Latest news with #creditreport
Gulf Business
11 hours ago
- Business
- Gulf Business
DubaiNow app users can now access their credit report, credit score
Image: Getty Images/ For illustrative purposes The Etihad Credit Bureau (ECB), the UAE's federal entity for credit information and analytics, has announced a strategic partnership with DubaiNow, the Dubai government's unified smart services platform, allowing users to access their credit report and credit score directly through the app. The integration enables individuals to retrieve their credit data with a single click, significantly enhancing user convenience and digital accessibility. 'Etihad Credit Bureau is committed to advancing the UAE's digital transformation agenda by fostering integration across local government platforms,' said Marwan Ahmad Lutfi, director general of Etihad Credit Bureau. 'By leveraging advanced technology and seamless APIs, we've made it easier than ever to stay informed about your credit health through the digital channels individuals use most.' DubaiNow offers over 300 services Image courtesy DubaiNow website Matar Al Hemeiri, chief executive of the Digital Dubai Government Establishment, said: 'We are pleased to announce the joining of Etihad Credit Bureau to the DubaiNow application, enabling users to easily and quickly access their credit information anytime. This step embodies Etihad Credit Bureau's leading position and reflects its commitment to advancing the digitalisation of life in the UAE.' The initiative aligns with the UAE's national strategy, 'We the UAE 2031', which envisions a pioneering digital ecosystem that supports modern lifestyles and a robust digital economy. Etihad Credit Bureau's integration with DubaiNow follows earlier efforts such as its service linkage with Both entities say the partnership will encourage informed decision-making and promote financial literacy among UAE residents, while laying the groundwork for deeper intergovernmental digital collaborations.
Arabian Business
3 days ago
- Business
- Arabian Business
Dubai residents can now instantly check credit scores online
Dubai residents can now check their credit reports and scores directly through the DubaiNow app, thanks to a new integration with the Etihad Credit Bureau. The collaboration between Etihad Credit Bureau (ECB) and DubaiNow, the UAE's leading unified government services app, allows users to access their personal Credit Report and Credit Score in real time with a single click—simplifying financial planning and enhancing digital accessibility. DubaiNow offers more than 300 integrated services from both government and private sector entities. With the new feature, users can log in to the app and instantly view their credit insights—supporting informed financial decisions and streamlining access to key personal data. Check your Dubai credit score Marwan Ahmad Lutfi, Director General of Etihad Credit Bureau, said: 'Etihad Credit Bureau is committed to advancing the UAE's digital transformation agenda by fostering integration across local government platforms. 'This collaboration with DubaiNow exemplifies our mission to simplify access to vital credit information while enhancing user experience. 'By leveraging advanced technology and seamless application programming interfaces (APIs), we've made it easier than ever to stay informed about your credit health through the digital channels individuals use most. The initiative aligns with the UAE's 'We the UAE 2031' vision, which aims to build a pioneering digital society. Matar Al Hemeiri, Chief Executive, Digital Dubai Government Establishment, said: 'We are pleased to announce the joining of Etihad Credit Bureau to the 'Dubai Now' application, enabling users to easily and quickly access their credit information anytime. 'This step embodies Etihad Credit Bureau's leading position and reflects its commitment to advancing the digitalization of life in the United Arab Emirates, thereby facilitating people's lives and supporting the foundations of the digital economy.' This is not the first time Etihad Credit Bureau has joined forces with a digital platform. The bureau's previous integration with TAMM Abu Dhabi proved successful, and this new partnership with DubaiNow underscores ECB's continued commitment to broadening access and efficiency across the Emirates. Benefits of the integration include:
New York Times
4 days ago
- Business
- New York Times
No, a TikTok Trick Won't Erase Student Loan Debt
TikTok videos, some with tens of thousands of views, are claiming that borrowers can have all their student loans erased by following a few simple steps. 'I just got approved today, and I don't really know what approved means,' one TikToker says in a video posted in April. She explained that she disputed the line on her credit report that referred to her student debt, and had it removed from the credit report. 'Does that mean I'm not going to have to make payments?' she says. The answer is clear, experts say: No. Left unpaid, experts warn, these loans can inflict severe long-term financial damage. Even though parts of the federal student loan system are in flux, borrowers are still on the hook for student loans, even if some have them wiped from credit reports by disputing them. Here's what to know: What are the videos saying? One TikTok video that has racked up more than 200,000 views begins: 'This is how to delete your student loans.' Some videos claim that because the so-called Department of Government Efficiency, the Trump administration's federal cost-cutting initiative, gained access to student loan data, student borrowers can file a complaint about violation of privacy rights (under the Family Educational Rights and Privacy Act, known as FERPA) and have their student debt erased. Other videos state that student loan borrowers can erase their debt merely by disputing it on their credit reports, which usually make reference to the loans. Want all of The Times? Subscribe.
