Shawn Lane Consumer Credit Expert Bankruptcy has its pros and cons. Chances are that you considered the facts, weighed your options, and did not choose to file bankruptcy lightly. Although bankruptcy can certainly hurt your credit, filing for bankruptcy does not mean that you have to be stuck with horrible credit forever. There are steps that you can take to …
How Co-Signing Impacts Your Credit
Shawn Lane Consumer Credit Expert Most credit questions asked of me can be answered exactly the same. “It depends…” Question: How will an inquiry impact my credit? Answer: “It depends” Question: How will opening a new credit card impact my credit? Answer: “It depends” Asking how co-signing impacts your credit is no exception. The effect which co-signing for a loved …
3 Steps to Overcome Identity Theft
Shawn Lane Consumer Credit Expert Identity theft isn’t a 4-letter word, but it probably should be. If you have ever been a victim of identity theft then you are sure to agree. It is a scary unsettling crime, which can haunt you for many years, unless you take control of the situation. What Is Identity Theft? Identity theft occurs whenever …
Your Rights According to the Fair Credit Reporting Act
Shawn Lane Consumer Credit Expert As consumers, there is a lot about the world of credit reporting which feels unfair. For starters, the fact that the credit bureaus are permitted to collect information about you, compile that information into reports, and sell your information to others for a profit – all without any permission being required from you – can …
4 Credit Mistakes You Can Teach Your Children to Avoid
Shawn Lane Consumer Credit Expert As a parent, you are responsible for teaching your kids many different important life lessons. When they are young, you help them learn how to walk and talk. A few years later, you start teaching your kids about reading, writing, and arithmetic. Yet somewhere between lessons about the golden rule and the sex and drugs …
How a Good Credit Score Can Improve Your Life
Shawn Lane Consumer Credit Expert There is no sugar-coating the fact that life can become a lot more complicated whenever you are faced with credit problems. Sure, you can get by with bad credit and low credit scores, but living like that can be expensive, not to mention stressful. On the other hand, when you work hard to rebuild your …
Why Your Credit Score Suddenly Dropped by Over 100 Points
Shawn Lane Consumer Credit Expert In my line of work, I am asked questions everyday like this one I received last week: “Shawn, I have been working hard for a while now hoping to raise my credit scores. I was making good progress, but when I logged into my credit monitoring to check my credit this month I found out …
Does Credit Repair Work?
Shawn Lane Consumer Credit Expert 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 …
Credit score confusion….Why are all my credit scores different?
Shawn Lane Consumer Credit Expert 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 …
Why Millions of Tax Liens and Judgments are Disappearing from Credit Reports
Shawn Lane Consumer Credit Expert 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 …