We get asked all the time by our readers whether they have the right to get a free credit score. Until now, the answer has always been “No”. But thanks to a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, starting tomorrow the answer will be “Sometimes”. The new rule requires that whenever lenders use a credit score to either turn consumers down for a loan, give them an interest rate higher than the best available, or raise their interest rate, the lender must send the consumer the score they used to make that decision. In addition, the lender must give the consumer a little more information about the score. Here’s what the lenders specifically must disclose:
We’re in favor of any rule requiring more disclosure to consumers about their credit. After all, if it’s your credit and it can cost you tens of thousands of dollars in interest payments or more over the course of a loan, shouldn’t you know what it is? So we think this new rule is a good step. However, the world of credit reports and credit scores is an extremely convoluted and confusing one and we think this rule may only add to that confusion. We’ve reviewed the requirements of the new law and found several areas that we think will be cause consternation for consumers getting their scores. Here are
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07 Jul
Posted by admin as Identity Theft Advice
More and more Americans are struggling with debt nowadays. When the situation seems desperate, many choose to work with a debt consolidation service to get debt relief. A suitable program of debt consolidation can help you take all your debts and combine them into one monthly payment. Sometimes debt consolidation services can reduce your interest payments significantly.
There are some organizations that offer non profit debt consolidation programs. However, each debtor can be free, because this option doesn’t require any upfront fees.
There are many scams and illegitimate debt consolidation programs. If you are not sure the company is trustworthy, it should make no difference if the word ‘non-profit’ is attached or not. For those considering a business that is labeled as a non-profit, do not let the title is what you base your decision on.
However, if you decide to work with a non-profit company of debt consolidation, it is highly recommended to go to your local resource for some recommendations. You s Full Post…
Getting traditional loans from banks or other financial institutions can be really frustrating, especially when you need the money urgently. In such a situation, opting for online title loan can help you a lot. For those, who are new to this, there are several organizations that can be found online, which can significantly ease the entire process of getting a loan. The only things, which you need here, is filling up an online application form with some of your essential details and get the loan by providing your car title as the collateral to the organization.
However, before opting for a particular organization, you must go through its website thoroughly in order to find out correct information about its policies and rules. In addition, it is always recommendable that you search for reviews about the company. An extensive research will help you to avoid any kind of future troubles and ensure a safe and secured loan. Full Post…