Credit card balances, medical bills, student loans, and old judgments can accumulate. According to Federal Reserve data, credit card balances remain the most widely held form of family debt, and defaults are rising. On top of that, many banks, debt-buyers, and collection agencies operate on assumptions that you won’t defend yourself. As we noted before,…
When a debt collector comes calling, fear and confusion follow. Many consumers believe they have no choice but to pay whatever is demanded, even when the debt might not be accurate, enforceable, or legally collectible. The truth is, debt collection defense is full of myths that work in favor of collectors and against everyday people….
Credit card fraud can strike anyone, and when it does, you expect your bank to be your ally. But what happens when your bank refuses to help? That’s exactly what one Maryland consumer experienced, as documented in the 2024 Consumer Complaint Survey Report. There’s a growing need to protect everyday people from financial institutions that…
You did everything right. You spotted an error on your credit report. It may be a delinquent account that isn’t yours or a loan you never took out. You followed the proper dispute process, submitted the documents, and waited patiently for the credit bureaus to fix it. But the error stayed. If this sounds familiar,…
In a recent development, the Consumer Financial Protection Bureau (CFPB) issued an order against Citibank, N.A., demanding the payment of $25.9 million in fines and consumer redress for intentional and illegal discrimination against American citizens, specifically credit card applicants identified as being of Armenian descent. This alleged discriminatory practice spanned from 2015 through 2021, involving…
If you want to shield yourself from identity theft, you might be considering a security freeze and/or a credit lock. In this article, we will explore the differences between these two measures; by understanding their features and limitations, consumers can make informed decisions about their credit protection needs. Security Freeze: Your Statutory Right. A security…
Every year, the nationwide consumer reporting agencies (NCRAs)—Equifax, Experian, and TransUnion- receive tens of thousands of complaints regarding incorrect information on consumer credit reports. And, every year, the NCRAs attempt to solve their communication/operational problems with new policies that sometimes work and sometimes make no significant difference. Recently, the Consumer Financial Protection Bureau released its…
Are credit repair companies legit with their business conduct? Generally, no. Some credit repair companies are outright scams that take your money and give you nothing in return. Others may first appear legitimate but also tend to generate a lot of unhappy customers because their service doesn’t live up to their marketing. If you’re considering…
Your credit report contains important information about your financial history and ultimately paints a picture of your financial habits, both good and bad. Unfortunately, this makes it vulnerable to potential errors that can negatively affect you. A poor or inaccurate credit report can make it difficult to borrow money, qualify for a loan, get a…
Being a victim of credit fraud is a stressful and extremely inconvenient experience. It feels very invasive to have your personal information available to strangers and subject to abuse. Credit reporting errors are one of the clear indicators that someone has or had access to your information and has potentially abused credit in your name….
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