People rely on their credit reports for many reasons. Decisions on loan applications or apartment lease approvals might hinge on a decent credit rating. Some would-be employers might even pass on a jobseeker whose credit report looks weak. Unfortunately, not all...
Will deferred payments lower my credit score?
If you struggled to pay back your loans over this past year, deferred payments were a welcome relief. Student loans, car loans and housing payments stretched your paycheck to its limit. By placing these obligations on hold, you were able to take a breath and readjust...
Credit scores rise to all-time high during pandemic
The pandemic has wreaked havoc on virtually every aspect of life in Minnesota, across the nation and around the world. One of the few things to have actually improved during these tumultuous months: the average American consumer's credit score. That’s according to the...
Four reasons why your credit scores can vary
It’s true in Minnesota and it’s true in Wisconsin. In fact, it’s true across the nation: your credit score is a crucial component of your financial life. Whether you are buying a house or purchasing a car, lenders look long and hard at your credit score to decide...
U.S. House passes credit score protection bill
A couple of days ago, the U.S. House of Representatives took a step to help consumers when it passed the Protecting Your Credit Score Act of 2019. The bill is designed to help people get easier access to their credit reports. If the measure is passed by the Senate and...
Lender’s reporting error drops credit scores nationwide
One of the features of the massive stimulus package passed by Congress earlier this year gave people across the nation a temporary break from paying off their student loan debt during the coronavirus pandemic. Unfortunately, many of those same people have had their...
Mistakes on your credit report can cost you more than a loan
Individual credit reports are used for more purposes today than they were only a few decades ago. Credit reports at one time only had an impact on banking and the ability to obtain credit, such as a mortgage, a vehicle loan, a credit card or a personal loan. A poor...
Mistakes on your credit report could cost you thousands or a job
Many aspects of modern life involve people's credit scores and credit reports. Did your car break down and you want to buy or lease a new one? Your credit report will determine if you qualify and how much interest you'll pay. Similarly, if you're ready for a new...