Credit repair can be challenging enough since you must know your DOFD and make sure that the CR’s are not reporting from the DOLA. Also, is the CS you see a FAKO or a FICO? Should you get a regular CR to look for Derog’s or a CS (no, not that CS, the other CS!!!)
Yep, it can all be as clear as MUD (mud, object oriented or matter of opinion). Makes MEGO (my eyes glaze over) and I want to report it all to the AAAAA (the American Association Against Acronym Abuse!)
But seriously, you will see these acronyms and it is nice to have a clue what they may be talking about!
Here is our forever incomplete but as comprehensive as we could currently make it, list of favorite credit acronyms.
Yes, we’ll add more as they come to us. Any suggestions? Let us know!
ACDV’s = Automated Credit Dispute Verifications
AG = Attorney General
AR = Account Review (soft pulls by creditors)
ARM = Adjustable Rate Mortgage
AU = Authorized User
AUD’s = Automatated Universal Data Forms
BBB = Better Business Bureau
Beacon Score = See FICO.
BK = Bankruptcy
BK13 = Chapter 13 Bankruptcy
BK7 = Chapter 7 Bankruptcy
BT = Balance Transfer
BT promo = A BT at a promotional rate.
bumpage = pushing hard inquiries off your reports via daily credit pulls
C&D = Cease and Desist (stop collections)
C&D Full/Blanket = Notice to CA to never contact you in ANY way. Use only if the SOL has passed.
C&D Limited = Notice to CA to only contact you via mail.
CA = Collection Agency
CAP 1 = Capital One
CB = Credit Bureau
CBR = Credit Bureau Report
CC = Credit Card
CCC = Credit Card Company
CCCS = Consumer Credit Counseling Services
CE Score = CreditExpert score.
Ch = Chapter
Choppage = A CRA may delete inquires before you get to the bumpage point.
CK = Credit Keeper
CL = Credit Limit
CLOAKING/SUPPRESSED = The CRA suppresses the information and they will never allow the information be put back on your report by the credit card, loan company or the collection agency.
CM = Certified Mail
CMRRR = Certified Mail Return Receipt Requested
CO = Charge off OR Collections
Compliance Date = See FCRA Compliance Date.
CR = Credit Report
CRA = Credit Reporting Agency
CRO= Credit Repair Organization
CRRR = Certified mail, Return Receipt Requested
CS = Credit Score
CS = CreditSecure (Experian’s 3-in-1 report via AMEX)
CU = Credit Union
CW = Credit Watch
DC = Debt Collector
DDA = Direct Deposit Account
Derog = Derogatory tradeline-any listing on your credit file that is negative in any way.
DF = Data Furnisher (also FOI)
DMP = Debt Management Plan
DOFD= Date of First Delinquency
DOI = Department of Insurance
DOLA = Date of Last Activity
DTI = Debt to Income
DV = Debt Validation and Debt Verification
EFT = Electronic Funds Transfer
E-Oscar = Electronic online program developed by CRA’s to process ACDV’s (Automated Credit Dispute Verifications) and AUD’s (Automated Universal Data Forms)
EQ = Equifax
EQ CWG = Equifax Credit Watch Gold
ETA= Edited to Add
EX = Experian
Experica = Similar to FICO, as reported by TransUnion.
F/R = Financial Review. Creditor locking your account down until you provide further financial info to support your CLs (common AMEX term).
FACTA= Fair and Accurate Credit Transaction Act. Revisions to FCRA
Fair Isaac = Fair Isaac Corporation, the developer of the FICO score, the most commonly used credit scoring system in the United States.
FAKO = credit scores supplied by the credit bureaus that are only an estimate of your true FICO score. These can be off by as much as 100 points and they are not used by lenders but only as an estimate from the credit bureaus.
FCBA = Fair Credit Billing Act
FCRA = Fair Credit Reporting Act
FCRA Compliance Date = Often called “DOFD”, the date the reporting SOL is based off of (See DOFD).
FDCPA = Fair Debt Collection Practices Act
FHA = Federal Housing Administration, provides low down payment mortgages backed by the government.
FHLMC = The Federal Home Loan Mortgage Corporation or Freddie Mac. A quasi-governmental organization that buys mortgages on the secondary market.
FICO = Fair Isaac Company, the company that created the mathematical formula used to score credit worthiness of consumers
FICO Score = Fair Isaac Credit score, the most commonly used credit score in the United States
FIFO = First In, First Out. Usually refers to how your letters are answered.
FNMA = The Federal National Mortgage Association or Fannie Mae. A quasi-government organizations that buys mortgages on the secondary market.
FOI = Furnisher of Information
FRCP = Federal Rules of Civil Procedure
Freddie Mac = Federal Home Loan Mortgage Corporation (FHLM)
FTC = Federal Trade Commission.
GC = Green Card from Certified Mail
Goodwill adjustment = Adjustment made to your credit report in response to your Goodwill letter.
GW = Goodwill letter
Hard Inquiry = Inquiry visible to others and counted in your credit score.
HELOC = Home Equity Line of Credit
HIPAA = Health Insurance Portability & Accountability Act of 1996, Public Law 104-191
HUD- Housing and Urban Development, includes FHA
IIB = Included In Bankruptcy
Inq = Inquiry
ITS = Intent To Sue
JDB = Junk Debt Buyer
LOC = Line of credit
MCK = My Credit Keeper, a credit monitoring agency
OC = Original creditor
PFD = Pay for Delete
PG = PrivacyGuard.com, Credit monitoring, anti-identity-theft company
PIF = Paid In Full
PMI = Private Mortgage Insurance
PP = Permissible Purpose (to pull your credit report)
PR = Procedural Request–request how CRA verified
RCP= Rules of Civil Procedure
RE = Restrictive Endorsement (contractual check)
REPC = Real Estate Purchase Contract
RR = Return Reciept
RRR = Return Reciept Requested
SASE = Self-Addressed Stamped Envelope
SIF = Settled In Full
SOL = Statute of limitations
TILA = Truth in Lending Act
TL = Tradeline
TU = TransUnion
UCC = Uniformed Commercial Code
UDF = Universal Data Form