Latest news with #NFCC
Yahoo
2 days ago
- Business
- Yahoo
7 credit score myths you should stop believing
If you've ever learned anything about credit scores from a friend, a family member, or social media, I'm sorry to tell you this, but you may have some unlearning to do. In my past role as an NFCC-certified credit counselor and my cumulative 12 years working as a financial educator, I've heard some bizarre myths and rumors about credit scores, a few of which are really popular. Sure, myths can be fun. But when it comes to credit scores, they have major consequences. Some of the most commonly held myths can leave you with perpetually low credit scores and make it hard for you to qualify for mortgages or credit cards. Here are the most common and harmful credit myths I've come across, and the truth you need to know about each one. This embedded content is not available in your region. Top credit score myths debunked 1. Checking your credit reports lowers your scores When I encourage people to pull their credit reports, I tend to hear the same response: "Won't that hurt my credit scores?" The answer is a firm "no!" The truth is, pulling your own credit reports does not hurt your credit scores at all. In fact, if you don't pull and review your reports, you may never be able to build good credit. That's because reviewing your reports helps you with all of the following: Finding out what's in your credit file Discovering what needs to be improved Finding and disputing credit report errors Catching signs of identity theft You can pull your credit reports for free once a week at 2. You need to carry a balance to build good credit I wish I had a dollar for every time someone told me that carrying a 30% credit card balance (that's a balance equal to 30% of your card limit) helps you build good credit scores. The reality is that the lower your credit card balance is, the better for both your credit scores and your wallet. When you have low balances, you reduce your credit utilization ratio (the amount of credit you're using compared to your total available balance). The lower your credit utilization, the better it is for your credit scores because you're showing lenders that you don't need credit cards to cover your expenses. Additionally, if you pay off your full credit card balance by the monthly due date — which I highly recommend — you can avoid high interest charges. 3. I don't need to worry about my credit until I want a loan In my credit counseling days, I often got calls from people who wanted help fixing their credit ASAP. Often, it was because they had just submitted an application for a car loan, or made an offer on a new home. Unfortunately, I had to let them know that it usually takes months, and sometimes years, to clean up credit mistakes and build good credit. For example, even if you pay off your credit card today, it can take a month or more for the $0 balance to show up on your credit reports and be factored into your credit scores. And if you want to build good credit scores, it can take months or even years, depending on the condition your credit is in now. 4. Paying off collection debt helps your credit scores I receive several emails a month from people who are desperate to remove old collection accounts from their credit reports. The reason? They want to improve their credit scores — fast. Unfortunately, there's no guarantee that paying off a collection account will improve your credit scores. Here are a few credit score facts to keep in mind before you consider sending money to a debt collector: Medical collection debt under $500 has no impact on your credit scores. Paying off a collection account does not remove the account from your credit reports. Most credit score calculations do not make a distinction between paid and unpaid collections. That said, depending on the type of debt, you may want to pay off collection accounts anyway. It can stop debt collectors from contacting you or even taking legal action against you. However, if the debt is old and close to falling off your report (typically seven years from the original delinquency), paying may reset the clock on the debt. So, if you're unsure about how to handle a debt in collections, it's a good idea to reach out to an accredited credit counselor for guidance. 5. Disputing accurate information will improve your credit scores Most credit myths are a mix of truth and fiction, and this one is no different. Here's what's true: If you find an error in your credit reports, you have the right to file a dispute (for free) and get the information corrected or removed. But you do not have the right to get accurate information removed from your reports. Unfortunately, some people view the dispute process as an invitation to try and remove any negative information, even if it's accurate. In fact, there are credit repair companies that charge money to dispute correct information on your behalf. If you do dispute correct information, there's a chance it will be removed from your reports while the credit bureau investigates your claim. But once they confirm that it's accurate, the information will reappear on your reports. 6. A good credit score means you're rich Wealth doesn't impact your credit scores, at least not directly. Yes, your income level can impact how much money you borrow, whether you're able to repay loans and credit cards, and other behaviors that affect your credit. However, your income is not a factor in determining your credit scores. In fact, even if you're considered rich, but you don't pay your debt on time, you will have poor credit scores. 7. Bad credit history follows you forever As a credit counselor, I spoke to many people who believed that a bankruptcy or foreclosure from the '80s or '90s was still damaging their credit. While events such as bankruptcy, foreclosure, and repossession will cause severe damage to your credit scores, the damage only follows you for a limited time. Here's a breakdown of the timelines: 7 years: Missed debt payments (at least 30 days late), vehicle repossession, home foreclosure, and Chapter 13 bankruptcy. 10 years: Chapter 7 bankruptcy and positive credit information As negative information gets older, it has less of an impact on your credit scores. Once it's removed, it has no impact at all. Up Next Up Next
Yahoo
4 days ago
- Business
- Yahoo
What is a credit report, and how do you read one?
