The Social Media Test – Will You Pass?
If you are currently looking for employment or considering applying for a new job, you must consider your history – all of it. Gizmodo took 6 of its employees and had Social Intelligence run background checks. Social Intelligence uses your Internet and social media history to run background checks. You should check out your credit […]
Fixing Your Credit Score After Disaster Strikes
If your credit score took a beating because your house went into foreclosure or you filed for bankruptcy, do not despair. The good news is that a bad credit score is not permanent. It can be fixed. It can take 7-10 years for improvement, but it might be faster if you are proactive. If you […]
New Credit Scoring Model Could Help Millions
What is FICO and how does it help my credit score? FICO is Fair, Isaac and Co., founded by engineer Bill Fair and mathematician Earl Isaac in 1956. It was created to help department stores and gas station chains decide when to extend in-house credit cards to customers. FICO has become the benchmark of the credit […]
What’s On Your Credit Report? Man Fired Due to Erroneous Info
Leonardo Molina worked at a Roskam Baking Co. through a temp agency. He earned a permanent job, but after 2 days he was terminated. The temp agency did not want Mr. Molina back. The problem was that his background check showed that Mr. Molina was convicted of a 2007 felony in Florida. Later Leonardo Molino […]
Expanding Credit Checks Beyond Scores
It used to be that you when you took out a loan or applied for a store credit card, the lender would check your credit score. Today, the credit checks go beyond the score. The major lesson that lenders have learned from the recession is that traditional credit scores do not determine the whether or […]
Maryland Makes A Push for More Proof In Debt-Collection Lawsuits
Marquis Jones has been sued by a debt collection company for a credit card that she does not believe she owes. The firm never proved she did own the debt. But Jones was never given notice of the lawsuit. The collection company’s process server claimed her nonexistent “wife” accepted the summons. The county judge approved a […]
FCRA & Social Media: Important Information For Employers and Job Seekers
The Federal Trade Commission staff looked at a company selling background reports that include information derived from social media to see if they complied with the FCRA. The companies selling such reports have to comply that information derived from social media must comply with the FCRA. This means that the have to provide copies of […]
Children’s Identity Theft On The Rise
Why are children’s identity being stolen? First, identity from children is easier to abuse than adults. There are no guardrails or routine checkups for children’s credit. Thieves can build entire credit histories that go undetected for years. Second, a child’s credit report is like a blank slate. There is no good or bad credit attached […]
7 Steps to Clean Your Credit Report
Remember to check your credit report on a regular basis and not when you are trying to make big purchases. In case you find errors on your report, you need time to fix them. Here are seven steps to help clean your credit report. 1. Order a copy of your credit report You are entitled […]
Disadvantages of Co-Signing on Credit Cards and Loans
An elderly woman co-signed for her adult son on two credit cards and for a truck. Now the mother is stuck with $20,000 debt. What are her options? A 76 year old woman co-signed on two credit cards and a Toyota truck for her adult son. The son assured his mother that he would pay […]