Your Credit Report. Trade lines. The bulk of a credit report is dedicated to your history of handling credit. It includes:

Size: px
Start display at page:

Download "Your Credit Report. Trade lines. The bulk of a credit report is dedicated to your history of handling credit. It includes:"

Transcription

1 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. They also search court records for lawsuits, judgments, and bankruptcy filings and review county records for tax, judgment, mechanics, or other liens (legal claims). Credit bureaus provide reports to creditors, insurance companies, employers, landlords and anyone else who has a legitimate need for the information so they can make well-informed lending and business decisions. Credit Report Information A credit report is divided into four sections: personal identification, trade lines, public record, and inquiries. When reading your report, make sure that the information in each area is accurate. Personal identification. Most reports begin with your personal identification information. It will list your name and any former names or aliases, your current address and former addresses, and sometimes your employment history and marital status. Trade lines. The bulk of a credit report is dedicated to your history of handling credit. It includes: Creditors and account numbers The date accounts were opened Credit limits or original balances Whether accounts are individually or jointly held Balances and payment patterns for the last 24 to 36 months If accounts are in collections or in dispute Public records. The public records section will report information about lawsuits to which you are a party, liens or legal claims on your property, bankruptcies, and past due child or spousal support. Inquiries. Your credit report will show the names of all those who have requested your report for at least the past year. A history of your applications for loans or credit will be evident in this section as well.

2 Credit Scores A credit score is a numerical guide that is representative of lending risk. It is determined by your past credit usage, and is used by lenders to evaluate your credit application. Only information from your credit report that can predict future credit performance is used to determine a score. Scores generally range from 300 to 850, with higher numbers indicating a lower risk. A common model was developed by Fair, Isaac and Company. They issue a FICO score, which is based on many factors, including (in order of greatest weight) payment history, amounts owed, length of credit history, pursuit of new credit, and types of credit in use. As your credit activity changes, so too does your score. Scores reflect payment patterns, with more emphasis placed on recent activity. By paying bills on time, keeping balances low (particularly in relation to the account limit), and only applying for and opening new accounts as needed, you can increase your score over time. Improve Your Credit Report Negative information, if accurate, cannot be removed from your credit report until it is time to drop off. You can, however, improve your credit report by taking action today. Develop a debt repayment plan. If you have high consumer debt, develop a plan to repay it. Suspend charging or borrowing, reduce your interest rates, and pay as much as you can each month until the balances are at zero. For help in developing a realistic repayment schedule or budget, call BALANCE at Pay collection accounts. Accounts that have been charged off (written off as bad debts by a creditor) and sold to a collection agency are harmful to a credit report, even if the amount owed is small. While you can t change the past, you can improve the future by paying it and having it reflected as a satisfied debt. Use credit wisely. The fastest way to build a positive credit history is to use credit responsibly. However, since it can be difficult to qualify for an unsecured credit card if you have a history of payment problems, consider: A secured credit card. With a secured credit card, you put funds on hold with a lender, and they issue you a credit card with a credit line equal to your deposit. If you make timely payments for approximately one year, the creditor may release the security funds and issue you an unsecured card. A co-signer. Another option is to have someone with a good credit history cosign your loan or credit application. If you take this route, make good on the debt, since late payments will reflect poorly on both of your credit reports. Credit Report Regulation Credit bureaus are regulated by the Federal Trade Commission, and must comply with the Fair Credit Reporting Act (FCRA). This federal law guarantees you specific rights: The right to access your reports. If you have been denied credit, a loan, insurance, or employment because of information on your credit report, the company that turned you down is required to inform you of that reason, and provide the name of the bureau they used. You are entitled to a free copy of that report (within 60 days).

