All of us have probably been informed that our credit report is a very important document. Its importance will increase if we have been denied credit and realize that we must repair poor credit.
You need to know that there are actually three major credit reporting agencies. These are: TransUnion, Equifax, and Experian. It is possible to receive a free copy of the report from each agency once a year. See freeannualcreditreport.com for information on how to obtain the three copies. You need all three because differences may be apparent.
The reports will have several sections. Know that there will not be personal private information about your race, worth, or salary included. There will be the usual identifying such as name, address, social security number in the first section.
There will be a section related to any credit lines. These credit lines will include loans, mortgages, credit cards, gas and department store cards. It will give the date each credit line was opened, credit limits, payment history (including late payments), balances, overdrawn bank accounts, and unpaid child support.
The court system also provides information to credit reporting agencies. Such reported information will include bankruptcies, divorce, judgments, and liens.
Any time that you fill out a credit application ( credit card, loan ) there will be a credit inquiry to one of the bureaus. If you inquire for yourself, it will be on the report. These inquiries will remain for 2 years.
There is no problem if your credit report is positive. However, any true negative comments will stay on the report for 7 years. Bankruptcies stay on for 10 years.
Request those credit reports from all 3 agencies. Compare the reports, be aware of discrepancies and fix errors. We have a personal responsibility to monitor our own credit profile, fix mistakes and, if needed, repair our credit. - 15224
You need to know that there are actually three major credit reporting agencies. These are: TransUnion, Equifax, and Experian. It is possible to receive a free copy of the report from each agency once a year. See freeannualcreditreport.com for information on how to obtain the three copies. You need all three because differences may be apparent.
The reports will have several sections. Know that there will not be personal private information about your race, worth, or salary included. There will be the usual identifying such as name, address, social security number in the first section.
There will be a section related to any credit lines. These credit lines will include loans, mortgages, credit cards, gas and department store cards. It will give the date each credit line was opened, credit limits, payment history (including late payments), balances, overdrawn bank accounts, and unpaid child support.
The court system also provides information to credit reporting agencies. Such reported information will include bankruptcies, divorce, judgments, and liens.
Any time that you fill out a credit application ( credit card, loan ) there will be a credit inquiry to one of the bureaus. If you inquire for yourself, it will be on the report. These inquiries will remain for 2 years.
There is no problem if your credit report is positive. However, any true negative comments will stay on the report for 7 years. Bankruptcies stay on for 10 years.
Request those credit reports from all 3 agencies. Compare the reports, be aware of discrepancies and fix errors. We have a personal responsibility to monitor our own credit profile, fix mistakes and, if needed, repair our credit. - 15224
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With unprecedented problems in the credit markets it's more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
