ALERTS NOTIFICATION USER GUIDE
|
|
- Julia Wilkinson
- 8 years ago
- Views:
Transcription
1 Page 1 of 10 ABOUT EQUIFAX ALERTS NOTIFICATION USER GUIDE Equifax Canada Inc. Box 190 Jean Talon Station Montreal, Quebec H1S 2Z2 Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers. Customers have trusted Equifax for over 100 years to deliver innovative solutions with the highest integrity and reliability. Businesses - large and small - rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being. Headquartered in Atlanta, Georgia, Equifax Inc. employs approximately 6,900 people in 14 countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor's (S&P) 500 Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX. Equifax is a registered trademark of Equifax Inc., Atlanta, Georgia. All rights reserved. For more information visit
2 Page 2 of 10 CONTENTS: ALERTS AND DEFINITIONS.3 FREQUENTLY ASKED QUESTIONS 4 GLOSSARY OF TERMS..5
3 Page 3 of 10 Credit alerts help you detect and respond to potential fraud by monitoring specific changes to your credit file. We will monitor your credit file on a daily basis and notify you via or via text messaging of additions to your credit summary. It is important that you review these changes to ensure that they are legitimate and not the result of fraudulent activity. Alerts and Definitions: What is an alert? An alert is created and ed to notify you of additions to your credit file based upon specific changes to your credit summary. Equifax Canada monitors your credit file every business day. You will be promptly alerted to new inquiries on your credit file, so you can act quickly, should you suspect fraudulent activity. More specifically, you will receive alerts when any of the following occurs: Address Change: To alert you if the address on file is reported as changed. The address is deemed to have changed if there is more or less information than previous in the address line. For example, if there is a change in Postal Code or in city. New Inquiry: To alert you if a lender has obtained a copy of the report in order to evaluate an application for credit made in your name. Name Change: To alert you if there has been a name change registered to your credit file. This is indicated by a change in the last name or first character of your first name. New Trade added: To alert you if a new debt obligation has been opened in your name within the last 3 months since you registered for monitoring services. New Collection Item: To alert you if a debt obligation has been classified as in collections for an amount of at least $200. This amount can be paid or unpaid or both. New Bankruptcy added: To alert you that a bankruptcy has been added to your Credit Report during the last 4 months. This is important as bankruptcies will lower your credit rating and your eligibility to borrow at favorable interest rates in the future. Derogatory added: To alert you of a foreclosure, judgment or garnishment public record within the last 3 months
4 Page 4 of 10 FREQUENTLY ASKED QUESTIONS: How will I know if there is a change to my file? You will receive an or text message notifying you of a change. Once you receive the simply log into your account to view the changes. What if I already know about the change? The alerts are to simply notify you that we have seen a specific change to your credit file. If you are aware of the change just log in and view the change. If you are not familiar with the change let us know and we will work with you to investigate. Our customer service team is available to answer your questions.
5 Page 5 of 10 GLOSSARY OF TERMS ACCOUNT NUMBER - A reference number assigned to an individual s account by either a creditor or collection agency. ACCOUNT HISTORY - Shows payment history on a month-to-month basis for the last 24 months. Abbreviations, which are defined under DEFINITIONS: Account History located at the bottom of each page of your profile, are used to describe your payment status each month including the most recent month reported. ACCOUNT STATUS - Shows the current status of your account and may indicate delinquencies that were reported in the past seven years. ACTIVE ACCOUNT - An account for which activity has been reported to a Credit Reporting Agency in the last 90 days. ALIAS - A name reported in your credit file that differs from your primary or given name. This commonly occurs if you've applied for credit or loans under different variations of your name -- "Robert P. Smith" and "Bob Smith," for example. ALIAS is sometimes referred to as Also Known As (AKA). AMORTIZATION - The reduction of a mortgage loan by regular payments. AMOUNT DUE - Generally, the minimum monthly payment you must make, not the total amount you owe. ANNUAL FEE - The yearly fee charged by a lender to maintain an account. ANNUAL PERCENTAGE RATE (APR) - The cost of credit at a yearly rate. Knowing the APR allows you to effectively compare loans, even when they are structured differently. ASSET - Any holding that has a monetary value or use. Houses, real estate, cars, jewelry, and stocks & bonds are considered assets. AUTHORIZED USER - A person allowed to charge goods and services on a credit card by the primary user of that card. Authorized users -- unlike users of a joint account -- are not legally responsible for payment. AVAILABLE CREDIT - On a credit account, the credit limit minus the current balance. To many creditors, your total available credit on all your accounts is an important factor. BALANCE AMOUNT - Amount due to the creditor at the time account information was last reported.
