There are three main places of where you can obtain your very own Credit Report. They are Experian (formally TRW), then Equifax, and Trans Union.
A Report will provide you with information about your own Credit History. This will typically includes the following:
All past and present loans, such as House and Car loans. The Report will also have detailed information on any of your credit credit debts. Lastly they will have information on any other smaller loans.
It's important to understand what your report is exactly made up of. Here is a list of the following ingredients:
Payment History 35%
Amount Owed 30%
Length of Credit History 15%
New Credit 10%
Types of Credit Used 10%
Remember: If you don't ask for you Credit Score you can obtain these Credit Reports for Free.
Details on the main Bureaus
I've outline what the main Bureaus are now lets take a detailed look at them.
Experian (formally TRW)
Experian offers your own Report is quite large and employs over 15,500 people in 36 counties. They come to the US from the UK in 1986. Formally they were called TRW Credit and have acquired several of US companies - like Direct Tech and the Metromail Corporation. They have a good knowledge-about website with a Financial center to ask specific information.
Customer Reviews are very good - they have a 5 star rating on Consumer Intelligence website ciao.com where you can find further information. One point to note is that they have created each customer with a password to limit internet fraud on your account.
Equifax offers your own Report is slightly smaller then Experian in revenue and employers but not much, They started in 1899 and note that technological innovation has provided powerful solutions to their customers. On the Shopping Review website - epioions.com they have a 2 and a half rating out of five. Customer service is only two out of five. It has been detailed on this site that On-line reports and disputes, concise and easy to read mailed reports are their strong points and Printed on-line reports are incomplete, and they have many FCRA violations.
Trans Union offers your own Report is the other remaining Bureau. They originated in 1968 and have headquarters in Chicago. They maintain Credit Reports for over 500 Million consumers. They note that Honesty, they experience and they customer relationships are their hallmarks. One the shopping review site eopinions.com they are rated five out of five. There benefit include a Simple to order website and their information's easy to view and understand.
I hope this document provides you with a few tips and gives you information that will make you and expert on your own BReport for a strong finical future.
Three Bureau Credit Report
To get a bureau credit report, you can do so from one of three federally recognized credit bureaus: Equifax, Experian, or TransUnion. Each of these bureaus will allow you to get one free report- which means if you access all of them, you can get up to three free bureau credit reports per year. Be sure to take advantage of this fact, and keep an eye not only on your finances, but on your security. If you are working towards repairing your credit, these reports will become especially important.
Oh No- What's This, A Mistake?
It is vitally important to get a jump on correcting any mistakes, inaccuracies or questionable transactions on your credit report. The longer you put it off, the longer it will take to get to get things straightened out. In the meantime, your credit rating suffers. And thats just the highlight. You can be hounded by bill collectors for services and products you never paid for.
If you locate an error, you will need to send a request to the bureau to challenge the information. Such requests need to be hand-written. The credit bureau has 30 days to get back to you regarding your challenge. During this time, they will be contacting your creditors to verify or disqualify your claims. If they can't disprove your claim, they'll change the error in your favor.
As a borrower, you also have the right to have written statements included with your credit bureau repair report. These can be included as a permanent record in your report- for future lenders to read your side of the story. For instance, if you were involved in some type of natural disaster or other significant event which affected you substantially, but had never missed a loan payment previously, they may take this into serious consideration when considering lending to you.
What Its Not
Your credit bureau report will not unfortunately wipe away all details from your bad credit days- such as bankruptcies, repossessions and late payments. Changing such information is not legal.
A credit repair report is not a new or even a secondary file about your credit history. This information is also incredibly illegal- ranking with possession of fake I.D.'s and forged passports.
A word of warning- if you have to make changes to your bureau credit repair report, make sure those changes are actually included in your report. The most effective way to do so is to order another report.
Both John Mcfadden & William Blake are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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