which millions of consumers will experience this summer....

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4 Common Credit Mistakes to Avoid

Posted by on Jun 20, 2017 in Credit Reports, Credit Scores, and More! | 0 comments

4 Common Credit Mistakes to Avoid

Knowing what not to do can be just as important as knowing what you need to do when it comes to your credit. Even if you have worked hard to establish good credit, the wrong slip-up has the ability to undo much of your hard work. Thankfully you have the opportunity to learn from the missteps of others and hopefully avoid tripping over some of the same credit potholes yourself. Keep reading to learn about 4 common credit mistakes, which you should try to avoid. Mistake #1: Paying Late The idea that your credit scores are completely based upon how timely you pay your bills is a bit of a myth. Yet it can be truthfully stated that you will never be able to earn great credit scores unless you develop the habit of keeping your bills paid on time, all of the time. Even the occasional late payment can cause severe credit score damage. In FICO’s credit scoring...

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Getting Your Credit in Shape to Buy a Home

Posted by on Jun 9, 2017 in Credit Reports, Credit Scores, and More! | 0 comments

Getting Your Credit in Shape to Buy a Home

Dreaming about buying the perfect home? If so, then you may have already picked out your favorite neighborhoods and floor plans. You might have imagined exactly how you will decorate each room in your new home or you may have plans for a beautiful outdoor retreat in your back yard. However, if you have not yet considered how to get your credit in the best shape possible for your mortgage application then you have skipped a very important step. Your credit reports and scores will have a huge impact upon your ability to qualify for a mortgage. Plus, even if your credit is strong enough to qualify, those reports and scores will continue to have an influence over your rate and monthly mortgage payment. Credit problems could potentially cause you to waste tens of thousands of extra dollars over the course of a 30 year mortgage loan. Now that we have established why the condition of your credit is...

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    6401 W. Eldorado Parkway, Suite 122
    McKinney, TX 75070
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Renovating your Credit and your Lifestyle

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