 I received a demand for payment of money today in relation to a 7 year old catalogue debt that I cannot even? |
remember accruing.
I rang them but the company were not very helpful. What on earth can I do? Surely 7 years is not a reasonable time in which to demand payment.
I live in S... |
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 When one bank buys another bank out and sends someone in your family a credit card you didn't authorize what |
can you do. i had no knowledge of this and now they are taking me to collections.
Additional Details
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 One man asks me to recieve money and buy laptop for him? |
I know it's bad. I gave him ONLY my credit card number and name of the bank. That's it.
He did transfer to my Credit Card account 3,760. Now my balance is (-3,760)
WaM... |
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Iloveshane | What credit score should I go by? |
transunion experian and equifax all have different scoring methods. which one is most accurate when it comes to what a creditor will look at...? So basically is the equifax score closer to what a bank might get or transunion or experian???? |
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latebreakfast
 |
Here is the answer.
None of them.
If you want the most accurate public scoring method, that will be closer to the score you might get from a loan officer, use genuine FICO scoring.
Transunion and the like use their own model which I have found is not that accurate.
Go to this website and purchase your scores. You will probably be pleasantly suprised.
Of course there are 3 scores.
Fico looks at all three, and gives you 3 scores for each credit reporting agency.
When you apply for say, a mortgage, they will use their own system of scoring.
Trans , equfx and exp all scored me in the mid 600's.
Fico had me in the 710's. When I applied for a mortgage, the mortgage company scored me at 724 (they take the middle score)
Choose the "FICO standard" link toward the middle right side of the page.
http://www.myfico.com |
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mss
|
The only credit score that matters is the one that your bank is using. If you are applying for a car financing, it will be the score that the financing company is using. So which score is the most accurate is irrelevant and hard to define anyway. They all use different algorithms and will tell you that theirs is the best.
With that in mind, there are certain actions you can take to improve your score across the board. I cannot go over all of them here but will recommend that you sign up for a free trial at FICO, which is the biggest independent provider of credit scores for financial institutions. They will give you their score but, more importantly, they will give you information on what influences it and what you can do to improve it.
http://www.myfico.com |
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redenz40
 |
Creditors must pay a fee when pulling your report, because of this most small creditors will usually only sign up for 1 company while larger companies usually use all 3. I suggest you contact some of the smaller creditors, small car dealerships, furniture stores and jewelry stores in your area and ask them which reporting agency they uses. Most large creditors know this information and usually this is the bureau they make sure they report too. In our area the majority use transunion so when I am helping one of our clients with their credit this is the report I really try to get. |
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sanfranbay_mama
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It depends on which agency the bank works with. You can generally call the loan department of the bank you are workingwith to find out which one they use. It varies with each one. Usually for larger type of loans, (home mortgage) they will go by your average of all 3. I wondered the same thing, so asked the companies and that is the answer that I have always heard. It's just like some of the creditors only report to one or two of the credit bureaus and that's why you have different information on all 3. |
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ebiz15
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It depends on the agency that looking into your credit score. All the 3 are important but Equifax seems a little more popular (i.e. occasionally, a couple of agencies look into Equifax only) but majority of them look into all the 3. The reason why they look into all the 3 is because they want to get a better idea about your FICO score.
The scores of all the 3 maybe different (not very different). Also, it is not very difficult for an agency to obtain a FICO score report from all the 3 companies. I found a link with more detailed explanation about FICO scores and how to increase it…
http://www.top-rated-credit-card.com/fico-scores-fair-isaac/
Good luck… |
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Just M
 |
This is a good question , I don't even have that answer ,but I can say ....there's another new scoring method soon to take place called Vantage , I don't know if this is going to take a place of one of the 3 or what .
I hope you get the right answer , i would be interested in founding out the answer.
I been thinking , lol ... I heard car loans have there own
agency and they look to see if you pay your bill on time , etc .
In the Midwest some goes by Trans Union ....
Again you've to call the bank or where ever you get the loan from . |
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bud68
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It all depends on which agency or agencies they use. No way to tell. |
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Regina Filange
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Simply stated - most lenders take all three scores & take the median of those scores - in other words, the one in the middle. If you are applying for a joint loan, they take the median score (from all three) of yours and the co-borrower's together. |
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tudorjason (matt)
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The credit bureaus have variations in their scoring models, but they are still similar. And lenders can look at any or all of your reports when you apply for credit; therefore, you need to go by all of them. Make sure they are correct and follow the basic steps of ensuring great credit like paying in full and on time. |
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