If you've had a credit card or a loan at any point in the last seven years, you probably have a credit report. Credit reports are important financial documents that have information in them about how you've managed your debt, including whether or not you've made your monthly payments on time. Knowing how to pull and read your reports is a key financial skill, since it can help you improve your credit scores and catch signs of identity theft. Yet, in my work as an NFCC-certified credit counselor and financial educator, I've found that people are confused by the information in their credit reports. So here are some tips for tackling these important documents and understanding what's inside. This embedded content is not available in your region. What is a credit report? A credit report is a document that details your history with debt over the last seven to 10 years. This includes your credit cards and loans, and any bills that turned into collection debt if you fell behind on the payments. Credit reports help lenders, landlords, insurers, and others assess your creditworthiness, or how likely you are to repay borrowed money and generally meet financial obligations. How does information get into your credit reports? Banks, credit card companies, and lenders report your payment behavior regularly. to the three national credit bureaus (Experian, Equifax, and TransUnion) each month. However, some creditors don't report information to all three bureaus, so it's normal to find differences between your reports. View a sample credit report from Experian>> What information is on a credit report? Credit reports have detailed information about your debt accounts and how you've managed them. Here's what you'll find inside, and how to make sense of it all. Personal information Any identifying information you've included in a past credit application can show up in your credit reports. This information is meant to help verify your identity when someone wants to pull your reports. Here's what's included: Name (including names you've used in the past) Date of birth Social Security number Addresses Phone numbers Names of landlords Employers who ran credit checks on you in the prior two years Account details Your credit reports contain extensive details about your credit cards and loan accounts, including the dates each one was opened, how much you owe, and whether or not the accounts are closed. You'll typically see these accounts split into one of two categories Satisfactory accounts: These are accounts where you've made all of your payments as agreed. Satisfactory accounts stay on your credit reports for 10 years after they're closed. Adverse accounts: This category sounds a little misleading, since it can include accounts that are in good standing. If you've missed just one payment on the account, even if you're current on your payment now, the account will stay in this category for seven years from the date of the missed payment. To help ensure you understand everything in your reports, here are a few common account terms in credit reports that might not be familiar: Primary holder: You're the main account user, and you're legally responsible for repaying the debt. Authorized user: You have access to the account but are not legally liable for the debt. Secured: The debt is backed by collateral (such as your home or car). Unsecured: The debt is not backed by collateral. Revolving: Available credit on the account can increase or decrease as you charge transactions and subsequently pay down the balance (credit cards and other lines of credit). Installment: The balance on the account is paid off in monthly payments. Current: You're up-to-date on your payments. Payment calendars For each debt account, you'll see a calendar that has information about your past monthly payments. In my experience, this is usually the hardest part of the credit report to read, particularly if you've never seen a credit report before. But it's actually pretty easy to understand with a little information. For each month on the calendar, there will be a note that represents the status of your account. Here's a breakdown of the notes you might see: Green box or "OK": You made your payment as agreed. Numbers: Numbers, such as 30 or 60, represent how many days late you were/are on the payment. On some reports, the numbers appear in yellow or red circles. Blank: The creditor did not report your account information that month. This does not reflect negatively on you. Other: Any other note usually means the account was closed due to severely overdue payments. For example, "C/O" means it was charged off, and "COL" means it went to collections. Some credit reports have keys that are helpful, since they explain the meaning of each note that appears on that report. Public records This section is where bankruptcies are recorded. (In the past, certain other public records such as civil judgments and tax liens were also included, but these no longer appear on credit reports.) If you've filed Chapter 7 bankruptcy, it will appear here for 10 years after you file. Chapter 13 bankruptcy stays on your reports for seven years after the date you file. Collections If you have an unpaid debt or an overdue bill, and the account gets sent to collections, it could show up in the collections section of your credit reports or the "Adverse accounts" section. The collections section will have important information for anyone who wants to settle their debt, and for people who want to verify that a debt collector is telling them the truth about their debt. This includes: Contact information for the collection agency Name of the original creditor Original amount owed Current balance Date the account is scheduled to be removed from your reports Inquiries Inquiries refer to instances where a person or company pulls your credit reports. There are two types of credit inquiries you may see on your reports, and each one impacts your credit scores differently: Regular or 'hard' inquiries: Your