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How does credit counseling affect credit scores?

September 25th, 2006

There are many different views on this. Here is some useful data on how to determine for yourself whether credit counseling is good or bad for your credit score.

Craig Watts, Public Affairs Manager at Fair Isaac Corp. (FICO), has stated that it is not their goal to have consumers consider credit counseling to be detrimental to their FICO scores.

This is good news; however, if the credit counselor negotiates a lesser contractual obligation, it is the lender who decides how to report that new obligation to the credit reporting agencies.

Iowa is returning money

September 18th, 2006

Iowa Treasurer Michael Fitzgerald is surprising Iowans with money they did not know they had.

Ogden Olson was surprised to learn that he was the rightful owner of approximately $2,800.00. He did not remember purchasing any stocks or bonds, but the state was holding common stock in his name.

Fitzgerald remarked that his office has payroll checks and other checks which have exceeded their expiration date. The largest cash amount listed is $613,000 for Brammer Manufacturing Co., a business no longer in operation. He also stated that a claim is expected to be filed.


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