CTV News
09-06-2025
- Business
- CTV News
‘No one wants to see that on their credit report': Direct Energy customers frustrated after being mistakenly reported to credit bureau
'I was so stressed out,' said Terri Wattie, a Calgary resident who recently found a derogatory mark on her credit report, courtesy of Direct Energy. She said she received an email from her credit monitoring app on May 30, alerting her of the mark. 'It didn't equal up,' said Wattie, adding that she always pays her bills on time. 'No one wants to see that on their credit report. It's quite humiliating to get an email like that.' Wattie didn't know the derogatory mark on her credit report was a mistake until she read CTV News Edmonton's story about the incident. 'If it wasn't for that, I honestly would not have had any idea what was going on because Direct Energy did not reach out to me,' said Wattie. In a statement, Direct Energy confirmed that during a reconciliation with its third-party collections agency, ICE Collections, a 'subset' of customers were 'inadvertently' reported to the credit bureau. CTV News Edmonton reached out to ICE Collections but did not receive a response. Kristy Kolodychuk also received a notification from her credit monitoring app, alerting her that a Direct Energy bill had gone to collections. The Fort Saskatchewan resident hasn't been a Direct Energy customer since February 2024. 'I never got any correspondence from Direct Energy,' said Kolodychuk, adding that the company sent her an email after she had called them and asked for one for her records. 'I'm just very surprised that a company like this has some kind of privacy breach and doesn't actually individually reach out to their customers or at least send a mass email the moment it happens,' said Kolodychuk. Direct Energy said the incident was not a breach. 'We want to assure customers that they were not subject to any collections activities,' said Megan Talley of Direct Energy. Had she been trying to get a mortgage or a loan, Kolodychuk said she would be in some 'serious trouble.' Wattie and her husband were planning to buy a new car in the coming weeks. The couple was worried the derogatory mark on their credit report would impact their interest rates. 'If we were applying for a mortgage, everything could have gone out the window,' said Wattie. 'I don't think they realize how much of a stressful situation this is for people.' Direct Energy plagued with problems Since moving customer service centres to foreign countries, customer complaints have ballooned. Lea Williams-Doherty reports. Since the incident on May 30, both Kolodychuk's and Wattie's credit reports were wiped clean of the derogatory mark. 'All erroneous entries have been completely expunged from customers' credit reports,' said Talley. 'It's as if it was never there.' Talley said only those who were actively monitoring their credit reports would have noticed. Direct Energy did not make reports of the incident, and said it was made aware by customers contacting the company directly. Since Kolodychuk hasn't been a Direct Energy customer for over a year, the utilities company agreed to send her a cheque with the $200 credit. But she was perplexed as to why they would still have her information on file. 'Our record retention policy is informed by legal and audit obligations,' said Talley. 'For former Direct Energy customers, that ranges from three to seven years, depending on the type of record.' Wattie was told she would receive a $200 credit to use on her bill as compensation for the incident. But she doesn't think it's enough. '$200 in this day and age is nothing,' said Wattie. 'Half the time, $200 doesn't even cover half of a month's bill.' 'For the stress and anguish I went through over the last week, I really don't think that's sufficient.' She said she might consider a different provider after this incident. Direct Energy said it was sorry for the inconvenience, and if customers still have concerns, to contact its customer service team. Equifax Canada encourages consumers to request and review their credit reports on a regular basis. 'By doing this, consumers can ensure that their report contains accurate and complete information,' said a statement from Equifax Canada. Equifax said if a consumer finds information on their credit report that is believed to be inaccurate or incomplete, they can file a dispute with Equifax and/or the company that reported it.