credit was pulled in order to determine if you qualify for new credit. Hard inquiries typically have a minimal impact on your credit. However, many hard inquiries within a short period of time can have a larger negative effect on your credit (with the exception of rate shopping), though the effects lessen with time and generally fall off your reports within two years. Account review or 'soft' inquiries: Your credit was pulled for informational purposes. For example, you pulled your own credit reports. These inquiries do not impact your credit scores. Summary of rights At the end of your credit reports, you'll see a long list of information about your rights as a consumer. If you find an error in your credit report, this section provides instructions on how to file a dispute, which is the process for getting incorrect information updated or removed from your reports. Up Next Up Next More tips for reading credit reports In my experience reviewing thousands of credit reports with consumers, I've found that most people find their reports confusing and even overwhelming at first. Here are a few more tips to make the experience manageable. Don't let long reports scare you Most credit reports are just a few pages long, but for people who took out federal student loans several years back, for example, their reports can be dozens of pages long due to the detailed payment calendars. If this is you, try not to panic when you see your reports. As long as the information is correct, the length of your credit reports is nothing to worry about! Be confident in what you know Regardless of the length of your credit reports, the most important thing to remember is that credit reports should only reflect the facts. If you slow down and read each item one by one, you'll start to realize that you're already aware of most of the information, even if you've forgotten some of the details. Ask for help If you give your credit reports a good read and you're still a little confused (which is not terribly uncommon), you can get professional help. Set up a free call with an NFCC-certified credit counselor, and they'll help you break down the details. Why your credit reports matter A healthy credit report is like a passport to financial opportunity. If you've managed your debt responsibly, your credit reports will show that, and you're more likely to be approved for good credit cards and loans, and even for new apartments or certain jobs. If you've missed lots of debt payments or you have multiple accounts in collections, the negative information will follow you for several years. On top of that, your credit score calculation is based on the information in your credit reports. And if you don't have good credit scores, you'll pay higher interest rates on new credit, or you may simply be denied when you apply. How to get copies of your credit reports There are tons of sites online that sell credit reports, and some will even give you one of your reports for free. But the only source I recommend using is This website is a federally backed service that lets you pull your full credit reports, not just summaries, from all three credit bureaus for free. You can pull each of them once a week, although you don't need to review them that often (once a year is fine for most people). If you're unable to pull your reports via the website, you may be prompted to send in a request by mail. But before you do that, try calling 877-322-8228 to see if you can request the reports by phone instead.
Daily Mirror
13-07-2025
- Climate
- Daily Mirror
Heatwave relief on the way for Brits after temperatures soar hotter than Brazil
Showers are predicted for many parts of the country this week, but the mercury could rise again next weekend, with highs of 30C forecast in London and the South East Brits sweltering in the midst of the latest UK heatwave are facing some relief as the period, which saw temperatures higher than in Brazil, is coming to an end after a blistering spell of hot weather. A cooler Monday has been forecast after Scotland, Wales and Northern Ireland recorded their hottest day of the year so far. Showers are predicted for many parts of the country this week. But the mercury could rise again next weekend, with highs of 30C forecast in London and the South East. The latest heatwave has prompted a nationwide inspection of workplaces organised by the TUC. More than 1,000 trade union health and safety reps have signed up to check that workers are able to cope with the heatwave. Working in hot weather can lead to dehydration, tiredness, muscle cramps, fainting, and - in the most extreme cases - loss of consciousness. Trade union reps will check workplace temperatures, and will discuss with employers the protective steps they can take, including keeping buildings cool, shaded areas for outdoor workers and allowing flexible hours. TUC general secretary Paul Nowak said: "Everyone should be safe at work. But working in a heatwave can be dangerous, especially when your employer wants you to carry on regardless. "That's why union reps are taking action this week to keep their workmates safe in the heat, and it's why we're calling on the government to strengthen legal protections with a maximum working temperature. A lot of the best safety steps are just common sense. For example, employers should allow flexible hours to avoid the hottest parts of the day. And indoor workplaces should be kept at comfortable temperatures, with relaxed dress codes." The third heatwave of the summer hit its peak at the weekend. Temperatures hit 32.2C in Aviemore on Saturday, the hottest day ever recorded there. It was only the 7th time the temperature had been that high in Scotland since 1961. In Wales, a high of 33.1C was recorded at Cardiff's Bute Park. In Northern Ireland, it was 30C in Londonderry. It resulted in two weather-related deaths in Scotland. In Glasgow, a 15-year-old boy died in the River Kelvin. Hours earlier, a 63-year-old woman fell by a waterfall in East