Don’t let someone else’s credit problems slow you down

admin • October 2, 2013

Don’t let someone else’s credit problems slow you down – Cross-referencing of others on your credit report – credit information that erroneously shows on your report because another person shares identical or similar name – can cause great financial hardships and has become an epidemic. I get one to two cases of cross referencing, and if the person you’re being cross referenced with has negative credit history, this will completely shut down your ability to get A+ credit.

In most cases, cross referencing will only report to one reporting agency, and rarely two of the reporting agencies, but if an account shows up on your report that it is not yours and is reporting all three reporting agencies, this is usually identification theft and not cross referencing.

Recently I had the most severe case of cross referencing I have ever seen – 29 accounts showed up on a client’s credit report, which is just devastating to a credit score. At this time in our history, consumers have enough problems without adopting someone else’s
This obvious question is, how do you fix this if it happens? If you are being cross referencing because of confusion about “Junior” or “Senior” versions of the same name, get a letter notarized from the person you’re being crossed referenced with, starting the account or accounts listed below are yours and do not belong to Junior or Senior. Include a letter of your own that verifies your social security number and date of birth and requests that the other accounts be removed from your report, as they do not belong to you. (Note: Just make sure you attach it to your letter).

If you are cross referenced with someone with similar or identical names, you can come to one of our free credit classes and get a free manual that goes into detail for dealing with this. Remember, we have our free on the second Saturday of every month. Call our office at 505.899.1448 to sign up.

Until next time, good credit to you.

Red light camera tickets a credit risk

By admin • October 2, 2013
Red light camera tickets a credit risk – About a month ago I started getting calls from banks and mortgage companies that their loans all over Albuquerque were falling through for auto and mortgage loans. The reason? Years of red light camera tickets recently went into collections, all at one time, and thus put on the credit reports of Albuquerque consumers. Sure enough, I had many clients come in to have meetings to see if they were credit ready wise. Scores were knocked down between 35 and 45 points for each collection entry for these red light tickets.

Keep lease judgments off credit history

By admin • October 2, 2013
Keep lease judgments off credit history – I have seen many cases on my office of consumers with judgments on their credit reports due to early termination of a lease. In many cases the lease was walked out on due to a hostile living environment. Whatever the case, there are things to get this mark removed from your credit history.

Your own personal credit FAQ

By admin • October 2, 2013
Your own personal credit FAQ – I get a lot of questions at Credit Rescue Now, Where we counsel consumers about financial landscape and how to make sure their credit remains strong and sound. I thought it would be helpful to put together a list of frequently asked questions and answers. I hope this information is helpful.

Take care of your credit while renting

By admin • October 2, 2013
Take care of your credit while renting. People know what major financial step home ownership represents, but we often overlook the financial and credit implications of renting an apartment or home. There are some important things to consider.

Get the errant debt collector off your back

By admin • September 30, 2013
Get the errant debt collector off your back!
More Posts