3 You may also receive a free copy of your credit report from each of the three bureaus once a year (or anytime you suspect identity theft has occurred) from Annual Credit Report Request Service, or directly from the credit bureaus if you are unemployed, on public assistance, or if your report is inaccurate due to fraud. You may access it at any other time from the bureaus for a fee. Annual Credit Report Request Service P.O. Box Atlanta, GA Experian P.O. Box 2104 Allen, TX TransUnion P.O. Box 390 Springfield, PA Equifax P.O. Box Atlanta, GA The right to accuracy. It is the credit bureau s responsibility to report only correct information. If you discover inaccuracies, file a dispute with the bureau (see Fixing Errors, below). The right to explain yourself. In one hundred words or fewer, you can explain your side of a credit problem. This 100-word statement won t change your score, but it could make a positive difference to whoever is reading the report. Write the note clearly, include supportive facts, and send it to the bureaus to be attached to your report. The right to have negative information age-off. While positive information can remain on a credit report indefinitely, most negative information will eventually age off. Reports may reflect lawsuits, judgments, liens, foreclosures, Chapter 13 bankruptcy (from date of filing), late payments or any other negative information for seven years from the time it was reported. For accounts in collection agencies, the period begins on the date the account was written off by the original creditor. Chapter 7 bankruptcy remains on a credit report for ten years from the date of filing. Child support arrearage and default notations for student loans can be reported until satisfied. The right to privacy. Only those with a need recognized by the FCRA may access your reports. This is usually a creditor, insurer, landlord or other business. Current and prospective employers must have written consent from you before accessing your report.

4 The right to seek damages. If you believe a credit bureau, a business that provides information to the bureau, or a user of the information contained in your report violates the FCRA, you can file a complaint with the Federal Trade Commission. You may also have additional rights concerning your credit information under state law. Fixing Errors Mistakes do happen. Some causes of inaccuracies include mistaken identity or, more seriously, fraud. Be sure to have incorrect or outdated information investigated and removed: Step one. Either dispute the error on the credit bureau s website, or send a letter to the bureau explaining which information is wrong and what the right information is. Enclose supporting documents. The bureau has 30 days to investigate, during which time a dispute notation will show up on your report. Step two. The credit bureau must give you a written report of the investigation and a copy of your report if it results in any change. If an item is deleted or a dispute statement is filed, you may ask that anyone who has recently received your report be notified. Step three. If the investigation results in no change though the information is truly inaccurate, contact the creditor directly and request documentation of the debt. If you dispute an item with a creditor, they may not report the information without including a notice of your dispute. Once you have notified the creditor of the error in writing, they may not continue to report the information if it is, in fact, incorrect. Identity Theft If someone has applied for and received credit using your personal information, immediately contact the fraud units of the three credit bureaus and have a fraud alert attached to your file. Add the 100-word statement to your report explaining that your information was used illegally and include a phone number where you can be reached to verify new credit applications. When communicating with the credit bureaus, ask for the names and numbers of any creditors with whom fraudulent accounts have been opened you will need to alert these businesses of the crime. Have the bureaus notify anyone who has received your reports within the past six months of the erroneous information. Request copies of your credit reports every three months to verify accuracy. The Fair and Accurate Credit Transactions Act, a federal law was enacted to help in the fight against identity theft. As it applies to credit reports and credit bureaus, it ensures that: Identity theft victims who file police reports can block fraudulent information from appearing on their credit reports. Credit bureaus must ensure that all credit requests are legitimate after a credit report has been flagged for suspected identity theft.

5 Active duty military personnel may place special alerts on their files when they are deployed overseas.

Your Credit Report 595 Market Street, 16th Floor, San Francisco, CA

Your Credit Report 595 Market Street, 16th Floor, San Francisco, CA 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 information

Your Credit Report. P.O. Box 15128 Spokane Valley, WA 99215 800.852.5316 www.hzcu.org

Your Credit Report. P.O. Box 15128 Spokane Valley, WA 99215 800.852.5316 www.hzcu.org 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 information

Your Credit Report. 595 Market Street, 16th Floor San Francisco, CA 94105 888.456.2227 www.balancepro.net

Your 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 information

Your Credit Report. 595 Market Street, 16th Floor San Francisco, CA 94105 888.456.2227 www.balancepro.net

Your 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 information

Solving The Mystery of Credit Reports

Solving The Mystery of Credit Reports Solving The Mystery of Credit Reports 800.456.4828 www.tinkerfcu.org Credit reports and credit scores are increasingly important to our lives. They affect the cost of credit we receive, where we live,

More information

BalanceTrack. The World of Credit Reports

BalanceTrack. 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 information

YOUR 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 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 information

Credit Histories & Credit Scores

Credit 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 information

Do You Know. Your Credit Rights? Federal Reserve Bank of Philadelphia

Do 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 information

Credit Reports. published by AAA Fair Credit Foundation

Credit 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 information

Improve Your Credit Put Bad Credit Behind You

Improve Your Credit Put Bad Credit Behind You Improve Your Credit Put Bad Credit Behind You Improve your credit While it s possible to get by without credit, access to credit is essential for buying a home, financing a car or getting a credit card.