Dunbartonshire. The National Fire Chiefs Council (NFCC) asked people not to enter water to try to cool down. And they urged parents and carers to ensure children are supervised around water at all times. Phil Garrigan, NFCC chairman, said: 'We are urging people to take simple but vital safety precautions to protect themselves and their loved ones during this period of hot, dry weather. Our experience tells us that wildfires can start in an instant and escalate rapidly. That's why we're asking everyone to stay alert and act responsibly." Today, London (30C) was hotter than Barcelona (29C) Bangalore (27C) and Brasilia (24C) in Brazil. Amber heat health alerts were in place for the Midlands and the south east to 10am Monday. The alert warns of a potential rise in deaths, particularly among those aged 65 and over or with health conditions. Beachgoers enjoyed temperatures of around 31C (87.8F) in England. But the forecast was for the mercury to dip marginally to bring some relief. Met Office meteorologist Kathryn Chalk said: "While we've seen the peak of the heat in this heatwave, it's still going to be very warm on Sunday before turning cooler for many of us on Monday. So we've got this ridge of high pressure extending across the UK, helping to keep things settled, but out towards the west an area of low pressure moving through Sunday night and into Monday. Temperatures will be falling away but also bring heavy spells of rain, or welcome rainfall, for many of us." Firefighters in Surrey tackled a wildfire on Hankley Common in Thursley, which spanned approximately eight hectares. Scottish fire crews tackled a wildfire in Perth near the M90 in the Craigend area, due to an "extreme" wildfire. HM Coastguard also issued safety advice for people heading to the coast, saying data shows most drownings occurred in July over the past three years. Harrow Council warned of an increase of sudden branch drop syndrome, made worse by the heat waves. A pod of dolphins performed an incredible aerial acrobatic display for delighted tourists off the UK coast. The 12 mammals leapt into the air while hunting for a fish supper in the waters around Amble, Northumberland. Pensioner Linda Johnson couldn't believe her luck when the pod came just 50m (164ft) away from the town's pier. One photo appeared to show one dolphin balancing another on its nose as they leap and dive beneath the waves. Showers are forecast across many parts of the UK by Wednesday, some of which could be heavy and thundery
Daily Record
13-07-2025
- Climate
- Daily Record
ITV's Dr Amir Khan reveals two tricks to get a sound sleep during the heatwave
Soaring UK temperatures are making it harder to sleep, with Scotland hitting its hottest day in over two years As temperatures soar across the UK, many are finding it harder than ever to get a decent night's sleep. With sweat-soaked sheets and stifling bedrooms becoming the norm, it's no surprise that countless people are struggling to drift off. Scotland, in particular, has just recorded its hottest day in over two years. The Met Office confirmed that Aviemore reached a scorching 30C, marking the third heatwave of the summer and the highest temperature since 13 June 2023. But help is at hand. ITV's resident doctor, Amir Khan, has shared two simple hacks that could make all the difference during these sweltering nights, Mirror reports. Appearing on Lorraine, the GP offered practical and cost-effective advice to help viewers cool down when it matters most, at bedtime. 'My two really practical top tips,' Dr Khan said, 'If you've got a fan at home, don't just blow hot air around, get a bowl of ice or frozen peas, [and] put it under the fan. "As the air blows over it, it will cool the air, and you'll have a really efficient and free air conditioning system.' He continued: 'Step number two, get a pair of socks. Put them in a plastic Ziploc bag, put them in the freezer an hour before bed, because it's really hard to sleep when it's this hot. Put those socks on before you get into bed. "It will cool your body down, and you'll have a much better night's sleep tonight." The clip has been widely shared online, with many social media users praising the advice. 'Top tips for the cost of living crisis,' one commenter wrote. Another simply added: 'Brilliant advice.' Others joined in with: 'Love the socks idea' and 'Thank you for sharing.' The intense heat has prompted official warnings. The UK Health Security Agency (UKHSA) has issued yellow heat alerts in place until Monday across the North East, North West, and Yorkshire and Humber. Meanwhile, the National Fire Chiefs Council (NFCC) has issued a strong safety message urging people not to enter open water to cool down, warning of the serious risks, especially to children. NFCC chairman Phil Garrigan said: 'We are urging people to take simple but vital safety precautions to protect themselves and their loved ones during this period of hot, dry weather.' Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. HM Coastguard echoed the warning, reminding the public to stay vigilant near the coast. According to data from the water incident database, most drownings in the UK have occurred in July over the past three years. There's science behind the struggle for sleep. When we prepare for rest, our core body temperature naturally drops, helping us to wind down. But high temperatures can interfere with this cooling process, leaving many restless and exhausted. According to the NHS, most healthy adults need around seven to nine hours of sleep each night, though individual needs can vary. 'Teenagers, children and babies need more sleep because they are still growing,' the website explains, 'but that varies, too, with a newborn sleeping anywhere between eight to 16 hours.' Sleep issues can be caused by anything from health conditions and stress to big life changes like becoming a new parent. While occasional restlessness is normal, ongoing problems that affect daily life may require professional support.
