MMG Credit Scores and Credit ReportsMMG的信用评分与信用报告.pptVIP

Credit Scores and Credit Reports –How the System Really Works, What You Can Do Sue Woodard – Mortgage Market Guide with Credit Expert Evan Hendricks Evan Hendricks Author of Credit Scores and Credit Reports – How the System Really Works, What You Can Do Regular Presenter at Federal Trade Commission Trade Workshops Qualified at Federal and State Levels as Expert on Identity Theft Court Cases Credit Score Model Scores are Somewhat Counter Intuitive 30% Based on Balance to Limits Individually and Cumulatively Balances Normally Reported Month End Closing Accounts Could Hurt Scores Recent Negative Information Damaging Paying Off Five Year Old Charge Off Becomes Recent and Could Damage Credit Rating What Can Consumers Do? Difficult To Get Permanent Removal of Info Keep Balances Low to Limits Some Credit Issuers Don’t Issue Limits Dispute All Bureaus to Get Issuer to Report Monthly Accounts Like American Express Will Demonstrate High Balance Over Time Review Personal Credit Reports Regularly Annual Credit Reports New Federal Law Provides for Annual Credit Reports Available Annually, Quarterly Unlike Fee Based “Free” Credit Report Services Mortgage Professional Can Supply Credit Reports for Review Rapid Re-Score Independent Credit Re-Sellers Can Provide Updated Scores Based on Corrected Information Most Re-Sellers Part of NCRA or National Credit Reporting Association Potential Increases of 20-100 Points Cost Ranges From $75 to Several Hundred Dollars Based on Trade Lines Involved Credit Repair Companies Veracity Credit – Denver Credit Resource Corp. – L.A. Companies Specialize in Removal Fees Vary – Set Up Fees plus Monthly Maintenance Fees Credit Repair Tactics Disputes Must Be Answered Within 30 Days – “Bombardment” Method Sometimes Yields Results If Accounts Shown as Disputed – Removed From Score Models Till Resolved Credit Grantors Can Provide Quicker Response Than Credit Reporting Agencies Always Get Name, Extension, Expected Date of R