Kern County Credit Consultants

Behind the Scenes: The Online Credit Dispute Process. If there is adverse, misleading, or inaccurate reporting, you need to dispute with a credit bureau and you are considering using their online dispute process. Think again; at first glance, the online disputing system appears to be a benefit. This particular method supposedly was created to "Help" consumers the only advantage to you is the ease and convenience of notifying them of your dispute. The automated dispute sys...tem allows you to log onto their dispute site then enter the information regarding the derogatory item. Your dispute then is converted into a three-digit code; this code is then forwarded to the credit bureau for investigation. The fact is disputing items online is a significant disadvantage to you In reality, what it does is strip you of your legal rights. Instead of providing a written request directly to the reporting agency. The Federal Fair Credit Reporting Act imposes a 30day time limit for a credit bureau to begin, end, and provide you the results of their investigation. Therefore, If the nature of your dispute has not complied with within the time allowed, it must be removed. Using the automated system makes it very easy for the credit bureau to respond within the time allowed and respond without having to do a full investigation. Using this convenience does not create a paper trail allowing you to monitor the details of the investigation. This results in your inability to follow the process and document any non-compliance, negligence, or unwillingness to assist needed to pursue any legal action if necessary. NOTE: Credit Bureaus are not getting paid to perform an investigation. See more

What is the statute of limitations regarding debt ??? If, you ever had to default a debt with a creditor, when does the statute of limitations begin and end? Each state has a statute of limitation that limits how long a creditor or debt collections company can sue you for the debt. In California, a breach of a written agreement for a credit debt is given for years from the last day you were unable to make your payment. This is when the debt clock starts. You can determine thi...s by reviewing your credit report. It's not the date the account opened. Nor the date it was assigned to a collection agency or sold to a debt buyer. If you're served by a debt buyer trying to sue you, determine if the statute of limitations has expired. You then inform the court of the SOL(Statute Of Limitations) as an argument against the lawsuit. Remember, there are two different dates regarding debt. The statute of limitations is 4 years. The law of reporting it on your credit is 7 years. Both begin on the last day of activity. See more

Is Opening A Bank Account A Soft or Hard Inquiry? This depends on the bank or credit union you’re interested in opening the account with. Most banks simply will do a soft pull on your credit report to insure your identity (this doesn’t affect your credit score at all), however some banks especially those who offer you a line of credit such as (overdraft protection) will do a hard pull on your credit file. This type of inquiry can remain on your credit history for 2 years.

How Are Judgments Collected? This varies depending on the state the judgment was issued. There are some states that allow personal property to be to be taken to settle the Judgment. Step one: a creditor will first send a levy to your bank freezing funds to collect for payment. ... Step two: If you are a wage earner, they will serve your employer a legal order for garnishment and can take up to 25% of your net wages until the judgement is paid. Your employer is legally required to comply to this order. They must also immediately notify in advance it was received. Call us if you have any questions we can help you with regarding anything further on judgments. 661-324-9920

How Does a Creditor or Collector Get a Judgment Against You? To obtain a judgment against you, a creditor or collector will assign it to an attorney office whom will file it with the court. Then pay to have you served the copy of the complaint filed requesting you don’t respond to a summons, if this is ignored you could lose the case by default giving the creditor or collector permission for the court to issue a judgment in their favor. It then will be filed as a public record item.

How Does a Judgement affect my Credit? A creditor securing a judgment against you is not good thing. A judgment results in a legal obligation to pay a debt. Judgments can be appealed, reversed, amended, or even, settled for less. The ultimate outcomes will depend on the circumstances and what steps you take. First step you may want to consider contacting a Credit Expert or an Attorney. Ensure the consultation is free.

Opting out Opting out refers to a method where you choose NOT to have your information such as address, employment, date of birth, and phone number sold by a credit bureau. Unfortunately this does not have a direct affect on your credit score however opting out does help in regards to previous addresses showing on your report which in turn can effect the accuracy of the information being reported. POINT MADE: IT IS ADVISED TO OPT OUT WHEN GIVEN THE OPTION!

Requesting a credit line increase Increasing your credit limit can also help you obtain a lower overall credit utilization rate (assuming you spend the same amount), as the total amount of credit you have available is increased. This is an important scoring aspect factor used in credit scores.

About 65% of consumers carried an unpaid balance in the past 12 months.About 65% of consumers carried an unpaid balance in the past 12 months.

Just a few companies that are offering free access to your "true FICO score" For a list of all of them, contact our office.

1 in 10 people in debt are unable to make payments on time. The average consumer spends 3.5 hours a day worrying about debt.

Over 90% of Americans have no idea what their rights are under Federal and State credit and collection laws.

Americans spend over 70% of their gross income every year repaying debt, home loans, auto loans and credit cards. If you want more information on the most efficient way to pay down your debt, come see us at 7440 Meany ave Ste. B. www.kccc-credit.com.

Applying for a loan? Age discrimination? YOU TELL ME. The actuarial tables know for sure: In the credit scoring game, those individuals under the age of 25 score the lowest prospective. Consumers in their 40s score highest and the most desirable to lend to in the eyes of the credit grantors.