Article by Professor Loan Mod
Big News! Ive always wondered why my rental payments, cell phone and even monthly utilities do not get reported to the credit bureaus. After all everyone has the above and usually I would think pay these items on time because simple we need them in todays world.
Experian has announced they will start reporting rental history to your credit report; however, you have to live in an apartment or condo that is managed by a large property management company. I can certainly see the benefit to this new service as well as the downside to it. Perhaps due to the increase of homeowners who know will be renting and may soon only be renting due to tighter lender restrictions, I can see this become the norm as many homeowners struggle with mortgage payments and will have bruised credit for many years.
Experian has started to gather information from property management companies nationwide, it estimates about 8 million tenants who generally live in larger apartment complexes will be affected initially by its decision to report on time rental payments. Rent Bureau an extension of Experian will be the first to finally come out with this type of reporting.
For many people this will be a great way to rebuild credit or even establish good credit. As for some it may not be a good thing if you happen to not make rent or live in a more private establishment. One of the main reasons why rental payment history has never really been targeted is because there are so many different types of property management companies and not one of them has a huge market share. Consider JP Morgan and Chase, Bank of America both of which have huge market share in many things like mortgages, credit cards etc I am happy to have trolled across this news and am even happier because I live in a huge apartment complex and will certainly take advantage of this new opportunity to enhance my credit. Believe it or not there are over 96 million renters according to the National Multi Housing Council a trade group for major landlords.
This is perhaps an untapped market, because market share for new college graduates looking to build credit cannot because they have no established credit. Many student loans do not report until after you graduate and are a great way to establish credit however, if you are in college or do not have any student loans than it will be even harder for you. New legislation for credit card companies has also curbed college students away from getting access to credit cards to establish credit because of the delinquency of that age bracket. This will in the end take some time to see the full effects, however, if you are looking to buy a house in a few years or are rebuilding credit this will certainly help in the long run. Experian still needs to evaluate and see how the data will be used, their approach is to let the data tell the story and aim them in the right direction.
About the Author
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Article by Lamar
Guess what???? Credit Bureaus are extremely powerful organizations, so you must treat this encounter as a “dog-fight”. Fortunately for you, once you obtain the proper information and know how, you can rise to the occasion of winning your credit battle. It may seem starting off that they have the advantage, but once you arm yourself properly you can take the advantage right from under their nose.
First things first, you must get a credit report from every agency you possibly can. Then you must identify and y false or incorrect information that has been entered onto your file. Computer errors, human errors, incorrect social security numbers, incorrect address, etc. happen ALL the time. If anything, you should make sure you haven’t fallen victim to a computer error.
There are more than 4,500+ credit reporting and collection agencies in the great ole USA. If you have a credit issue it may or may not be brought to your attention. If you apply for credit and there is a denial, you would be notified by the lender and told that the application denial was a result of a credit bureau report. If you know or possibly suspect an issue with your credit, send for a copy of a report and investigate thoroughly.
I highly recommend that you do not wait until you are denied for credit to obtain a copy of your credit report. Get a copy even if you think you credit is spotless, you just never know what can be happening behind closed doors. As previously stated humans and computers are far from error free and the slightest slip on an address, social security number, etc. could cost you thousands.
If you are really serious about improving your credit score, I have to recommend the 24 Hour Credit Fix. Bar none, this is the only true source of everything you need to know to skyrocket your credit score.
Check it out here – http://www.your24hourcreditfix.com/.
About the Author
Lamar A Banks
Where is Dell Head Office in Canada? They are reporting debt on my credit report for a system I returned?
Question by Annie D: Where is Dell Head Office in Canada? They are reporting debt on my credit report for a system I returned?
I purchased a system, that was shipped defective. I returned it (actually, Dell picked it up), and now need to communicate with them to remove the debt from my credit report. They have not responded to my queries at all, and I’d like to write to the President.
Answer by sphere_68
EDIT: I think you’ll get further if you call and give your shipping number. Sometimes there are delays with credit card companies and businesses. Call and complain, then write the letter. I just think it would take longer if your just did it by mail.
Mailing address is in last paragraph.
Home & Home Office Customer Sales 1-800-999-3355
Hours of Operation:
English: Mon-Fri 8am-11:59pm, Sat 10am-8pm, Sun 12pm-9pm
French: Mon-Fri 8am-6pm, Sat 10am-6pm, Sun Closed
Dell System Components
Peripheral Product Recommendations
Non-technical assistance with your Dell order or account including Order Status (Please include your Order Number when enquiring about Order Status). 1-800-847-4096
Our phone representatives are available Monday-Friday, 8am to 9pm (EST). For your added convenience, you may reach us online seven days a week. Please click here for assistance.
Please include your customer account number and send mail to:
155 Gordon Baker Rd., Suite 501
North York, Ontario M2H 3N5
Know better? Leave your own answer in the comments!