6 Page 6 of 10 BALANCE - The outstanding amount owed to a creditor on a particular account. BALANCE DATE - The last date the file was updated by the Credit Reporting agency with creditor information. CLOSED ACCOUNT - An account that has been closed by you or your creditor. Such accounts remain on your Credit Report for seven years from the date of last activity. COLLECTION AGENCY - A firm assigned by a creditor to collect overdue amounts. Some creditors have internal collection departments. Like creditors, collection agencies report account information to consumer reporting agencies. CONSOLIDATION LOAN - A loan obtained in order to combine multiple debts into one, typically at a lower interest rate. CONSUMER - An individual who purchases products and services. CONSUMER DEBT - Debt incurred for items that aren't considered tangible investments such as credit card debt, car loans, and personal loans made by family members. CONSUMER STATEMENT - Under the Fair Credit Reporting Act, you have the right to add a consumer statement to your credit file to explain disputed information about your accounts. CREDIT CARD - A card used to make purchases or take out cash loans that require the user to pay some or the entire outstanding amount each month. Credit cards are differentiated mainly by their terms. CREDIT CARD ISSUER - A bank or other institution that extends consumers credit through a credit card. CREDIT FILE - A record of an individual s credit payment history as reported at a Credit Reporting agency. The credit file is a collection of an individual s credit history, indentifying information, and other records maintained by a Credit Reporting agency. Credit File is sometimes used interchangeably with Credit Report, but technically a credit file is the source from which a Credit Report is generated. CREDIT HISTORY - A record of how a consumer has paid credit accounts in the past. It is used as a guide to determine whether or not the consumer is likely to pay future accounts on time. CREDIT LIMIT/CREDIT LINE - The amount of credit issued by a lender. CREDIT PROFILE - A compilation of credit information presented in an easy-to-read format.
7 Page 7 of 10 CREDIT REPORT - A report that a prospective lender or employer obtains from a consumer reporting agency that displays the manner in which a consumer has met his or her past credit obligations. It is used to help determine creditworthiness of the potential borrower or to confirm identity of an individual. CREDIT REPORTING AGENCY - Also known as a credit bureau. An organization that compiles information from various financial institutions and courts to create an individual s credit file. CREDIT SCORE - A score based on variables in your credit file that is indicative of your credit worthiness. CREDITOR - A person or business from whom you borrow or to whom you owe money. CURRENT RATINGS - Shows total of all account types that are currently delinquent 30, 60, or 90 days. DATE ON FILE - Date your credit file was started. DATE OPEN - Date account was opened. DATE PAID - Date account was satisfied. DATE OF STATUS - Date account status was last updated. DELINQUENCY - A debt on which payment is overdue. DISCHARGE - To release a debtor from responsibility for a debt, often as a result of bankruptcy. DISMISSED BANKRUPTCY - An instance in which a judge has ruled against a consumer's petition for bankruptcy, sometimes at the consumer's request. Such cases are recorded in the public records section of the consumer's Credit Report, and the debts covered in the bankruptcy remain outstanding. DISPUTE - To question the accuracy of information in a Credit Report. FILING DATE - Date item was filed with the courts. FORECLOSURE: The legal process by which a creditor may sell mortgaged property to recover a defaulted mortgage. FRAUD ALERT - If you suspect that you're the victim of identity theft or credit fraud, you may contact the Credit Reporting agencies and place a fraud alert on your credit file. Such an alert
8 will prevent new credit accounts from being opened without your express permission. Page 8 of 10 HARD INQUIRY - An indication on your credit file that a lender has obtained a copy of the report in order to evaluate your loan or credit application. An excess of hard inquiries within a six-month period may lower your credit rating. HIGH/LIMIT - The highest balance since the account was opened or the limit on the account. HISTORY RATINGS - Shows the total of all account types that were delinquent 30, 60, or 90 days in the past seven years. INQUIRY - A request for a copy of your credit file, usually from a bank(s), landlord(s), potential employer(s), mortgage broker(s), or the institution(s) from whom you ve applied for credit. Too many inquiries may be considered a negative factor as it suggests that you are becoming overextended. Inquiries made by companies for marketing purposes have no impact on your credit rating and are not included here. See also hard inquiry and soft inquiry. INQUIRY DATE - Date your credit file was requested. INSTALLMENT ACCOUNT - An account with a fixed payment for the term of the loan. INSTALLMENT LOAN - A credit account in which the debt is divided into amounts to be paid successively at specified intervals set by the terms of the loan. INVESTIGATION - The process a Credit Reporting company undertakes in order to verify Credit Report information disputed by a consumer. For more information, see correcting inaccuracies on your Credit Report. JOINT ACCOUNT - A credit or loan account held by two or more people. All account holders assume legal responsibility for the repayment of the account. JOINT CREDIT REPORT - A combined report created by merging the credit files of joint applicants and used by creditors to assess a joint application for credit, usually involving a mortgage. Note that the credit files remain separate. JUDGMENT -A determination by a court of law that, in the case of credit, may require a person to fulfill an obligation -- to pay a debt, for example. When a judgment has been satisfied (i.e. the debt has been paid or settled), the consumer has fulfilled its requirements and is no longer liable. Information about judgments is recorded in the public records section of a Credit Report. LENDER - A company that lends money to consumers or enables them to make purchases on credit. Sometimes used interchangeably with creditor.
