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Amount Past Due on Accounts

A denial of credit based on the amount past due on accounts can be a major sign of financial distress. It is one of the most severe credit bureau risk factors of payment history that are used to calculate your credit scores. Continue reading

Length of Time Since Derogatory Public Record or Collection is Too Short

Judgments can do more than crimp your bank account (levies) or paycheck (garnishments). They can also show up on your credit report and prevent you from getting new credit. Collection agencies can also show up, resulting in the credit bureau generating a code on your credit report. This code reads “length of time since derogatory public record or collection is too short.” Continue reading

Number of Accounts with Delinquency

One of the greatest factors for demonstrating that you are a high credit risk is to be delinquent on several credit accounts. If your credit report reveals this code as a contributing factor for denial, then you should focus on catching up on late payments rather than opening new accounts. Continue reading

No Recent Non-Mortgage Balance Information

Many older Americans tend to avoid using credit, with the exception of the mortgage they have been paying on for many years. While this can be a safer path than using credit more frequently, it also can be the cause for denial on some major non-mortgage credit applications. Continue reading

Auto Relief Group LLC Scam is Busted

The massive Auto Relief Group scam is finally busted. Auto Relief Group LLC advertised heavily on both the internet and television in 2009 and early 2010. By June 2010, this massive scam was shut down by regulators.

Jeffrey Taylor, Director of Sales of Auto Relief Group provided the following quote in a press release on January 29, 2010: Continue reading

Length of Credit History is Too Short

When creditors evaluate your credit applications, they are looking for positive repayment habits. While bad credit can block new credit, having too short a credit history can also prevent many types of credit applications from being approved. Continue reading