More information

Understanding Credit Reports and Scores and How to Improve it!

Understanding 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 information

Credit Reports Credit Scores. Understanding reports and scores Correcting errors Obtaining a free report

Credit Reports Credit Scores. Understanding reports and scores Correcting errors Obtaining a free report Credit Reports Credit Scores Understanding reports and scores Correcting errors Obtaining a free report What goes into your credit report...and who uses it? A A credit report is a summary of your financial

More information

CREDIT REPORT: Adapted from the National Consumer Law Center Inc s. brochure entitled, The Truth About Credit Reports and Credit Repair Companies.

CREDIT REPORT: Adapted from the National Consumer Law Center Inc s. brochure entitled, The Truth About Credit Reports and Credit Repair Companies. CREDIT REPORT: HOW TO CHECK YOUR CREDIT Getting a copy of your credit report is important because: it gives you an idea of what your credit history looks like, you can make sure that the information on

More information

Understanding Your Credit Report

Understanding 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 information

UNDERSTANDING YOUR CREDIT REPORT (Part 1) By Bill Taylor

UNDERSTANDING 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 information

Instructions for correcting errors with Advantage Credit when you have received a Statement of Credit Denial letter

Instructions for correcting errors with Advantage Credit when you have received a Statement of Credit Denial letter Dear Consumer or Borrower: This document contains the following information: 1. Instructions from Advantage Credit for correcting errors found on reports ordered through Advantage Credit, when you have

More information

Facts On Credit Bureaus

Facts 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 information

A Summary of Your Rights Under the Fair Credit Reporting Act

A Summary of Your Rights Under the Fair Credit Reporting Act Para información en español, visite www.consumerfinance.gov/learnmore http://www.consumerfinance.gov/learnmore/o escribe a la Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, DC 20552.

More information

Reviewing C Your Credit Report

Reviewing C Your Credit Report chapter 2 Reviewing C Your Credit Report What do your creditors have to say about the way you handle money? Having a good credit score can help you turn your home-buying dream into a reality. There s much

More information

How to improve your FICO Score in perilous times By Blair Ball. National Distribution of FICO Scores

How to improve your FICO Score in perilous times By Blair Ball. National Distribution of FICO Scores How to improve your FICO Score in perilous times By Blair Ball When you re applying for credit whether it s a credit card, a car loan, a personal loan or a mortgage lenders want to know your credit risk

More information

TABLE OF CONTENTS. CHAPTER 1: Credit Report.. Page 1. CHAPTER 2: Credit Score...Page 3. CHAPTER 3: Credit Reporting Agencies.

TABLE OF CONTENTS. CHAPTER 1: Credit Report.. Page 1. CHAPTER 2: Credit Score...Page 3. CHAPTER 3: Credit Reporting Agencies. TABLE OF CONTENTS CHAPTER 1: Credit Report.. Page 1 CHAPTER 2: Credit Score.....Page 3 CHAPTER 3: Credit Reporting Agencies.Page 6 CHAPTER 4: How to get a FREE Credit Report Page 8 CHAPTER 5: The 4 th

More information

Consumer Guides to Credit Reporting and Credit Scores (Appropriate for General Distribution)

Consumer Guides to Credit Reporting and Credit Scores (Appropriate for General Distribution) Appendix L Consumer Guides to Credit Reporting and Credit Scores (Appropriate for General Distribution) This appendix contains two consumer guides on credit reports and credit scores. The first guide summarizes

More information

Your Credit Report What It Says about You

Your Credit Report What It Says about You Your Credit Report Your Credit Report What It Says about You Most people finance their homes with mortgages and pay for their cars with loans. Young people often obtain loans to pay for college. And, of

More information

How 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 & Latino Community Development Center How to Use Credit Latino Community Credit Union & the Latino Community Development Center www.latinoccu.org Copyright

More information

February Office of Student Financial Management. Kasia Palm: Director of Student Financial Management

February Office of Student Financial Management. Kasia Palm: Director of Student Financial Management February 2016 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 payment