9 Page 9 of 10 LIABILITY - In the context of credit, legal responsibility for the repayment of a debt. LIEN - A legal claim upon real or personal property as security for or payment of a debt. LOAN TYPE - Type of loan for which an inquiry was made. MINIMUM PAYMENT - The smallest payment you can make on a revolving credit account to maintain your account status as being paid as agreed. MONTHLY PAYMENT - Average monthly payment reported to the Credit Reporting agencymay be estimated by the agency if not reported by the creditor. (This may be indicated by an asterisk * ). MORTGAGE - A loan designed to facilitate the purchase of a home, in which the home itself serves as security for the loan. If the borrower doesn't make the required payments, the lender may through a legal process known as foreclosure, sell the home in order to recover the amount owed on the mortgage. "Mortgage" can also refer to the legal document detailing the borrower's responsibilities, including the payment schedule and terms. NET 30 ACCOUNT - An account where the balance must be paid in full at the end of 30 days. OPEN ACCOUNT - An account that is currently in use. ORIGINAL CREDITOR - Shows the original creditor that turned the account over to the collection agency. OWNERSHIP - Designation by a lender of an individual responsible for payment of an account. PAST DUE AMOUNT - Amount currently past due. PRIMARY USER - The person under whose name a credit card account is listed. A primary user can authorize other people to use the account, but the primary user is ultimately responsible for repaying all charges. PRIOR DELINQUENCIES - Date account was last reported delinquent. PUBLIC RECORD - Information obtained from court records about such things as tax liens, bankruptcy filings and judgments against you in civil actions. REAL ESTATE ACCOUNT - A fixed payment account involving ownership of property (such as mortgage payments). REVOLVING ACCOUNT - An account where a balance can be carried over from month to month.
10 Page 10 of 10 SOCIAL INSURANCE NUMBER (SIN) - The unique nine-digit number assigned to every legal resident of the Canada. Because no two people are assigned the same number, the SIN is usually the main identifying factor in a person's records, including Credit Reports. SOFT INQUIRY - An instance in which your credit report is accessed without affecting your credit rating. Soft inquiries include your own requests for your credit report, promotional inquiries by credit card companies, and "checkup" inquiries by your existing creditors. Inquiries associated with your credit monitoring services are soft inquiries. TAX LIEN - A charge upon real estate or personal property for the satisfaction of a debt or duty ordinarily arising by operation of law. TERM - The amount of time in which a loan must be repaid in full TRADELINE NAME - Account name. TRADES OPENED - New account(s) opened.
CREDIT SCORE USER GUIDE
Page 1 of 11 ABOUT EQUIFAX Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial
More informationCREDIT REPORT USER GUIDE
Page 1 of 17 ABOUT EQUIFAX CREDIT REPORT USER GUIDE Equifax Canada Inc. Box 190 Jean Talon Station Montreal, Quebec H1S 2Z2 Equifax empowers businesses and consumers with information they can trust. A
More informationAll About Credit Reports from A to Z
All About Credit Reports from A to Z Adverse Action Notice A notice that you have been denied credit, employment, insurance, or other benefits based on information in a credit report. The notice should
More informationIntroduction to Credit
Introduction to Credit Put simply, credit is the reputation for repaying debts on time. The better your credit, the more willing companies and people will be to lend you money, issue you a credit card,
More informationHow To Check Your Credit Report For Not Credit History
Your Credit Report P.O. Box 15128 Spokane Valley, WA 99215 800.852.5316 www.hzcu.org You may not think about them every day, but your credit report and the three little digits that make up your credit
More informationLending 101 The Basics
Lending 101 The Basics Overview Loan categories Credit types Different loan types Interest rate Applying for a loan Credit & credit reports Simple loan tips Test Loan Categories Secured loan - a loan that
More informationCredit Scores. www.howtogainwealth.com. Copyright 2009 How to Gain Wealth. All rights reserved.
Credit Scores Why is my Credit Score important? Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses
More informationYour Credit Report. 595 Market Street, 16th Floor San Francisco, CA 94105 888.456.2227 www.balancepro.net
Your Credit Report 750. 670. 620. 575. You may not think about them every day, but your credit report and the three little digits that make up your credit score probably influence your life in many ways.
More informationYour Credit Report. 595 Market Street, 16th Floor San Francisco, CA 94105 888.456.2227 www.balancepro.net
Your Credit Report 750. 670. 620. 575. You may not think about them every day, but your credit reports and the three little digits that make up your credit score probably influence your life in many ways.
