Collection agencies usually buy your unpaid debt for pennies on the Dollar. Then they report it to your credit report for the original balance owed to the original creditor. Some of them tend to charge you interest and every Month, they update your credit report with a higher amount. This is illegal, yet they do it because…

Judgments or liens are reported on your credit report under the Public Records section. Judgments are lawsuits against you in a court of law for which you never appeared to defend yourself in court when you were served by mail or in person or you appeared and lost your case. Judgments can affect…

Repossessions on your credit report will impact your credit for years. They stay reported for seven years from the date your property was repossessed. Usually when the lenders see the 7 Years are approaching, they sell the account to a collection agency for pennies on the Dollar, who in return, also report it on your …

Bankruptcies appear on your credit report under the “Public records” section of your report.They stay reported for ten years from the court filing date.It takes two years after you file for Bankruptcy for lenders to consider giving you credit. Many lenders approve you right away because they know you are free of debt and…

Foreclosure accounts stay on your credit report for up to seven Years from the date the courts report them.What most people are not aware of, is that when the credit bureau reports a foreclosure to your credit report, they report it with a balance of hundreds of thousands of Dollars or Millions, depending on your loan agreement,…

Medical collection bills can become a big problem to our credit report. Though many people have healthcare insurance or medicaid, they tend to ignore the medical bills they receive by mail.The most common reason for ignoring those bills is because they assume that since they provided their insurance information when they went to…