Shawn LaneConsumer Credit Expert Good credit is a lifelong journey. It’s not something you can work to earn and then forget about once you reach your goal. Just like you need to constantly take care of your health by eating right and exercising, your credit requires constant attention. Learning good credit habits is a great place to start. However, it’s …
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 …
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 …
Getting Your Credit in Shape to Buy a Home
Shawn Lane Consumer Credit Expert 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 …
4 Costly Credit Mistakes to Avoid
Having a good credit score is so important today. Good credit scores get you lower interest rates, higher borrowing limits, lower insurance premiums, better quality rental properties, and even the American dream of home ownership! Good credit does not just happen – you have to earn it!
Credit Monitoring – What it is and why we need it!
Shawn Lane Consumer Credit Expert Credit monitoring is a service that keeps watch over our credit reports and scores so we know where we stand each and everyday. It is very important to know our credit situation BEFORE we apply for any new credit! We have all heard the stories. Your car dies so you go to the dealership to …