More informationCREDIT IN A NEW COUNTRY:
CREDIT IN A NEW COUNTRY: A GUIDE TO CREDIT IN CANADA A free publication provided by Consolidated Credit Counseling Services of Canada, Inc., a registered charitable credit counselling and debt management
More information5 Simple Steps to Maintaining a Healthy Credit Score. An Experian white paper
5 Simple Steps to Maintaining a Healthy Credit Score An Experian white paper Introduction As a business owner you realise the importance of credit. Being at the centre point of the credit flow you need
More informationBuilding a CREDIT REPORT. Federal Trade Commission consumer.ftc.gov
Building a CREDIT REPORT Federal Trade Commission consumer.ftc.gov Shopping for a car? Applying for a job? Looking for a home? Getting your financial house in order? It s time to check your credit report.
More informationCREDIT REPORTS WHAT EVERY CONSUMER SHOULD KNOW ABOUT MORTGAGE EQUITY P A R T N E R S
F WHAT EVERY CONSUMER SHOULD KNOW ABOUT CREDIT REPORTS MORTGAGE EQUITY P A R T N E R S Your Leaders in Lending B The information contained herein is for informational purposes only. The algorithymes and
More informationUNDERSTANDING YOUR CREDIT REPORT (Part 1) By Bill Taylor
UNDERSTANDING YOUR CREDIT REPORT (Part 1) By Bill Taylor Most studies about consumer debt have only focused on credit cards and mortgages. However, personal debt also may include medical expenses, school
More informationYour Credit Report. Trade lines. The bulk of a credit report is dedicated to your history of handling credit. It includes:
Your Credit Report The three major credit bureaus in the United States are Experian, TransUnion, and Equifax. These companies acquire data from banks, credit unions, mortgage lenders, and retail establishments.
More informationManaging Your Credit Report and Scores. Apprisen. 800.355.2227 www.apprisen.com
Managing Your Credit Report and Scores Apprisen 800.355.2227 www.apprisen.com Managing Your Credit Report and Scores Your credit score is one of the most important aspects of your personal finances. From
More informationBusinessIQ Premier Profile
BusinessIQ SM Premier Profile Make business decisions with accuracy and speed BusinessIQ Premier Profile SM is a comprehensive business report that facilitates better decision making by supplying you with
More informationwww.olsonadvisory.net Credit Repair Kit
www.olsonadvisory.net Credit Rating Credit Scores Clearing Credit Mistakes Registering a Dispute Clearing Open Collection Accounts Sample Letters Credit Repair Kit Re-Aging Accounts Building Credit Letters
More informationUnderstanding and managing your credit
Understanding and managing your credit Overview Understanding how credit works and how it affects your chances of getting approved for a loan is important. In this presentation, you ll learn helpful ways
More informationGREENPATH FINANCIAL WELLNESS SERIES
GREENPATH FINANCIAL WELLNESS SERIES UNDERSTANDING YOUR CREDIT REPORT & SCORE Through financial knowledge and expertise, we provide high-quality products and services that enable people to enjoy a better
More informationCREDIT REPORTING FOR A SMALL BUSINESS
CREDIT REPORTING FOR A SMALL BUSINESS Objectives Northern Initiatives is committed to entrepreneurs like you, because you are the people who are creating jobs and enabling the communities of our region
More informationPARTICIPANT GUIDE. Education Curriculum. Money. Smart. '\ \ I = ~ Financial / I ' ""I
PARTICIPANT GUIDE ""I '\ \ I = ~ Financial / I ' Education Curriculum Money Smart Table of Contents Welcome... 4 What Do You Know? Credit Reporting for a Small Business... 5 Pre-Test... 6 Credit Reporting...
More informationUnderstanding Your Credit Report
Understanding Your Credit Report What is credit? Credit is the use of someone else s money in exchange for a promise to pay it back on a given date. There are two major types of credit: Revolving and Installment.
