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    • CDTV Launch! March 30, 2011
        Credit Dusters has just launched our interactive television show. The network is called CDTV and it will start out with a daily show about all things credit. You can go there now…tv.creditdusters.com.
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    • New VW and Other Purchases I Didn’t Make June 4, 2008
      It seems strange considering my profession.  I recently pulled a copy of my credit report through the credit watch service  I am a member of.  I needed to purchase a car so I wanted to see where my scores stood and shop for the best interest rate.  To my surprise I had purchased a brand new […]
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    • Loan Modification – The Best Chance for Success April 30, 2008
      This week we are discussing a painful, but important situation that a lot of American consumers are facing. It is so scary to think that you might lose your home, but we want you to know that there is hope. We want to be a resource to those folks because we have been there and […]
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    • Beauty in Simplicity Chapter IV – The Final Verse April 25, 2008
      My family lives in a small, rural town in Southern Indiana. We are surrounded by a soy bean field with hundreds of sprawling acres across the street and a large lake that adjoins our property in the back. Sounds nice, right? Why am I so discontented?What is it that continues to drive me toward always […]
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    • Beauty in Simplicity Chapter III – The Endless Road April 24, 2008
      I began writing about the subject as a result of my daughter and I going on a field trip to our county 4-H last week. All the modern day farmers talking about raising chickens, cows, rabbits, and living off the land made me yearn for a life like that. This is my journey…The truth is […]
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    • Beauty in Simplicity Chapter II – What’s in the Box? April 23, 2008
      In his book, Halftime, author and successful businessman Bob Buford comments on the purpose of money in the following manner: Mike Kiami is a strategic planning consultant. He is brilliant. He is intuitive. He is demanding. He slices through all the pretense and posturing, and hones in on the core. He does not believe in […]
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    • Beauty In Simplicity – Chapter 1 April 22, 2008
      “Stop this train, I want to get off!” – Vanilla Ice Yesterday I touched on the fact that I am soul searching for the simple life. My wife and I used to think the Amish had the answer. I now know, as I mentioned, that I do not have to buy a farm and work […]
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    • A Rabbit Meat Shortage, The American Consumer, and Something About The Simple Life April 21, 2008
      I went on a field trip with my 3rd grade daughter this past week to our county 4-H. I learned a lot about farm animals. It was quite amazing because I saw the farmer of today and even with all the modern technology, (like a $280K combine that has a stereo, GPS system, and two seats) it […]
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    • How To Not Blow Your Tax Refund April 2, 2008
      In my previous post I wrote about the importance of filing even when you owe. Today I am going to give some helpful tips on preparing for your refund. Whether you are getting $500.00 or $5000.00 it is human nature to spend your money two or three times before it even hits the bank. I would encourage […]
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    • How To Proactively Protect Your Identity March 26, 2008
      Freecreditdusters.com has a great article on ID Theft – Check it out
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New VW and Other Purchases I Didn’t Make

It seems strange considering my profession.  I recently pulled a copy of my credit report through the credit watch service  I am a member of.  I needed to purchase a car so I wanted to see where my scores stood and shop for the best interest rate.  To my surprise I had purchased a brand new VW (at close to $25,000)!  It turned out this new purchase had affected my scores somewhat and I would have to wait to get it off my credit before I could qualify for the interest rate I wanted.  The strangest thing of all is that I have never owned a VW and I also noticed that there was a strange address listed on my credit report from a nearby town. 

Coincidence?  I thought so until I went to my neighborhood Kroger to pick up a prescription.  When the pharmacy rep rang up my order, she confirmed my address as the nearby town I mentioned above.  Turns out the prescription was not even mine, but a totally different prescription from this ghost VW gal.  My best guess is that this mystery person has the same name as me, social security number very close to mine, and just happens to live less than 15 miles from my home. 

This sounds bizarre but you would be suprised how often these types of scenarios play out.  More commonly these mistakes are made due to family error or even family identity theft.  Are you a Sr. or a Jr.?  Better check your credit.  If you are a Sr. and have a Jr. floating around out there, it is likely you may have some things mixed up on your credit.  Have you been through a divorce?  Even more likely that the ex’s junk is showing up on your report  and affecting you long after their gone.  If you have ever filed bankruptcy, you better believe there is junk hanging around on your credit that shouldn’t be there.

Don’t be caught by surprise like I was.  I had to wait an extra 60 days to purchase my car while I was waiting for mystery girl’s junk to be removed from my credit (after I disputed the information to the credit bureaus).  Now I keep watch on my credit every 30 days through my credit watch service and have instant notification of changes or new inquiries.

Good things come to those who are proactive!

consumerwatch.jpg 

Today we received a phone call from one of our clients. Carla and her husband called to thank us for sending them to the credit watch service. They had signed up a few months ago, but had never checked her credit since then.She was surprised when she received an email from Trans Union alerting her that several new trade lines had been added to her credit report. Carla knew that she had not applied for anything. She logged onto to her True Credit services and saw that 3 new collections had been added from the same company.

