Report Advice
What you need to know about this crucial financial document

Difference between “balance-to-limit ratio” and “debt-to-income” ratio

Dear Experian,

What is the appropriate balance-to-limit or debt-to-income ratio? I do not maintain a balance on my credit cards but worry that I have credit limits that are too high and could impact my overall credit.

– TBL

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Authorized user unaffected by mother’s missed payments

Dear Experian,

I am an authorized user on my mother’s account. Will it affect me if she misses payments? Will it hurt my credit?

– SHN

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Student loans are debt obligations like any other loan

Dear Experian,

My student loans are affecting my credit. Why?

– NCB

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Collection accounts are not removed immediately after being paid in full

Dear Experian,

If you have a derogatory record on your credit report from a collection agency and you pay off the debt in full, will the debt be taken off of your report sooner? Or do you still have to wait the seven years?

– MSK

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You must submit request in writing to permanently opt out of receiving prescreened offers

Dear Experian,

I received a letter from Experian today regarding permanently removing my name from pre-approved credit offer mailing lists. The letter is requesting name, Social Security number, current address, and previous address. I would like to permanently remove my name, but I am not sure that this letter is legitimate. Can you please confirm?

– SBA

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Debt discharged in bankruptcy continues to show in your credit report

Dear Experian,

How can a debt that was dismissed during a bankruptcy almost four years show up now on the credit report as derogatory? Can we appeal to have it removed from the credit report?

– MCH

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Utilization rate may be cause for lower scores when you have few accounts or low credit limits

Dear Experian,

I only have one debt which is less than $1,000. I also have two credit cards. Together they have a balance of about $2,000 each month, but I pay them off monthly. Why isn’t my credit score higher?

– KCE

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You might still owe on your mortgage after declaring bankruptcy

Dear Experian,

I want to know if I still owe my mortgage company after filing Chapter 13 bankruptcy. When I filed I was in foreclosure, and they said I owed $72,000. I paid that amount in full. Now the company is saying I owe $59,000 more. Does this sound right? I have my discharge papers from the courts.

– ARB

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Voluntary surrender of truck cosigned for during relationship could wreck credit scores

Dear Experian,

I recently co-signed for someone, and our relationship ended. They gave me the truck back and said they no longer wanted it. I have a car payment myself, so it will be hard to have two payments. I also am trying to save money to buy a house within next year. I have thought about voluntarily surrendering the vehicle. My credit has just recently improved. If I decided to do this would it ruin my credit to the point where I wouldn’t be able to get approved for a mortgage?

– CZC

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Correcting an address in your credit report

Dear Experian,

I need to dispute an incorrect mailing address on my credit file. What is the process to correct my address?

– FLR

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