More information

Credit Report Info Packet

Credit Report Info Packet Credit Report Info Packet Information in this Packet What Is a Credit Report?.....................3 What Is a Credit Score?..................... 4 Who Can See Your Credit Report?.............. 5 Ordering

More information

What We Need to Know About. Credit Management & Credit Repair for Entrepreneurs

What We Need to Know About. Credit Management & Credit Repair for Entrepreneurs What We Need to Know About. Credit Management & Credit Repair for Entrepreneurs What is Credit? When someone lends you money, and you pay them back with interest, they have extended you credit. Credit

More information

Understanding Your Credit Report

Understanding 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 information

Credit Reports. Colorado Bureau of Investigation Identity Theft & Fraud Unit

Credit Reports. Colorado Bureau of Investigation Identity Theft & Fraud Unit Checking your credit reports annually is a great way to detect Financial. Early detection is important and will allow you to report and repair the damage quickly. By following a few simple steps, you will

More information

UNDERSTANDING Your CREDIT REPORT & SCORES

UNDERSTANDING Your CREDIT REPORT & SCORES UNDERSTANDING Your CREDIT REPORT & SCORES www.credit.org Promoting Financial Literacy About Springboard Springboard is a non-profit organization founded in 1974. We offer personal financial education and

More information

Understanding Credit Reports and Scores and How to Improve It!

Understanding 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 information

Credit Reports. published by AAA Fair Credit Foundation

Credit 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 3. Getting a Copy

More information

Credit Repair ebook. You don t have to pay money to repair your credit Our ebook will teach you: MagnifyMoney

Credit Repair ebook. You don t have to pay money to repair your credit Our ebook will teach you: MagnifyMoney MagnifyMoney Credit Repair ebook You don t have to pay money to repair your credit Our ebook will teach you: How to get your credit report, for free How to dispute incorrect information for free How to

More information

Credit report review checklist

Credit report review checklist Credit report review checklist Once you get your credit report, you will want to review it carefully. Ordering it is not enough you have to read it. Credit reports may have mistakes. And if there are mistakes,

More information

Webinar #3: Effective Credit and Debt Management

Webinar #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 information

What You Should Know About Your Credit Report

What You Should Know About Your Credit Report FACTS FOR National Consumer Law Center What You Should Know About Your Credit Report If you have ever applied for a credit card, a personal loan, insurance, or a job, there is probably a company keeping

More information

Earning Extra Credit. Understanding what it takes to maintain and manage good credit now and for your future

Earning Extra Credit. Understanding what it takes to maintain and manage good credit now and for your future Credit 101 Why Credit is Important 3 Your Credit Score 5 FICO Scoring - From Good to Bad 7 Credit Bureaus 8 Credit-Worthy vs. Credit-Ready 9 Are you Drowning in Debt? 10 2 Why Credit is Important College

More information

Understanding your Credit. Presented by:

Understanding your Credit. Presented by: Understanding your Credit Presented by: FICO Scores What is a FICO Score? What is a FICO Score? Simply stated a FICO Score is your financial photograph that is viewed every time you are in the market for

More information

Topic 3 Credit Report

Topic 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 information

Managing 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 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 information

UNDERSTANDING YOUR CREDIT REPORT. Understanding Your Credit Report Page 1

UNDERSTANDING YOUR CREDIT REPORT. Understanding Your Credit Report Page 1 UNDERSTANDING YOUR CREDIT REPORT Understanding Your Credit Report Page 1 SO YOU RE ABOUT TO APPLY FOR CREDIT, THE FIRST THING YOU LL WANT TO GET IS YOUR CREDIT REPORT FOR REVIEW ESPECIALLY FOR SOMETHING

More information

IDENTITY THEFT: PROTECTING YOUR CREDIT

IDENTITY THEFT: PROTECTING YOUR CREDIT IDENTITY THEFT: PROTECTING YOUR CREDIT Free Credit Report A recent amendment to the federal Fair Credit Reporting Act requires each of the nationwide consumer reporting companies to provide you with a

More information

Identity Theft Victim Checklist

Identity Theft Victim Checklist CONSUMER INFORMATION SHEET 3 4/30//08 Identity Theft Victim Checklist This checklist can help identity theft victims clear up their records. It lists the actions most identity theft victims should take

More information

Credit Scores. www.howtogainwealth.com. Copyright 2009 How to Gain Wealth. All rights reserved.