The ironic part is that these were her husband’s medical bills and they had been added to her account. She had just spoken with the collection agency and set up payment arrangement to avoid it reporting on her account.  They had assured her that the collections accounts would not be reported to the credit bureau.

“Because I was signed up with the service it alerted me immediately that something was wrong on my credit. This allowed me to be an educated consumer and hold the collection agency accountable. If I had not had the service with True Credit I would have not known about these until I applied for a loan. By then it would have been too late.”

We are working with Carla to get those items removed permanently from her report. Carla did a great job and we were happy to hear from her. 

Announcement: The Credit Authority Newsletter

Saying that you are an Authority on any subject these days is a pretty tall order. The quickness and chaos of information is coming at us faster than we can decipher it. It is the great paradox of our time – on one hand we have information at our fingertips and yet on the other had who has time to find it.

Enter Stage Left: The Credit Authority. We want to be your source for all things credit. One thing for sure it will never be boring.

 Thanks in advance for subscribing…Simply click the link on your right and enter your email address ->  Sign up here 

Matt Sullivan, CEO of Credit Dusters.  / Questions: matt.sullivan@creditdusters.com

The New Credit Face of FICO 08

Credit Hawk Blog has an excellent post as well as several resources about the new credit scoring system that is already out. Check it out: http://credithawk.blogspot.com/2008/03/new-face-of-fico-08.html

Thanks,

Matt Sullivan, CEO

My credit score went through the roof!

“Matt, I love you!”  

This is the exclamation Matt heard this week on the other end of the phone line.  Tonya, a resident of Hobart, Indiana and soon-to-be homeowner, could not resist calling and expressing her excitement at getting approved for a mortgage.  Less than three months ago Tonya came to Credit Dusters with a 588 middle score.  Processing got right to work and also coached Tonya to do things that would get her scores raised even higher.  Tonya informed Matt that her loan officer pulled her scores yesterday to discover she has achieved a 100 point increase.  I bet Tonya is now collecting boxes to start packing her things. 
Best of Luck, 
Matt Sullivan, CEO of Credit Dusters  
P.S. – Also, if you have not check out the credit watch service my wife and I recommend for our clients then you are in for a treat! You can check your credit from all three credit bureaus for $14.95! – Click Here

The anatomy of A credit watch service

Credit Eye

The best way for you to fight identity theft is by monitoring and reviewing your credit report on a monthly basis. Does this sound time consuming? Don’t worry it’s not. In fact the very technology that has made identity theft a lucrative, full time gig will also help you combat it.

Why would you not want to protect your credit? If you follow these steps you will never be caught unaware again.

Join a credit watch service. We have done a lot of research to find what we feel is the best of the best. We took into account several factors such as:

1. Cost – This is the big one and the most confusing. This is not just about monthly cost, but also the add-ons. Several of the credit agencies we looked at would charge extra for monitoring. Many of them were misleading and charged extra for the other two credit bureaus.

2. Accuracy – This is the second biggest factor for a credit watch service. All scores are not created equal. This is very confusing to most consumers. The bottom line is that if you use a service that does not use the FICO score then you are wasting your money. It is imperative to make sure that you work with a service that uses all three of the credit bureaus (Transunion, Experian, and Equifax).

3. Layout – This was extremely important. How easy was the credit report to read? This might sound obvious, but some of the services were difficult to decipher.

REVIEW RESULTS: We have found what we believe to be the best of the best. We are hooked on TruCredit it matches all of our criteria and more. You can check it out! Simply click here to try it out for yourself.

Some TrueCredit highlights:

> Unlimited access to all three versions (TransUnion, Experian, and Equifax) of your credit reports and credit scores.

> Receive a brand new report anytime you want. Heck, pull ’em and check ’em every day if that’s what floats your boat.

> Cancel whenever you want. Like me, you’re always looking for a better deal, right?

> You’ll be notified of important credit-report changes (like new accounts, new inquiries, late payments, and various other speed bumps) within 24 hours.

> Credit reports are detailed, colorful, and very well organized. I prefer these to the 3-bureau versions found at MyFICO.com, which I’ve previously used. In fact, the overall layout of TrueCredit is excellent.

> TrueCredit has a “Trends” section which shows you trends over time in seven various aspects of your credit life, from “Available Credit” to “Total Debt.” More below.

> Like their FAQs state: When you personally check your credit report with TrueCredit.com, the inquiry that is recorded will not adversely affect your credit standing.

> Easy-to-understand graphics show you how your score compares to others, and how you’ll rank with lenders.

> TrueCredit comes with $25k of “Identity Theft Insurance” (provided by AIG). I don’t know about you, but I’d much rather not have to use this.
Offers lots of good educational articles and worksheets on topics like improving your credit scores, credit resolutions, credit-repair services, and identity theft. A lot of this, though, is accessible even if you’re not a TrueCredit subscriber.

The Devil Post on CreditHawk

Wow! I have to tell you I was blown away by the post on this site – Check it out!

http://credithawk.blogspot.com/2008/02/i-think-everyone-knows-that-something.html

Thanks,

Matt Sullivan, matt@creditdusters.com