Category Archives: Credit Reports

How come paying off “old debt” makes my score go down?

I hear this statement at least once a month.  Usually, right after a client has attempted to purchase a “big ticket” item such as a home and realized that they had a pesky bill from 5 years ago that in all likelihood (let’s face it the big 3 don’t have great track records) is not

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Credit History

Credit History   Credit history or credit report is a record of an individual or company’s past borrowing and repaying, including information about late payments and bankruptcy. The term “credit reputation” can either be used synonymous to credit history or to credit score.   In the U.S., when a customer fills out an application for

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Building Credit

Secured Loans – Go to any bank or credit union, preferably the bank you already have a checking and/or savings account with. Banks operate differently. The most common secured loan is you (the borrower); giving the bank, (the lender); money, or the title to one of your assets (vehicle, equity or claim to your possessions

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