Yahoo
01-06-2025
- Business
- Yahoo
Can you pay to remove negative items from your credit report?
A pay-for-delete agreement is a credit repair tactic that could help erase collection accounts from your credit report. It involves offering to settle your debt in exchange for the collection agency deleting the account from your credit report. Credit bureaus discourage the practice, and there are other ways to clean up your report. Debts in collections typically stay on your credit report for seven years and can harm your score for as long as they appear. Some credit repair tactics can potentially get collection accounts taken off of your credit report sooner, but that's generally only if the information is inaccurate. Some people may recommend asking for a pay-for-delete agreement if you have an unpaid account in collections. The practice, however, falls into a legal gray area, and newer credit scoring models make pay-for-deletes less relevant. A pay-for-delete is a negotiation tactic between a consumer with outstanding debt and the third-party collection agency trying to recover the unpaid debt. Not all collection agencies will consider pay-for-delete agreements, but some are willing to negotiate. The negotiation process starts with you calling or writing to the collection agency to ask for a pay-for-delete arrangement. You offer to pay the balance as long as the collection agency agrees to remove the paid account from your credit file. Some collection agencies will agree to negotiate because they only make money when they successfully recover unpaid debt, and a pay-for-delete agreement can be a way to recover debts that might otherwise go unpaid. Others won't negotiate, citing their responsibility under the Fair Credit Reporting Act to provide accurate, complete information to the credit bureaus. If a collection agency accepts your pay-for-delete offer, it will likely expect the payment within a relatively short time frame. After you make the agreed-upon payment, the collection agency should contact the credit bureaus to have the paid account deleted. The goal of a pay-for-delete agreement is to improve your credit score. However, the tactic may be less effective than it used to be thanks to the way some newer credit scoring models handle collection accounts. There are two main types of credit scoring models — FICO and VantageScore. Some FICO models consider paid collections, so a pay-for-delete could make a difference. FICO Score 8, the FICO score lenders most often use, can lower your score if there is a collection on your credit report, regardless of whether the account was paid. In this model, negotiating pay-for-delete can benefit your credit. VantageScore ignores paid collections. That's also the case with newer versions of the FICO model — FICO Scores 9 and 10. FICO states its new models ignore all collections reported as paid in full. With these models, a pay-for-delete doesn't improve your score because there's no penalty for having a paid collection account on your report. No version of the FICO score considers paid medical collection debt or unpaid medical collection debt under $500. Unpaid medical debts over $500 still count, but they have less impact on FICO Scores 9 and 10. A collection agency that agrees to a pay-for-delete can remove the account it reported. That said, any negative information the original creditor reported will likely remain on your report, and could continue to hurt your credit score. For example, imagine you missed multiple payments on your credit card, and the issuer charged off the account before sending the debt to collections. A pay-for-delete could remove the collection account, but the missed payments and charge-off account would stay on your credit report for seven years. Pay-for-delete agreements fall into a legal gray area for collection agencies, and credit bureaus discourage the practice. For those reasons, not all collection agencies will consider pay-for-delete offers. You might find this credit repair tactic isn't worth the hassle. That said, everyone's credit repair journey is different, and it might make sense to ask for a pay-for-delete agreement in some cases. For example, you might negotiate a pay-for-delete if you want to improve your credit score as quickly as possible so you can buy a house or apply for a premium credit card. Overall, your best course of action is to continue building your credit score. Newer actions on your credit are weighed more heavily than older items. The best way to raise your credit score is to consistently use good credit practices, like making all payments on time and improving your debt-to-income ratio. To be effective, a pay-for-delete letter should clearly outline your offer to pay in exchange for the collection agency