Credit 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 information

Welcome. 1. Agenda. 2. Ground Rules. 3. Introductions. To Your Credit 2

Welcome. 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 information

Understanding Credit. UMassFive College Federal Credit Union

Understanding 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 information

GREENPATH FINANCIAL WELLNESS SERIES

GREENPATH 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 information

BMG LoansAtWork. Credit Education Program

BMG LoansAtWork. Credit Education Program BMG LoansAtWork Credit Education Program V Course Objectives Identify ways to decrease spending and increase income Discuss common debt traps to avoid Brief discussion of identity theft Define credit Explain

More information

Understanding Your Credit Score and Credit Report. George Williams, CPA, JD, LLM Ross, Rosenthal & Company, LLP June 21, 2012

Understanding Your Credit Score and Credit Report. George Williams, CPA, JD, LLM Ross, Rosenthal & Company, LLP June 21, 2012 Understanding Your Credit Score and Credit Report George Williams, CPA, JD, LLM Ross, Rosenthal & Company, LLP June 21, 2012 What is a Credit Score? What is a Credit Report? A credit score is a number

More information

Financial payment profile Fair Isaac Corporation (FICO) 300 to 850 the higher, the better

Financial payment profile Fair Isaac Corporation (FICO) 300 to 850 the higher, the better What is a credit score? Financial payment profile Fair Isaac Corporation (FICO) 300 to 850 the higher, the better National distribution of FICO scores What a low score could cost you? Tens of thousands

More information

Disputing Errors on Credit Reports

Disputing Errors on Credit Reports Disputing Errors on Credit Reports Federal Trade Commission consumer.ftc.gov Your credit report contains information about where you live, how you pay your bills, and whether you ve been sued or arrested,

More information

Getting your credit reports

Getting your credit reports Getting your credit reports Getting your credit report is the first step to improving your credit. It is important to think about credit, because a good credit history can help you: Get and keep a job

More information

Understanding, managing, and rebuilding your credit

Understanding, 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 information

Your Credit Score. 800-491-2328 www.congressionalfcu.org. score of at least 620 for approval and 760 for the best interest rate.

Your Credit Score. 800-491-2328 www.congressionalfcu.org. score of at least 620 for approval and 760 for the best interest rate. 800-491-2328 www.congressionalfcu.org Your Credit Score Your credit score can have a major impact on your life. Not only do creditors typically check your score when deciding whether or not to approve

More information

All About Credit Reports from A to Z

All 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 information

A summary of your financial reliability

A summary of your financial reliability A summary of your financial reliability Used by banks and other financial institutions, landlords, utility companies and insurance companies 3 major credit bureaus: Transunion, Equifax, Experian 1. Identifying

More information

Most frequently asked questions and the answers about free credit reports:

Most frequently asked questions and the answers about free credit reports: Free credit reports The Federal Fair Credit Reporting Act (FCRA) is enforced by the Federal Trade Commission (FTC) and requires each nationwide consumer reporting company to provide you with a free copy

More information

Understanding a Credit Report! April 21, 2011. New York City Department of Consumer Affairs. All rights reserved.

Understanding 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 information

Office of Student Financial Management

Office 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 information

Landlord2Landlord RenterNet 303 Hickory Ridge Trail Ste 150 Woodstock, Ga. 30188 (877)722-5411 Fx (770) 516-2192 AUTHORIZATION FOR FILE DISCLOSURE

Landlord2Landlord RenterNet 303 Hickory Ridge Trail Ste 150 Woodstock, Ga. 30188 (877)722-5411 Fx (770) 516-2192 AUTHORIZATION FOR FILE DISCLOSURE Landlord2Landlord RenterNet 303 Hickory Ridge Trail Ste 150 Woodstock, Ga. 30188 (877)722-5411 Fx (770) 516-2192 AUTHORIZATION FOR FILE DISCLOSURE We are pleased to answer your request for disclosure of

More information

PO Box 5404 Lincoln, NE 68505-0404 (402) 934-0088 (800) 228-1837 AUTHORIZATION FOR FILE DISCLOSURE. First Name: Middle Last:

PO Box 5404 Lincoln, NE 68505-0404 (402) 934-0088 (800) 228-1837 AUTHORIZATION FOR FILE DISCLOSURE. First Name: Middle Last: PO Box 5404 Lincoln, NE 68505-0404 (402) 934-0088 (800) 228-1837 AUTHORIZATION FOR FILE DISCLOSURE We are pleased to answer your request for disclosure of your Tenant Data Rental History Report. You may

More information

Understanding Credit. The Three C s of Credit. What is a Credit Bureau?

