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How does cosigning affect your credit? Does it show as a debt?

July 18, 2016

When you co-sign for a loan, you are saying that if the person you are co-signing for doesn’t pay the debt, you will. That loan will appear on both...

Can you tell us about the Fair Credit Reporting Act?

July 18, 2016

The Fair Credit Reporting Act regulates the consumer reporting industry. Credit reporting companies are just one type of consumer reporting company regulated by the FCRA. However, the law is...

How would you get your credit score to improve?

July 18, 2016

There are two main things everyone must do in order to have good credit scores, regardless of the credit scoring model being used. The first is to pay all...

Is it illegal for a collection agency to change the amount owed?

July 18, 2016

The collection company can’t change the amount originally owed, but they can legally add additional interest or fees to that amount. Therefore, you may see a higher amount owed...

How long will a new car inquiry stay on my credit report?

July 18, 2016

All inquiries stay on your report for two years from the date of the inquiry. However, you can shop for the best rates and look for the best lending...

Can you have a creditor removed if they can’t produce verification of the debt?

July 11, 2016

You can dispute the information if you believe it is inaccurate, and if you have documentation that the debt is not yours, you should upload that as part of...

How do you remove child support once it’s paid in full?

July 11, 2016

Once the child support is paid in full the record should be updated to show “satisfied”. It is up to the legal authority in the state to remove the...

Is it legal to have bankruptcy on your credit report?

July 11, 2016

Declaring bankruptcy is a court proceeding and is one of the public records that will appear on your credit report. Credit reports will show when you declared bankruptcy, the...

If you apply for two credit cards in the same month, will it affect your credit score twice?

July 11, 2016

When you apply for a credit card an inquiry will be added to your credit report. An inquiry is simply a record that a lender has looked into your...

What books do you recommend on credit usage?

June 11, 2016

We can’t endorse any specific books, but there are a lot of great authors and great bloggers. We write the Ask Experian blog which talks about credit reports and...

Is it true that you should only use 30% at a time to have good credit?

June 11, 2016

Credit scoring companies have said your debt-to-limit ratio, known as your “utilization rate”, should never exceed 30 percent of the credit limit. What this means is that you don’t...

What’s the perfect credit score you can have?

June 11, 2016

It depends on the scoring system. There are many different scores and all have different scoring scales. Some go to 850; others may go to 920 or 950. The...