The Herald Scotland
12-07-2025
- Climate
- The Herald Scotland
Scotland, Northern Ireland and Wales record warmest day of the year in heatwave
Meanwhile, it was 30C in Magilligan, marking the first time the milestone had been reached in Northern Ireland since July 18 2022. It's been a widely hot day, with Northern Ireland, Scotland, and Wales all seeing their highest temperature of the year so far 🌡️ — Met Office (@metoffice) July 12, 2025 And temperatures in Wales soared to 33.1C in Cardiff's Bute Park, beating the 2025 record set on Friday of 32.4C at the same location. Although England has been hot, with maximum temperatures also hitting 33.1C in Ross-on-Wye in Herefordshire, it did not break the country's current record for the year of 35.8C – recorded in Kent at the beginning of July. The average temperatures for this time of year across the UK range between 18C and 22C. Amber heat health alerts are in place for the Midlands and southern and eastern England until 9am on Monday, warning of the potential for a rise in deaths, particularly among those aged 65 and over or with health conditions. A swimmer in the Sky Pool, a transparent swimming pool 35 metres above ground between two apartment buildings in Nine Elms, south London (James Manning/PA) Tennis fans have been struggling in the heat at Wimbledon for the past few days, with play experiencing brief disruptions as spectators needed medical assistance. When temperatures were forecast to rise on Saturday, the All England Club said it significantly increased the number of on-screen communications and push notifications to remind guests to stay hydrated and seek respite from the sun. The club also said service stewards on court have access to water for spectators in need, that on-site medical teams are ready to assist when required and that the grounds have more than 100 free water refill points as well as a pharmacy where guests can buy sunscreen. Fire chiefs urged people to stay safe as they warned of the increased risk of wildfires and drowning. People enjoying the hot weather in Vauxhall Park, south London (James Manning/PA) The National Fire Chiefs Council (NFCC) asked people not to enter water to try to cool down and urged parents and carers to ensure children are supervised around water at all times. Phil Garrigan, NFCC chairman, said: 'We are urging people to take simple but vital safety precautions to protect themselves and their loved ones during this period of hot, dry weather. 'Our experience tells us that wildfires can start in an instant and escalate rapidly. That's why we're asking everyone to stay alert and act responsibly.' HM Coastguard also issued safety advice for people heading to the coast, as data from the water incident database shows most drownings happened in July over the last three years. People have enjoyed the water and sunbathing at Clevedon Marine Lake in Somerset (Ben Birchall/PA) As well as the amber alerts, the UK Health Security Agency (UKHSA) has yellow alerts in place until Monday for the North East, North West and Yorkshire and Humber. Yorkshire Water brought in restrictions on using hosepipes for activities such as watering the garden, cleaning cars and filling paddling pools, on Friday, as part of efforts to protect supplies in the face of yet more dry weather forecast for the coming weeks. South East Water said demand for drinking water had reached 'record levels since May', adding: 'This situation has left us with no choice but to restrict the use of hosepipes and sprinklers, so we can help our reservoirs and underground water storage recover.' It means customers in Kent and Sussex are banned from using a hosepipe to water gardens and plants, clean vehicles, fill swimming pools or ponds or clean paths, walls or windows from July 18. (PA Graphics) Those who ignore the bans could face fines of up to £1,000. The London Fire Brigade said it has responded to 24 wildfires this year, five of which occurred this week, including one in Manor Park, east London, on Friday, where 70 firefighters fought to tackle a grass fire on Wanstead Flats. The risk of wildfires in London is currently rated 'severe' by the Natural Hazards Partnership. Meanwhile, Scottish fire crews spent a second day tackling a wildfire in Perth near the M90 in the Craigend area, as an 'extreme' wildfire warning is in place for much of the nation. (PA Graphics) National Rail warned train passengers that the hot weather may cause disruption this weekend. 'Heat can cause overhead lines to expand and sag, rails to buckle, and also line-side fires,' it said on its website. Meanwhile, the RNLI warned beachgoers that, despite the heat, there is still a risk of cold water shock. Ross Macleod, the charity's water safety manager, said: 'Even in hot weather, the seas around our coasts are cold enough year-round to trigger cold water shock, while waves and rip currents can overpower even the most experienced water users.'