removing the account from your credit reports. Some companies offer sample pay-for-delete letters you can use as a template. If you prefer to write a letter, include the following information: Account number. Include the collections account number to help the agency quickly find your file. Contact information. Provide your name, address, email address and phone number so the collection agency can reach you to discuss the letter. Payment offer. State the amount you're willing to pay to settle the account and the payment method. It may be possible to negotiate to pay less than the full amount owed. Request debt removal. Request that the collection agency delete the debt from your credit report in exchange for payment. Timeframe to respond. Give the collection agency a deadline to respond to your offer, such as within 30 days. Mail your letter to the collection agency that owns your debt. You can find its mailing address on the debt collection letters it has sent you. Keep in mind: Don't pay for a template for a pay-for-delete letter template. You don't need to use a particular format as long as the information is there. Paying for a template isn't going to make it more likely for your request to be granted. A pay-for-delete letter is not the only way to get a collection account removed from your credit report. Depending on your situation, other options include filing a dispute with the credit bureaus, requesting a goodwill deletion or simply waiting for the account to fall off your report. If you see things on your credit report that are inaccurate, dispute them. That includes collection accounts that belong to someone else or old collection accounts still on your report after seven years. The three credit bureaus — Equifax, Experian and TransUnion — work independently. You may need to file a dispute with each bureau reporting the error. All three accept disputes by phone, by mail and through their websites. After receiving your dispute, the credit bureaus typically have 30 days to investigate the issue. They'll send a letter informing you of their decision. If your dispute is successful, the error will be removed from your report. Consider asking for a goodwill deletion if you have already paid the amount and the account is closed. Write the collection agency a letter asking it to remove the negative mark from your credit history as a goodwill gesture. Explain the circumstances that led to the original account delinquency and why you want the collection account removed. Remember, a goodwill letter is a request for a favor. The collection agency is not required to help you clean up your credit file, but there's no harm in asking. If the collection account is being accurately reported, and the agency will not remove it, it won't stay on your report forever. The negative mark will disappear from your credit report when it expires. Collection accounts are removed from your credit report after seven years, whether the debt was paid or not. The seven-year clock starts from the date the original debt became delinquent unless you do something that restarts the clock, such as making a payment. Pay-for-delete agreements are controversial, and collection agencies may not be willing to negotiate. There are other ways to deal with the negative mark on your credit report. You could file a dispute with the credit bureaus if there's an error, pay the debt and ask for a goodwill deletion or get help from a credit repair company if you need help with disputing inaccurate items. Do pay-for-delete letters really work? Some people say they've had success with pay-for-delete letters, though your results will vary. Some collection agencies are not willing to negotiate pay-for-delete agreements. Other agencies are open to pay-for-delete agreements but may or may not accept your proposed terms. It may take time and persistence to reach an agreement. How can I find out what collection agency owns my debt? Accounts that have been sent to collections may change hands multiple times. To find out which collection agency now owns your debt, request copies of your credit reports from Your report will list all collections, including the current collection agency that owns the debt. Can you pay to wipe your credit history? While it's sometimes possible to negotiate a pay-for-delete with a collection agency, it's impossible to erase your entire credit report and start fresh. Negative items, such as missed payments, foreclosures and bankruptcies, will stay on your credit report until they eventually fall off. Some dishonest credit repair companies falsely claim they can erase negative accurate information or even get customers a new credit file. Steer clear of these offers to protect yourself from credit repair scams. Sign in to access your portfolio
