John, I filed bankruptcy 7 years ago. I heard that bankruptcies have to be deleted after 7 years but it’s not. Are the credit bureaus breaking the law? Answer, No the credit bureaus are not breaking the law. Chapter 7 bankruptcies can remain on your credit files for 10 years from the date filed. Chapter …
How Long Does a Bankruptcy Remain on a Credit Report? Read More »
John, Thanks for your informative website. My question relates to your post about how IRS will remove a tax lien from your credit report if you pay off your debt to them in full. My question: I have a “State Tax Lien” that is filed on my credit report. Does this still fall within the …
John , I have a 670 FICO score. Is that good? What’s a good score to have? Beverly Answer – Beverly, a 670 FICO score used to get you anything you wanted, about 5 years ago. Today it doesn’t get you much. 750 is the new “black” so you’ve got some work to do. Anything …
John, Should I try to get old inquiries off my credit reports? Answer, Inquiries only count in your scores for the first 12 months they’re on your credit reports. So, if your inquiries are older than 12 months you’ll be wasting your time. There won’t be any sort of score benefit if you’re able to …
How Can I Get Inquiries Removed From My Credit Reports Read More »
Hi John, ok, what’s the real deal about credit reports? How many do I have? Beverly The Answer, Bev you’ve just identified one of most prevalent myths about credit reporting. The general consensus is that you have 3 credit reports, one each from Experian, TransUnion and Equifax. That’s incorrect. You actually have 4. Add Innovis …
John, My date of birth is on my credit reports. It’s not hard to determine my age. Do creditors look at that and do credit scores look at that? Answer You’d be surprised to learn that considering your age is NOT illegal or prohibited. Think about your insurance premiums…they are certainly determined by your age, …
John I closed a Platinum AmEx because the unlimited credit limit actually shows up on my credit report as $0 credit. I opened an AmEx Blue account instead. Was that a good move? Answer If your goal is to get an account on your credit report that actually helps your revolving utilization percentage then yes, …
Should I Replace a Credit Card That Doesn’t Have a Credit Limit Read More »
Hi John Last yr Cap One sent me statements on two accounts saying I owe money. I thought I settled these accounts and even made electronic payments but without a settlement letter. I had not heard from Cap One for almost 4 yrs and now they have added interest to the amount they say I …
