Credit Questions
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- A repossession is reported on my credit, because the contract is not valid and was not signed. my question is can they report this on my credit if I have not been to court on this matter? The case is on the court calender and have I have not been contacted yet. I am not in agreement with the repossession on my credit file.
- How do I file a Identy Fraud that is on my credit report
- I have gone through a divorce, and during the separation, my spouse began to go delinquent on many payments, which has negatively effected my credit. I would like to know what I need to do to clear this.
- I co-signed a loan for my nephew. Will this affect my credit?
- I need to pay off two smaller cards that are about $252 apiece. A lender told me this would not increase if I paid these two off, is that true?
Q. A repossession is reported on my credit, because the contract is not valid and was not signed. my question is can they report this on my credit if I have not been to court on this matter? The case is on the court calender and have I have not been contacted yet. I am not in agreement with the repossession on my credit file.
A. Your question is legal in nature and is beyond our capability to answer.
However, if there is something on your credit report that is not accurate, you have the right to dispute it. No special forms are required to dispute your credit report. Information on disputing items in your credit report are explained on our web site at:
http://www.creditreporting.com/dispute.html
There's also a link to a sample dispute letter at the bottom of the web page.
Q. How do I file a Identy Fraud that is on my credit report
A. Here is a link to Identity Theft information on our web site:
http://www.creditreporting.com/identity-fraud.html
Q. I have gone through a divorce, and during the separation, my spouse began to go delinquent on many payments, which has negatively effected my credit. I would like to know what I need to do to clear this.
A. Yours is common problem and is difficult to remedy because a divorce does not necessarily relieve you of the joint debts you incurred with your former spouse. Unfortunately you may need to meet with your divorce attorney to explore your options.
Here are links to two articles about the issue. I hope it helps somewhat.
http://www.creditreporting.com/divorce-advice-credit-report.html
http://www.creditreporting.com/divorce.html
Q. I co-signed a loan for my nephew. Will this affect my credit?
A. As a co-signer on your nephew’s loan, you are probably liable for paying back the loan with your nephew. So the loan and any payment history may also be reported on your credit report.
Q. I need to pay off two smaller cards that are about $252 apiece. A lender told me this would not increase if I paid these two off, is that true?
A . Generally paying off the balance of a debt will positively affect your credit report and score. However, the amount that the score will be affected depends on the rest of the credit in the credit report. Are the two cards the only cards in the credit report? Are the balances on the two cards very small relative to the credit lines? FICO has some information on this subject:
http://www.myfico.com/ficocreditscoreestimator/
We are not lawyers or attorneys so don't rely on us for legal advice. We try to answer your questions as a public service, but we do so based on our experience which is limited to credit reporting issues. If you want professional legal advice, you should engage a lawyer to help you with your credit report related questions.