More informationBalanceTrack. The World of Credit Reports
BalanceTrack The World of Credit Reports Credit reports and credit scores influence our lives in many ways. Your history of credit management can affect the cost of the credit you receive, your ability
More informationCredit Histories & Credit Scores
Credit Histories & Credit Scores Credit Histories - Definition A continuing record of a borrower s debt commitments and how well they have been honored. (Similar to a transcript) Credit Score - Definition
More informationIntroduction. Purpose. Student Introductions. Agenda and Ground Rules. Objectives
Introduction Instructor and student introductions. Module overview. 1 2 Your name. Student Introductions Your expectations, questions, and concerns about credit. Purpose will: Show you how to read a credit
More informationOFFICE OF ADOLESCENT SERVICES CREDIT REPORTS PRACTICE AND PROCEDURES GUIDE COMPANION TO DCF POLICY 42-20-2
OFFICE OF ADOLESCENT SERVICES CREDIT REPORTS PRACTICE AND PROCEDURES GUIDE COMPANION TO DCF POLICY 42-20-2 The Policy Using procedures developed by the DCF Fiscal Services Division (FSD) and the three
More informationCredit Reporting FOR A SMALL BUSINESS
Credit Reporting FOR A SMALL BUSINESS Welcome 1. Agenda 2. Ground Rules 3. Introductions Objectives Explain the concept of credit reporting and the impact of credit reports on the operation or growth of
More informationTracking Your Credit History By Mark Schug
By Mark Schug Financial institutions (banks, savings and loan associations, credit unions, and consumer finance companies) are private, profit seeking businesses. They expect to be paid back most of the
More informationUsing Credit to Your Advantage
Hands on Banking Using Credit to Your Advantage Credit Reports, Credit Scores and Dealing with Debt The Hands on Banking program is a free public service provided by Wells Fargo. You may also access the
More informationWelcome. 1. Agenda. 2. Ground Rules. 3. Introductions. To Your Credit 2
To Your Credit Welcome 1. Agenda 2. Ground Rules 3. Introductions To Your Credit 2 Objectives Define credit Explain why credit is important Describe the purpose of a credit report and how it is used Order
More informationUsing Credit to Your Advantage.
Using Credit to Your Advantage. Topic Overview. The Using Credit To Your Advantage topic will provide participants with all the basic information they need to understand credit what it is and how to make
More informationLESSON: Understanding credit and your credit report
LESSON: Understanding credit and your credit report 70 minutes Financial Literacy Outcome At the end of this lesson, students will: describe the impact of credit history and credit reports on their future
More informationCredit Score and Report Overview
Credit Score and Report Overview Have you ever wondered how your credit score is calculated? Have you ever asked, but are always given vague answers? I will tell you exactly how credit scores are determined
More informationUnderstanding Your Credit Report
What Is a Credit Report? Understanding Your Credit Report A credit report is a record of your history of credit-card debt and other loan repayment. It shows how much debt you have and if you pay on or
More informationCredit arrangements can be formal or informal. The three most common types of credit used by consumers are described below.
1-888-842-6328 For toll-free numbers when overseas, visit Collect internationally 1-703-255-8837 TDD for hearing impaired 1-888-869-5863 Credit Wise Credit: a Useful Tool Most of us use consumer credit
More informationRepair Your Credit. Step1: Start where you are. Rebuilding Good Credit
REPAIR YOUR CREDIT A free publication provided by Consolidated Credit Counseling Services of Canada, Inc., a registered charitable credit counselling and debt management organization. Consolidated Credit
More informationTravis County Credit Union MasterCard Credit Card Agreement & Truth in Lending Disclosure
Travis County Credit Union MasterCard Credit Card Agreement & Truth in Lending Disclosure Please retain for personal records This is your MasterCard Credit Card Agreement and Truth-In-Lending disclosure.
More informationWhat s in My Credit Report?... 1. Taking Care of Your Score... 3. How Do I Get Credit?... 4. Understanding Credit Cards... 5
The Credit 411 Contents What s in My Credit Report?... 1 Taking Care of Your Score... How Do I Get Credit?... 4 Understanding Credit Cards... 5 Protecting Your Credit... Thinking About Filing Bankruptcy?...
More informationEmpowering Brokers to Identify and Combat Mortgage Fraud
Empowering Brokers to Identify and Combat Mortgage Fraud An Equifax White Paper October 2007 Author: Paul Wills Equifax Global Product Management Introduction In today s lending environment, mortgage fraud
More informationYOUR GOOD CREDIT The Importance of Your Credit Report and Your Credit Score Maintain Good Credit Combat Identity Theft FACT Act Rights
YOUR GOOD CREDIT The Importance of Your Credit Report and Your Credit Score Maintain Good Credit Combat Identity Theft FACT Act Rights WHY YOU NEED TO KNOW ABOUT CREDIT REPORTS & CREDIT SCORES Having good
More informationCredit History CREDIT REPORTS CREDIT SCORES BUILDING A STRONG CREDIT REPORT
CREDIT What You Should Know About... Credit History CREDIT REPORTS CREDIT SCORES BUILDING A STRONG CREDIT REPORT YourMoneyCounts Understanding what your credit history is what s in it, what s not in it
More informationThe ABCs of Credit Credit Scores Establishing Credit Maintaining Good Credit Credit Cards Managing Credit Challenges
The ABCs of Credit Credit Scores Establishing Credit Maintaining Good Credit Credit Cards Managing Credit Challenges CREDIT DEFINITIONS Credit Trust given to another person for future payment of a loan,
More informationInsurance Score Models
Insurance Score Models Prepared by State of Alaska Division of Insurance Department of Community and Economic Development www.dced.state.ak.us/insurance (907) 465-2020 Insurance Score Models Some insurers
More informationR E PA I R YOUR CREDIT
R E PA I R YOUR CREDIT A free publication provided by Consolidated Credit Counseling Services of Canada, Inc., a registered charitable credit counselling and debt management organization. Consolidated
More informationChapter Objectives. Chapter 6. Short Term Credit Management. Major Topics. Reasons for Using Credit. How to Get Credit. Disadvantages of Using Credit
Chapter Objectives Chapter 6. Short Term Credit Management To evaluate reasons for and against using credit and decide whether or not credit is appropriate for you. To be able to take the necessary steps
More informationCredit Report The single most important document for protection against identity theft.
