A 609 letter is a way to request verification of the accuracy of the accounts listed on your credit reports. While they’re ...

As more people fund their purchases with BNPL loans, they’re starting to appear on credit reports, but they won’t affect your credit score for now. Here’s what to watch out for.

If you have the cash available, paying off the entire charged-off balance is often the cleanest solution to dealing with this ...

Debt collectors may cross legal lines with threats, harassment and deception. Know the red flags (and your rights).

How charged-off debt affects your credit A charge-off impacts the payment history portion of your credit score. Considering 35 percent of your FICO score is based on payment history , a charge-off ...

Only when they asked the debt collector for a debt validation letter to prove that they own the debt, they were hung up on. That, frankly, raises a red flag. It’s not unusual for a debt to be ...

You'll also want to file separate disputes with any credit bureau that's reporting the debt. Under the Fair Credit Reporting Act , credit bureaus must investigate these disputes within 30 days.

In 1996, Congress prohibited medical debt from being reported to credit bureaus — but then reversed itself in 2003 and created an exception to allow medical debts to be reported with special coding ...

On Jan. 7, 2025, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will ban the inclusion of medical debt on credit reports and prohibit lenders from using medical information ...

The Consumer Financial Protection Bureau moved on Tuesday to ban medical debt from appearing on credit reports, potentially lifting the credit scores of about 15 million Americans and making it ...