CreditNet FAQ proposals

Discussion in 'Feedback' started by Nave, Mar 18, 2002.

  1. pbm

    pbm Administrator

  2. Nave

    Nave Well-Known Member

    06-17-02

    Added:
    Erica - Re-Insertion letter
    Lizardking - lawsuit template
    PBM - CHAT information
    Butch - Chargeoff information
    Erik776 - OC and settlement information

    -Peace, Dave
     
  3. Nave

    Nave Well-Known Member

    Also added NanaC's post BK credit card thread.
     
  4. CredtQuest

    CredtQuest Well-Known Member

  5. Nave

    Nave Well-Known Member

    Thanks CQ, added

    ...also

    added Proper Validation response
    updated Credit Watch desctription (service/price change)

    -Peace, Dave
     
  6. LKH

    LKH Well-Known Member

    Dave,

    You might consider adding to the credit monitoring section that with Creditwatch, you can get an updated report only every 24 hours, although you can review older reports anytime.

    With Creditexper, you can get an updated report as many times a day as you like, but you can't review older reports unless you save them to your computer or print them out.
     
  7. Nave

    Nave Well-Known Member

    Thanks LKH - Done.
     
  8. Nave

    Nave Well-Known Member

    Added:

    Good Will Adjustment
    Best way to quick score increase
    updated FAX #'s
    some more FTC links

    -Peace, Dave
     
  9. Pat

    Pat Well-Known Member

    Nave,

    Some updates to the Credit Monitoring section:
    ------
    TransUnion:

    Identity Guard is now $39.95 for 6 months then 9.99 a month after.

    From their site: Offer valid for 6 months of service at $39.95. Thereafter, $9.99/month automatically billed to your credit card unless you cancel.

    And as far as I'm concerned it's still trash.
    ------
    Privista (Equifax):

    Is now 49.95 a year after the 30 day free trial. If you are referred by an existing member, you get $20 off and the member gets 3 months for free. If you need a referal, start a post on Creditnet asking for one.

    The score is no longer 0-100, from the Privista web site:
    This score is based on the information in your Equifax credit file and is calculated by CreditXpertTM, the industry's leading credit-analysis service. Credit scores fall between 350 and 850.

    You can get notifications on the following:

    Fraud alert
    This alert should appear only after you've instructed a credit reporting agency to place a fraud alert on your credit file in response to suspected fraud. Only you are legally allowed to demand such an alert, which prevents credit from being granted.

    ID alert
    This pertains to unclear information regarding your Social Security number and/or address in your Equifax credit report. At times, applications for credit may contain addresses that are non-residential or Social Security numbers that are not valid. You may want to clarify these items with the credit reporting agencies. This type of activity may indicate that someone is trying to apply for credit in your name.

    SSN change
    This alert appears when your Social Security number has been changed, possibly helping someone open accounts and apply for credit in your name. The alert may also result from an error on a credit or loan application, however.

    Name change
    This alert appears when your primary name has been changed, possibly helping someone use your information to open accounts and apply for credit. The alert may also result from marriage or the use of name variations, however.

    Alias reported
    This alert indicates that an alias has been added to, removed from, or changed in your credit file. An alias, which does not in itself affect your credit rating, is one means by which someone can assume your identity. A creditor's report that uses your nickname -- Jim Smith instead of James Smith, for example -- may also cause an alias alert, however.

    Account inquiry
    Also known as a hard inquiry, this alert appears when someone has accessed your credit file. No one may legally do so without your consent or a legitimate business purpose such as the evaluation of an application for credit, employment, or insurance. An inquiry from an unfamiliar party may indicate identity theft or credit fraud.

    Account opened
    This alert appears when an account has been opened in your name. An unfamiliar account may indicate identity theft or credit fraud.

    Account removed
    This alert is generated when an item is removed from your credit record. An account is typically removed 7 to 11 years after the last reported activity on that account. The removal of a delinquent account may increase your credit score.

    Account status change
    This alert indicates any of a number of reported changes to the current status of an account. These changes, which do not in themselves usually indicate identity theft or credit fraud, include added users, late payments, inactivity, bankruptcy protection, and missing or unavailable information. See the full list of possible changes for a complete listing.