Understanding your Credit Report The single most important document for protection against identity theft. What to do if you spot errors A recent study shows that 79 percent of credit reports contained
More informationThe AFI Resource Center is pleased to provide this presentation about credit reports.
The AFI Resource Center is pleased to provide this presentation about credit reports. This is one of several presentations developed for AFI grantees on a variety of financial education topics, including
More informationOffice of Student Financial Management
September 2013 Office of Student Financial Management Kasia Palm: Director of Student Financial Management What is Credit? - The ability to obtain goods/services before payment based on the trust that
More informationImproving a Credit Profile
Improving a Credit Profile Steps to improving a credit profile STEP 1. Order your credit Report STEP 2. Evaluate & develop a plan STEP 3. Is the personal information accurate? STEP 4. Are the tradelines
More informationStudent Loans and Credit Reports
Student Loans and Credit Reports Presented by: Debbie Murphy We Will Discuss: The role of credit in personal finance Review of credit terms and factors Impact of student loans on reports and scores Next
More informationYour Credit File Explained
Your Credit File Explained Information to guide you through your credit file August 2014 These guidelines will help you to understand your credit file. You should have a copy of your credit file on hand
More informationDo You Know. Your Credit Rights? Federal Reserve Bank of Philadelphia
Do You Know Your Credit Rights? Federal Reserve Bank of Philadelphia 1 C redit can play an important role in your daily life. For example, you may use a credit card to make purchases, or you may obtain
More information12 common questions. About consumer credit and direct marketing
12 common questions About consumer credit and direct marketing Most of us don t think about credit until a specific event sparks our interest. Maybe we want to buy a car or home. Or perhaps we receive
More informationMortgage Forgiveness Debt Relief Act. Cancellation of Debt (COD) Income. Recourse Loan 10/6/2014. Consequences of the expiration of the act
Mortgage Forgiveness Debt Relief Act Consequences of the expiration of the act Cancellation of Debt (COD) Income When a loan is forgiven without being paid back, COD Income is created. That amount is included
More informationCredit Report Forensics. Boston University Financial Assistance February 15, 2012 Christina Coviello, Senior Assistant Director
Credit Report Forensics Boston University Financial Assistance February 15, 2012 Christina Coviello, Senior Assistant Director Today s Agenda: What is credit? What is a credit report? How to get a copy
More informationAccount a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account.
Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account. Account fee the amount charged by a financial institution for the
More informationOffice of Student Financial Management
February 2015 Office of Student Financial Management Kasia Palm: Director of Student Financial Management What is Credit? - The ability to obtain goods/services before payment based on the trust that a
More informationCredit. 3.3-A General Requirements_. 3.3-B Credit Analysis. Section 3.3: Credit
Credit 3.3-A General Requirements_ Obtain at least one, preferably two or three, credit scores for each borrower; all available scores must be obtained. The scores must be obtained from all major repositories
More informationFinancial Awareness Survey Report Massachusetts Office of Consumer Affairs and Business Regulation
Financial Awareness Survey Report Massachusetts Office of Consumer Affairs and Business Regulation Introduction Understanding and managing one s personal finances are important, particularly during a time
More informationStudent Loans and Credit Reports
Student Loans and Credit Reports We Will Discuss The role of credit in personal finance Review of credit terms and factors Impact of student loans on reports and scores Next steps you can take to encourage
More informationBankruptcy Guide for Beginners
Bankruptcy Guide for Beginners Answers to 20 common bankruptcy questions We hope you find this guide useful and informative. We look forward to helping you eliminate debt and get a fresh financial start.
More informationMORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another.
MORTGAGE TERMS Acceleration Clause This is a clause used in a mortgage that can be enforced to make the entire amount of the loan and any interest due immediately. This is usually stipulated if you default
More informationEquifax Reports Fourth Quarter and Full Year 2008 Results; Provides First Quarter 2009 Guidance
1550 Peachtree Street, N.W. Atlanta, Georgia 30309 NEWS RELEASE Contact: Jeff Dodge Tim Klein Investor Relations Media Relations (404) 885-8804 (404) 885-8555 jeff.dodge@equifax.com tim.klein@equifax.com
More informationBuying with credit lets you purchase something and use it while you are still paying for it.
