What is Fico? What does it stand for?

What is Fico? What does it stand for?

Josh:                        What is FICO and who controls it? Samira:                  Equifax, Experian and TransUnion handle the collection of the data, but FICO is the Fair Isaac Company. They have the formula sort of like the recipe if you will for Coca Cola and it’s patented and it’s secret business information that no one has access to.…

Are there different types of Credit Scores?

Are there different types of Credit Scores?

Josh:                        Different types of credit reports. Samira:                  Yes, there are different types of credit reports, and people tend to … It causes confusion because they think that if they have one score it’s the same in every category. It’s like, again, going back to the Ford dealership, they have trucks, they have vans, and they…

Can I pull my own credit?

Can I pull my own credit?

Josh:                        Can I pull my own credit and does that hurt my score? Samira:                  Yes. You can pull your own credit as many times as you want. By law you’re entitled to one free credit report per year. You can do that by calling 1-877-322-8228. That’s the Under the Fact Act. If you Google the…

Do credit bureaus share information?

Do credit bureaus share information?

Josh:                        Do credit bureaus share information on your credit? Samira:                  No, they do not share information with each other unless there’s an allegation of fraud. That’s the only exception. Then they technically have an obligation to share information and report to each other that…

What is the difference between the three Credit Reporting Bureaus?

What are the main differences between the credit bureaus?   Samira:                  There are three credit bureaus: Equifax, Experian, and Transunion. Those are the three that handle the collection of credit data about you. They’re competitors. It’s like saying Toyota, Ford, and Chevrolet. Josh:                        What differentiates them? Samira:                  Size. Josh:                        Oh, really? Samira:                  That’s all. Their…

What is the history of Credit Reporting?

    Josh:                        Okay, so how and why did credit history start? Samira:                  That’s interesting, I do like people to know about the history of credit because I think it’s important so that they understand the future of credit. The history of credit was basically three bureaus, and the way they started was like every…

How are Attorneys Fees and Damages Paid in Cases against Credit Bureaus

  Josh:                        Let’s assume that I do use your services, how do I get paid on cases? How do you get paid on cases? Samira:                  The way we handle cases that are filed in federal court against the bureaus, credit bureaus Equifax, Experian, and TransUnion, is on a contingency basis. Meaning, when we get paid…

Did “Credit Repair” work for you?

  They just wrote letters and did disputes, an then more disputes! There was really nothing else that happened that could help me. I had to learn that recovering your credit is a process. A steady, but attainable goal. Trying to repair your credit is basically trying to cheat the system, which is fine. The…