    Account past due
    This alert indicates the amount that has been reported as overdue for a particular account. An inaccurate overdue notice may indicate identity theft.

    Change of address
    This alert appears when the address reported in your credit file has changed, possibly indicating identity theft.

    Public record
    This alert indicates that an item of public record, such as a collection, a bankruptcy, a tax lien, or a change in marital status, has been added to or removed from your credit file. An inaccurate record may indicate identity theft.

    Credit record change
    This alert appears when an active credit record is satisfied, dismissed, or otherwise updated. An inaccurate record may indicate identity theft.

    $ Balance change
    This alert appears when one of your revolving account balances exceed the previous week's balance by the amount you have chosen. An unexpectedly large change may indicate identity theft or credit fraud. The default value is $200, but you may set your own limit.

    % Balance change
    This alert appears when one of your revolving credit balances exceed the previous week's balances by the percentage you have chosen. An unexpectedly large change may indicate identity theft or credit fraud. The default value is 2%, but you may set your own limit.
    ------
     
  10. Nave

    Nave Well-Known Member

    Pat that is fantastic. Thank you for the information and help. I will update the FAQ this weekend.

    -Peace, Dave
     
  11. Nave

    Nave Well-Known Member

    Updated...Thanks again Pat that was awesome.

    Anyone with "CreditExpert" or any other monitoring systems are encouraged to offer some revisions or other input for this section.

    -Peace, Dave
     
  12. Maggie75

    Maggie75 Well-Known Member

    George posted a slide that was part of the link, and it lead me to the whole document.

    I found the link helpful for understanding more about scoring, especially comments and explanations by Pete McCorkell, Senior Vice
    President and General Counsel of Fair, Isaac and Company. There were also comments by different mortgage lenders that I found very enlightening.
    http://www.ftc.gov/bcp/creditscoring/creditscorexscript.pdf[/url]
    PUBLIC FORUM: THE CONSUMER AND CREDIT SCORING
    July 22, 1999
    Matter No. P994810
    Federal Trade Commission
    Room 432
    600 Pennsylvania Avenue, NW
    Washington, DC 19


    There are slides on inquiries and why certain ones are shown as duplications and do not impact your scores. You can arrow over to the next slide or back.
    http://www.ftc.gov/bcp/creditscoring/present/sld034.htm
    Inquiry Dedupe and Buffer period


    info on concept of why you fall into either one scoring model or the other, dependent upon whether or not your CRA report answers yes or no to query of "[previous serious delinquency or deragatory public record] and comments about why the same score can mean two entirely different thing depending on which model you are in

    http://www.ftc.gov/bcp/creditscoring/present/sld036.htm[/url]


    and
    http://www.ftc.gov/bcp/creditscoring/present/sld024.htm
    5 areas of scoring and examples for each category


    I know the 300page missive is a lot of fluff along with some good information and commentary, but I got a lot by reading it.
     
  13. Nave

    Nave Well-Known Member

    Thanks Maggie,
    Good Stuff...I will include that in the scoring question section.

    -Peace, Dave
     
  14. Nave

    Nave Well-Known Member

    Finally had some time to add Maggie's post (above)

    Updated the Nutcase Rationale post with a LINK to a newer post about the process

    Also added PsychDoc's Credit Repair Primer (great stuff thanks Doc)

    -Peace, Dave
     
  15. Nave

    Nave Well-Known Member

    Updated:

    Added URL VB code to the VB section

    Removed erroneous Experian Fax #
    Added Experian Customer Service contact #
    (Quixote)

    Added Erik776 post on Scoring information

    -Peace, Dave
     
  16. Nave

    Nave Well-Known Member

  17. humblemarc

    humblemarc Well-Known Member

    How about a list of CC that blacklist you after chargeoffs and bankruptcy, and how long it takes if they let you back?

    humblemarc
     
  18. Nave

    Nave Well-Known Member

    Do you have reference to such a thread, or should I make it up :))

    Marc, why don't you post a thread covering that topic. After you post the thread, post a link to it here and I will reference it from the FAQ.

    Thanks for the suggestion.

    -Peace, Dave
     
  19. learnmore

    learnmore Well-Known Member

  20. Nave

    Nave Well-Known Member

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