People Come First At Our Consumer Rights Law Firm
As a consumer, you must be aware of how your credit and credit score can impact your financial worthiness and affect your everyday living. Without good credit you risk paying more for your credit cards, mortgage loans and insurance as well as risk getting a job. Experts say that despite the importance of your credit, only approximately two thirds of…
Your credit report and credit score are two different things. While consumers often refer to them as one and the same, they really are two separate items. While both items are related to your credit and financial worthiness, your report is a summary of your credit history and your score is a number assigned to your history based upon a…
If you are in the market to make a big purchase, open a bank account, apply for an auto loan, mortgage, credit card, insurance or even get a new job, then you need to be intimately familiar with your credit report. Your credit report is basically a sales pitch that tells lenders who you are, how you pay or don’t…
When reviewing a credit report, consumers need a basic understanding of the elements used to calculate a score. When using the Fair Isaac Corporation (“FICO”), the most widely used and well known credit scoring system, there are five different factors used to determine a score with each factor contributing a different percentage to your overall number. These five factors include…
If you have ever been denied credit, you might believe that lenders are not upfront about your reasons for denial. A lender must provide written notification when you are denied credit, and that notice must either provide the primary reasons for the denial, or advise you where you can mail in for those reasons. They must provide you a credit…
The average consumer has heard of the three major credit reporting agencies, Equifax, Experian and Trans Union. These big three credit agencies are responsible for gathering, storing and reporting your financial information for creditors, lenders, employers and other entities that are allowed to view it. But did you know that there are actually checking/banking account credit reporting agencies that are…
Recently, Washington D.C. joined the ranks among other states to pass the Fair Credit in Employment Amendment Act (“FCEAA”). The consumer minded act limits an employer’s inquiries into a job applicant’s credit report for use in making hiring decisions. The basis for this amendment was a belief that credit history cannot be linked to job performance and is not a…
For so many, the New Year is about starting over. A fresh start can include getting your finances in order. To begin this process, pulling a copy of your credit report for free should be at the top of your list. Under the Fair Credit Reporting Act (“FCRA”), the federal statute enacted to protect your consumer rights, you are entitled…
This past October, SmithMarco took on a matter at trial against debt collector Creditors Collection Service. We were victorious in proving our client’s case and recovering for her under the Fair Debt Collection Practices Act. Not satisfied with the result, the collector asked the court to overturn the jury’s verdict. The court refused, locking up this victory for SmithMarco and…
The New Year for so many is about resolutions and setting new goals for yourself, so why not put repairing your credit score at the top of your list? A good credit report can open many doors and provide new opportunities for you. If you are ready to take action and repair your credit, follow these steps for success and…