You have likely heard about the recent massive data breach at the Equifax credit reporting agency that affects the personal information, including social security numbers, of as many as 143 million Americans. We recommend that you take the following steps: How to protect yourself from the Equifax Data Breach First, check all of your credit
Francis Mailman Soumilas, P.C. won a major lawsuit in June against TransUnion with $60 million on the line. TransUnion violated the Fair Credit Reporting Act when credit checks confused consumers with other individuals found on the United States Treasury Department’s Office of Foreign Assets Control or OFAC’s “blocked list.” The list includes terrorists, arms dealers,
The Fair and Accurate Credit Transactions Act (FACTA) is an amendment to the Fair Credit Reporting Act that allows consumers to request a free annual credit report from three credit reporting companies, Equifax, Experian and TransUnion. For an added fee, consumers can request a credit score with their report and information on how the score
You already know that you can lose a job because of errors on a background check, but errors on a credit report can also affect your employment. Background checks can often include your credit score; employers like to see what kind of financial risk their employees have. What’s good to keep in mind is that
Chip-based credit cards are the new way to make a card transaction. The chip supposedly provides a more secure way to complete the transaction and keep your financial information safe. It works by randomizing the data sent to the card reader, making that information valid for one single transaction, versus the swipe method that had
Look out: many consumers across the country receive phone calls from fake debt collectors. These phone calls could include demands on repaying a loan you never took out or an amount within a loan that wasn’t what you originally took out, among other situations. The Federal Trade Commission warns consumers like you to be wary
Most of these blog posts focus on how to recover from bad credit. But if there’s such a thing as bad credit, good credit also exists. When it comes to maintaining good credit, there are a few things to keep in mind or else your credit score may lower. Avoid these four things in order
It may seem like a dream come true when a company offers an easy, quick solution to repairing bad credit. Be wary; some credit repair companies scam consumers, leading to more repercussions than simply having a bad credit. What does a scam look like? Any kind of advertisement mentioning a “new credit identity” with a
In September, Wells Fargo employees were caught secretly creating millions of unauthorized bank and credit card accounts since 2011. These accounts gave the bank an increase in its sales figures and profit. What Happened? According to the Consumer Financial Protection Bureau, employees enrolled their customers in online banking services by creating fake PIN numbers and
Credit Report Errors can devastate and cost you big time! Credit report errors can lower your credit score. A low credit score can result in higher interest rates on your credit card bills, home mortgage, and student loans, denial of loan and credit offers, and affect your U.S. government clearance. Background check errors can result