Fico Scoring, credit reports and debt collections

Know you can request a credit score, but not for free; rely on MyFICO for trusted FICO scores, while mortgage lenders may offer free scores or require purchase.

Learn to challenge incomplete, unverifiable, or inaccurate information on your credit report; bureaus must investigate and correct or remove data within 30 days, while verified items may remain.

Determine when negative items start on your credit report by counting from the last activity date, 30 days after the last payment, and note they stay up to seven years.

Learn to restrict pre-screened offers of credit and insurance based on your credit report, and opt out by calling the national credit reporting agencies at 888467 or (888) 567-8688.

Understand a concise overview of the fair credit reporting act (FCRA) and how key information is extracted from credit reports for FICO scoring, credit reports, and debt collections.

Explore credit reports and Fico scores, building a working understanding of how these elements influence credit health.

Explore fico scoring and credit reports, including the five pillars of the fico score, rights under the Fair Credit Reporting Act, and where to access reports.

Recognize you have a right to a credit score, but not for free; only myFICO.com provides a true FICO score, while free options like Credit Karma are not FICO.

Learn how to challenge unverifiable or inaccurate items on your credit report, how bureaus must investigate within 30 days, and how creditors must provide proof before reporting.

Explore how soft inquiries affect FICO scoring and why they don't lower your score, including self-checks and the annualcreditreport.com exception.

Understand how payment history, which makes up 35% of your FICO score, weighs late payments by recency, frequency, severity, including 30, 60, 90, and 120 days late.

Compare FICO scores with fakos across many models and bureaus; underwriters choose the method used.

Fico 9 lowers medical debt impact and removes judgments, with paid medical debt removed since 2022 and new debt delayed after collection, under 500 not reported starting 2023.

Explore how multiple credit scoring models create confusion and why one score doesn't fit all purchases, showing mortgage, auto, and credit card scores vary across FICO models and bureaus.

learn when to pay your credit card bill to improve FICO scoring by making mid-cycle payments on the 21st to the 25th day, reducing reported utilization to about 10–15%.

Divorce itself does not lower your credit score, but post-divorce debt and joint accounts can affect your FICO score; discuss debt ownership, refinance where possible, and monitor your credit reports.

Trace the evolution of the credit report from the 1800s to today. The history highlights rapid changes in the past 25–30 years and delivers a concise recap.

Examine how fico scoring, credit reports, and debt choices shape financial outcomes, from high interest auto loans to payday loans, and learn smarter spending and credit behavior.

Explore mortgage basics through Jack and Jill's ten-year loan, comparing monthly payments (1581 and 1734) and interest rates (4.84% and about 5.66%), and the total interest difference of 24,210 dollars.

Explore how lower credit scores raise borrowing costs, as Jill pays $372 more monthly for the same loan. See how higher premiums and landlord checks shape finances.

Explore opportunity cost and lost by comparing an initial $201,712 and $300-plus monthly payments over 50 years to a stock market return of 8-9%, showing a $5.2 million gain.

The instructor presents a disclaimer that they are not an attorney and the course does not render legal advice, urging viewers to consult a personal attorney and use best judgment.

Examine debt collectors, lies and deceit, and learn the debt collection process with insights from decades in credit restoration and real estate, reinforced by the author’s book.

Learn how to navigate debt collection one-on-one by understanding what debt collectors can do, the Fair Credit Reporting Act, and the Fair Collection Practices Act.

Examine a recorded debt collection call to understand mediation tactics, misrepresentation risks, and the process of civil lawsuits, asset seizure, and default judgments, including outside-of-court settlements.

A tense debt collection call demonstrates how to validate a debt via the chain of title, tracing ownership from Bank of America through agencies, and handling disputes with collectors.

Compare the old dun letter to the current system, detailing required debt information, 30-day dispute rights, written validation, and ownership proof for debt collectors.

Take control of debt-collection calls by demanding the caller’s first and last name and their company, staying calm, and ending the conversation when needed to avoid fdcpa issues.

Review how state statute of limitations vary by contract type, from oral and written contracts to promissory notes and open accounts, with examples across Mississippi, Missouri, Minnesota, and Kentucky.

Understand how the statute of limitations limits lawsuits by the last activity date and how token payments reset the clock, while you must respond to debt collection lawsuits.

Debt collectors must contact the consumer before reporting to a credit reporting agency, using phone or in-person contact, mailed notice, or electronic message, and wait a reasonable deliverability period.

Learn what happens when you are served with court papers delivered by the sheriff's office, a disinterested third party, or certified mail, and how the date-time stamp starts the legal clock. Act within the legal time frame to avoid a judgment by default.

Learn how to send the summons to the law firm via certified mail within 20 days, securing a time-stamped delivery and signature, then await the debt collector's response.

Learn how adding positive trade lines can boost your fico score and improve credit reports, even after bankruptcy, by balancing revolving and installment debt.

Discover how deletions alone don't raise your FICO score without adding positive tradelines; learn to delete bad tradelines, maintain good tradelines, and obtain new tradelines to reinvent yourself.

Explore installment debt for FICO score recovery by balancing fixed-term loans with revolving debt, and create a self loan through secured savings account at a credit union reporting to bureaus.

Understand revolving debt, its maximum limit, fluctuating interest, and how minimum payments affect Fico score. Ensure reports to all three bureaus and verify cards are backed by Visa or Mastercard.

Understand secured credit cards and their fees, and learn how credit utilization impacts your FICO score. Pay on the cycle’s 25th day to optimize reporting.