Understanding Credit. The Three C s of Credit. What is a Credit Bureau? Understanding Credit By definition, the word credit has to do with trust. This is why credit impacts so many financial issues in our lives including the extension of a loan or credit card, how high an

More information

Introduction. Purpose. Student Introductions. Agenda and Ground Rules. Objectives

Introduction. 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 information

The West Virginia State Treasurer s Office. A free publication provided by

The West Virginia State Treasurer s Office. A free publication provided by YOUR CREDIT SCORE A free publication provided by The West Virginia State Treasurer s Office Visit www.wvtreasury.com or Call 1.800.422.7498 From the Office of West Virginia State Treasurer, John D. Perdue

More information

www.olsonadvisory.net Credit Repair Kit

www.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 information

Identity Theft/Credit Fraud Kit

Identity Theft/Credit Fraud Kit Provided by: Your source for information on Credit Reports and Credit Scores, where you can also safely order your own 3 Bureau Credit Report online that includes your credit information from Equifax,

More information

Identity Theft Victim Checklist

Identity Theft Victim Checklist Page 1 of 5 Identity Theft Victim Checklist CONSUMER INFORMATION SHEET 3 This checklist can help identity theft victims to clear up their records. It lists the actions most identity theft victims should

More information

Letter from the CEO. January 25, 2014. To Our Valued Michaels Customers:

Letter from the CEO. January 25, 2014. To Our Valued Michaels Customers: Letter from the CEO January 25, 2014 To Our Valued Michaels Customers: As you may have read in the news, data security attacks against retailers have become a major topic of concern. We recently learned

More information

CREDIT SCORE MANAGEMENT

CREDIT SCORE MANAGEMENT ARVEST BANK PRESENTS: CREDIT SCORE MANAGEMENT by LA TWAN CHEATHEM COMMERCIAL LENDER Credit History Credit history is one factor that determines a person's credit score. Things considered negative on a

More information

Office of Student Financial Management

Office 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 information

Credit Reports and Credit Scores

Credit Reports and Credit Scores Credit Reports and Credit Scores This program is made possible by a grant from the FINRA Investor Education Foundation through Smart Investing@Your Library, a partnership with the American Library Association.

More information

KANSAS STATE UNIVERISTY

KANSAS STATE UNIVERISTY KANSAS STATE UNIVERISTY DISCLOSURE AND AUTHORIZATION [IMPORTANT PLEASE READ CAREFULLY BEFORE SIGNING AUTHORIZATION] DISCLOSURE REGARDING BACKGROUND INVESTIGATION PER 59(1/2013) Kansas State University

More information

Credit History CREDIT REPORTS CREDIT SCORES BUILDING A STRONG CREDIT REPORT

Credit 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 information

Guide to Identity Theft

Guide to Identity Theft Guide to Identity Theft 1 Receive a free copy of your credit report. Visit www.annualcreditreport.com to get a copy of your credit report from all three credit reporting agencies. Review your credit report

More information

REVIEW.The Credit Process

REVIEW.The Credit Process REVIEW.The Credit Process Credit when goods, services, and/or money are received in exchange for a promise to pay back a definite sum of money at a future date. Wants to acquire an item Does not have enough

More information

Identity Theft Victim Checklist

Identity Theft Victim Checklist Identity Theft Victim Checklist THE FOLLOWING CHECKLIST PROVIDES THE STEPS YOU SHOULD TAKE TO MINIMIZE DAMAGE TO YOUR FUNDS, FINANCIAL ACCOUNTS AND PERSONAL REPUTATION. Before you start Telephone calls

More information

Dear Concerned Consumer,

Dear Concerned Consumer, Dear Concerned Consumer, Identity theft is a growing problem of the Information Age. You have already taken the first important step in combating the problem by contacting HomeStar Bank & Financial Services.