8) Credit Buying with credit lets you purchase something and use it while you are still paying for it. There are two common types of credit: Credit Cards Offered by credit card companies, department stores
More informationBankruptcy Q&A. When filing a bankruptcy there are several different chapters under which you can file:
Bankruptcy Q&A Chapter 7: What types of bankruptcy are available? When filing a bankruptcy there are several different chapters under which you can file: This is the most basic bankruptcy and is available
More informationTHE BASICS OF CHAPTER 11 BANKRUPTCY
THE BASICS OF CHAPTER 11 BANKRUPTCY Bankruptcy is a legal proceeding in which a debtor declares an inability to pay consumer or business debts as they become due. Debtors may seek to be excused from continuing
More informationTopic 3 Credit Report
Topic 3 Credit Report Questions to Think About: What are the different types of credit and why is credit important? What are its advantages and disadvantages? What is a credit report? How do you read it
More informationCredit Workshop. What I need to know about credit and lending products of financial institutions. Financial Education Supported by:
Credit Workshop What I need to know about credit and lending products of financial institutions. Financial Education Supported by: Concept Checklist What will I learn today? [ ] What is Credit? [ ] Advantages/
More informationWhite Paper. Predictive Modeling for True-Name Fraud An Equifax Analytical Services Research Paper
White Paper Predictive Modeling for True-Name Fraud An Equifax Analytical Services Research Paper Dave Whitin, Consultant Michiko Wolcott, Statistician September 2006 Table of contents Executive summary...................................
More informationPNC Financial Education FINANCIAL OPS. Banking Solutions for Military Personnel. Credit: Self study Guide
PNC Financial Education FINANCIAL OPS Banking Solutions for Military Personnel Credit: Self study Guide Revision Date: 11/2012 PNC Financial Education:FINANCIAL OPS Understanding Credit We all have financial
More informationBusiness Funding Evaluation YOUR BUSINESS NAME
Business Funding Evaluation Prepared Exclusively For: YOUR BUSINESS NAME YOUR ADDRESS & CONTACT Prepared By: The Credit and Funding Pros Thank You For Allowing Us to Serve You! Business Funding Evaluation
More informationUnderstanding Credit Reports and Scores and How to Improve It!
Understanding Credit Reports and Scores and How to Improve It! Robin Minor, CCCC What Will We Cover? When we are finished, you will understand: Credit Reports and Credit Scores - What they are and how
More informationCredit Reports. published by AAA Fair Credit Foundation
Credit Reports published by AAA Fair Credit Foundation Credit Reports 1. What is a Credit Report?..........................................................2 2. What Your Credit Report Reveals About You...................................4
More informationBlueYield, Inc. Vehicle Loan Application Disclosures
BlueYield, Inc. Vehicle Loan Application Disclosures PLEASE PRINT AND RETAIN A COPY OF THIS AGREEMENT FOR YOUR RECORDS. By clicking on any button indicating submission of a BlueYield, Inc. ( BlueYield
More informationSection C. Borrower Credit Analysis Overview
Section C. Borrower Credit Analysis Overview In This Section This section contains the topics listed in the table below. Topic Topic Name See Page 1 General Guidelines for Analyzing Borrower 4-C-2 Credit
More informationUnderstanding Credit. UMassFive College Federal Credit Union
Understanding Credit UMassFive College Federal Credit Union Objectives Understand the role of credit bureaus Discuss the importance of your credit report Review the components of a credit score Explain
More informationWHAT YOU SHOULD KNOW ABOUT YOUR CHAPTER 13
WHAT YOU SHOULD KNOW ABOUT YOUR CHAPTER 13 (Revised January, 2002) This booklet was prepared to help you understand how your Chapter 13 case works and answer most questions that arise during your Chapter
More informationCredit Scoring and Its Role In Lending A Guide for the Mortgage Professional
Credit Scoring and Its Role In Lending A Guide for the Mortgage Professional How To Improve an Applicant's Credit Score There is no magic to improving an applicant's credit score. Credit scores automatically
More informationUnderstanding, managing, and rebuilding your credit
Understanding, managing, and rebuilding your credit Objective Bank of America is committed to providing information that will help you understand the effect credit can have on lending, and what you can
More informationCheck Your Credit Reports
Check Your Credit Reports When you apply for a credit card, loan or mortgage, the bank will check your credit history before making a decision to lend you the money. This information comes from the two
More informationHow to Use Credit. Latino Community Credit Union & Latino Community Development Center
How to Use Credit Latino Community Credit Union & Latino Community Development Center How to Use Credit Latino Community Credit Union & the Latino Community Development Center www.latinoccu.org Copyright
More informationUnderstanding Bankruptcy
Understanding Bankruptcy What is Bankruptcy? Bankruptcy is a legal process where an individual or organizational debtor is able to seek some financial relief. A fundamental goal of the federal bankruptcy
More informationCBCInnovis Infile Credit Report Reference Guide
1 2 3 4 5 6 6 7 7 8 A A A B C C C 9 D E F G H I J K 10 11 1 1 2 3 4 5 6 7 8 9 PROCESSING CENTER CONTACT INFORMATION: Please contact the Processing Center if you have any questions regarding a CBCInnovis
More informationAssets are items you own that have a monetary value such as property, car, shares, antiques or savings.
