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You are here: Home / Archives for credit reports

credit reports

Why Cleaning Up Your Credit Reports Improves Mortgage Options

September 7, 2021 by Michael Bovee 2 Comments

Home buyers who take the necessary steps to improve their credit scores prior to house hunting save significantly over the life of their loans, compared to buyers who wait to fix their scores until they’re ready to buy. Low credit scores negatively affect home buyers by reducing their available loan options and increasing their financial […]

Filed Under: credit reports

How Bankruptcy, Payment Plans, and Debt Settlement Affects Your Credit

September 7, 2021 by Michael Bovee 85 Comments

A common concern you may have when searching for the best way to get out of overwhelming debt is how it affects your credit score. What follows will help you understand credit score impacts that relate to the most common and legitimate debt solutions. This page will also help to dispel some myths that get […]

Filed Under: bankruptcy, credit counseling service, credit reports, debt management, debt settlement Tagged With: debt relief, FICO, vantage score

Date of Last Activity is Important For Credit Repair and Settlements

September 3, 2021 by Michael Bovee 53 Comments

Date of last activity (DOLA), or date of last payment (DOLP), appears on your credit report for virtually every trade line that appears. Fixed loans like a car or mortgage payment are reflected on your credit report, as are credit cards that you have. This date of last activity is significant beyond how it “looks” […]

Filed Under: credit reports, debt settlement

Best Debt Solution Options – An Overview

September 7, 2021 by Michael Bovee 51 Comments

Debt Solution Options and Cash Flow

Because the options available to eliminate problem credit card debt are limited, I often find it more productive to use a process of elimination to help determine what would be the best debt solution. Most readers will find they can narrow down the list of debt relief options to one, or perhaps two, using the […]

Filed Under: bankruptcy, Blog, credit counseling service, credit reports, debt consolidation, debt settlement

Stress about overwhelming debt, or fear?

September 30, 2021 by Michael Bovee 1 Comment

I generally begin any debt relief consultation I do with people who reach out to my company in search of help with credit card debt with this question: “What has you reaching out to a perfect stranger? What is going on with you financially”? Then, I shut up and listen. I am sometimes the first person […]

Filed Under: bankruptcy, consumer rights, credit reports, debt collection, debt settlement, economy

Inaccurate Information on Your Credit Report can Cost You

September 7, 2021 by Michael Bovee Leave a Comment

The credit report topic has been covered well on our web site, but mostly as it applies to people who need some form of debt relief due to a financial hardship. While that is an important topic and a concern for more and more people as a result of our tough economy – what about […]

Filed Under: banking practices, consumer rights, credit reports

Credit Card Debts and Charge Off – What it Means to You

September 7, 2021 by Michael Bovee 60 Comments

The term charge off describes an accounting function followed by your lenders. When speaking of revolving consumer credit card accounts, a charge off occurs when the credit issuer either chooses, or must, recognize an unpaid loan balance as a loss. For lenders, losses are bad news. The bad news gets reported and can affect anything […]

Filed Under: banking practices, credit reports, debt collection, debt settlement

Dealing with Capital One in Collections

September 30, 2021 by Michael Bovee 315 Comments

My experience working with financially-challenged consumers and their creditors nationwide since the economic downturn reflects that virtually every national issuer of credit cards, even larger regional credit unions, have gone as far as they can to assist their struggling account holders. Capital One is an exception to this. How Capital One goes about settling a […]

Filed Under: bankruptcy, consumer rights, credit reports, debt collection, debt settlement

Settling Credit Card Debt in Michigan

September 8, 2021 by Michael Bovee 4 Comments

What happens to my credit after settling my debt?

Filed Under: credit reports, debt settlement

FICO Reveals Timely Credit Score Damage Details For the Struggling Consumer

May 20, 2019 by Michael Bovee Leave a Comment

Despite the FICO data, I must caution you not to base your decision about which debt relief option to pursue based on that information. All debt relief options — credit counseling, settlement and bankruptcy — will have a negative effect on your credit histories and/or FICO scores for some time. (See my recent blog, Debt Relief Options vs. Your Credit Score).

Filed Under: credit reports

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