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 …
Don’t Fall for These Credit Myths!
Shawn Lane Consumer Credit Expert The world of credit is overflowing with myths and plain bad advice. Unfortunately, when it comes to your credit, believing the wrong myth could really hurt you. Before you blindly follow the advice you received from your well meaning loved one or the credit tip you read online from your favorite financial “guru”, it might …
Break Down Your Credit Report: Understand What’s Inside
What Is a Credit Report? A credit report captures the financial behaviors lenders care about most. It is a detailed record of how you’ve borrowed and repaid money over time. Credit bureaus—Equifax, Experian, and TransUnion—compile this data from creditors, collection agencies, and public records. Each report may vary slightly, but all collect similar categories of information. Core Components of Your …
Buying a Home With Less Than Perfect Credit
Shawn Lane Consumer Credit Expert Is your goal to purchase a home in the near future? If so, there is a checklist of qualification standards you are going to need to meet before a lender will approve your mortgage application. Among other requirements, this checklist includes proof of steady employment and income, acceptable debt-to-income ratios (can you afford a new …
How Long Can Negative Information Stay On a Credit Report?
Shawn Lane Consumer Credit Expert Having bad credit hurts. It can make life miserable and stressful. It can harm you financially, it can damage your marriage, and it can stand in the way of providing the type of life for your family which you desire. Bad credit certainly is not any fun, but the good news is that bad credit …
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 …
4 Common Credit Mistakes to Avoid
Shawn Lane Consumer Credit Expert 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 …