Debt Jargon Adverse credit If you fall into arrears or default on a loan or credit agreement, the resulting effect on your credit history is described as having adverse credit. This makes it harder or
More informationIdaho Financial Responsibility/Fitness FAQs
Idaho Financial Responsibility/Fitness FAQs The questions and answers provided here are for informational purposes only and should not be construed to address any specific situation or to constitute legal
More informationCredit Reports and Identity Theft
Credit Reports and Identity Theft Information in this packet concerning credit reports was gathered from the Consumer Financial Protection Bureau and can be found at www.consumerfinance.gov. Information
More informationHow to Improve and Maintain your Credit Score
How to Improve and Maintain your Credit Score Special points of interest: Factors that influence your credit score How your credit score is calculated Improving your credit score How to fix flawed credit
More informationEverything You Need to Know About Bankruptcy
Everything You Need to Know About Bankruptcy Raymond J. Sallum Bloomfield, Michigan http://bloomfieldlawgroup.com/chapter-7-bankruptcy B l o o m f i e l d L a w G r o u p R a y m o n d J. S a l l u m (
More informationFICO Score Factors Guide
Key score factors explain the top factors that affected your FICO Score. The order in which your FICO Score factors are listed is important. The first indicates the area that most affected your FICO Score
More informationTYPES OF BANKRUPTCY There are three main types of bankruptcy cases. These are referred to by their chapter number in the Bankruptcy Code.
SOME INFORMATION ABOUT BANKRUPTCY People who are having trouble paying their debts sometimes consider bankruptcy as a remedy for this situation. An individual, called a debtor, usually files bankruptcy
More informationUnderstanding a Credit Report! April 21, 2011. New York City Department of Consumer Affairs. All rights reserved.
Understanding a Credit Report! Questions to Think About What are the different types of credit and why is credit important? What is a credit report? How does credit impact future financial goals? 3 What
More informationBUSINESS LOAN PACKAGE. First Federal Bank of Florida
BUSINESS LOAN PACKAGE First Federal Bank of Florida BUSINESS CREDIT APPLICATION INFORMATION ABOUT THE BUSINESS: Legal Business Name Physical Address City State Zip Type of Organization: Sole Proprietorship
More informationFacts On Credit Bureaus
Facts On Credit Bureaus The following information relates to the understanding and use of a credit score. Listed are details regarding the determination of a credit score, how you can find out what your
More informationCredit ~ The Basics Participant s Guide
1 Credit ~ The Basics Participant s Guide Table of Contents Welcome Pre-Test What is Credit & Why is it Important? Types of Loans The Cost of Credit The Four C s of Credit Credit Reports Credit Scores
More informationCanadian Consumer Credit Trends. Q3 2014 Prepared by: Equifax Analytical Services
Canadian Consumer Credit Trends Q3 2014 Prepared by: Equifax Analytical Services About Equifax Inc. Equifax is a global leader in consumer, commercial and workforce information solutions that provide businesses
More informationUnderstanding Credit Reports and Scores and How to Improve it!
Understanding Credit Reports and Scores and How to Improve it! Apprisen What Will We Cover? When we are finished, you will understand: Credit Reports and Credit Scores - What they are and how they are
More informationBankruptcy. published by AAA Fair Credit Foundation
Bankruptcy published by AAA Fair Credit Foundation Bankruptcy 1. What is Bankruptcy?..............................................................3 2. Chapters of Bankruptcy...........................................................4
More informationWebinar #3: Effective Credit and Debt Management
1 Webinar #3: Effective Credit and Debt Management Sponsored by: Massachusetts Financial Literacy Trust Fund The Office of Massachusetts State Treasurer & Receiver General Facilitator: Jacqueline Cooper
More informationConquering Credit. The Do s and Don ts of Keeping Your Credit Squeaky Clean. Course Objectives Learn About:
Conquering Credit Course Objectives Learn About: Types of Credit How to Establish Credit Credit Score vs. Credit Report Avoiding Identity Theft The Do s and Don ts of Keeping Your Credit Squeaky Clean
More information