More information

How to Freeze Your Credit Files Tips for Consumers

How to Freeze Your Credit Files Tips for Consumers How to Freeze Your Credit Files Tips for Consumers Consumer Information Sheet 10 May 2015 If you live in California, you have the right to put a security freeze on your credit file.1 A security freeze

More information

Checking and Clearing Credit History for Young People

Checking and Clearing Credit History for Young People Checking and Clearing Credit History for Young People The Child and Family Services Improvement and Innovation Act of 2011 requires each youth age 16 and older in foster care to receive each year until

More information

Dear Consumer, What's in this packet: Identity Theft Victim Checklist Identity Theft Victim Worksheet Sample Letters

Dear Consumer, What's in this packet: Identity Theft Victim Checklist Identity Theft Victim Worksheet Sample Letters Dear Consumer, Sometimes an identity thief can strike even if you ve been very careful about protecting your personal information. If you suspect that your personal information has been stolen and used

More information

Credit Report The single most important document for protection against identity theft.

Credit 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 information

Credit Reports & Credit Scores

Credit Reports & Credit Scores Credit Reports & Credit Scores Reviewing: Information that is and isn t in your credit report. What information determines your credit score. Tips to improve your credit score. What s In Your Credit Report

More information

UNIT 3 3 Checking Your Credit History

UNIT 3 3 Checking Your Credit History UNIT 3 3 Checking Your Credit History As we learned in the last lesson, building a strong credit history is an essential step on the pathway to home ownership. You credit history is your financial resume

More information

Understanding and managing your credit

Understanding 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 information

Understanding Credit Reports

Understanding Credit Reports Understanding Credit Reports Family Economics & Financial Education Credit Reports - a record of a consumer s credit history Credit history - a record of transactions involving credit use Individuals do

More information

2/7/2015 Credit Scoring Handbook. https://vip.vantageproduction.com/htmltemplate/44909/37d8475b-cf7b-46fa-8091-5d80543e1511/render?

2/7/2015 Credit Scoring Handbook. https://vip.vantageproduction.com/htmltemplate/44909/37d8475b-cf7b-46fa-8091-5d80543e1511/render? We r eher et ohel p. Cal l T oday! 4808324343 https://vip.vantageproduction.com/htmltemplate/44909/37d8475b-cf7b-46fa-8091-5d80543e1511/render?preview 2/10 2/7/2015 Credit Scoring Handbook Notes YourCreditScore

More information

Citi Identity Theft Solutions

Citi Identity Theft Solutions Identity Theft what you need to know Citi Identity Theft Solutions At Citi, we want to keep you informed about all of the issues that can affect your financial life. We re bringing you helpful information

More information

G&I Homes is a New York State Registered Mortgage Broker: NMLS# 20923

G&I Homes is a New York State Registered Mortgage Broker: NMLS# 20923 G&I Homes is a New York State Registered Mortgage Broker: NMLS# 20923 As a New York State registered mortgage broker, we have access to many lenders and many varied programs. In our capacity as a registered

More information

I dentity theft occurs

I dentity theft occurs 1.3.1.F1 Identity Family Economics and Financial Education W h at i s I d e n t i t y T h e f t? I dentity theft occurs when someone wrongfully acquires and uses a consumer s personal identification, credit,

More information

Credit Reporting and Repair for Domestic Violence Survivors

Credit Reporting and Repair for Domestic Violence Survivors Credit Reporting and Repair for Domestic Violence Survivors Chi Chi Wu April 27, 2010 Presented by The Consumer Rights for Domestic Violence Survivors Initiative, a partnership of the Center for Survivor

More information

Office of Privacy Protection Safeguarding Information for Your Future

Office of Privacy Protection Safeguarding Information for Your Future W I S C O N S I N Office of Privacy Protection Safeguarding Information for Your Future Credit report security freeze Wisconsin consumers have the right to place a security freeze on their credit reports.

More information

PRACTICAL MONEY GUIDES CREDIT HISTORY. Your credit history and how it affects your future

PRACTICAL MONEY GUIDES CREDIT HISTORY. Your credit history and how it affects your future PRACTICAL MONEY GUIDES CREDIT HISTORY Your credit history and how it affects your future YOUR CREDIT HISTORY THE RECORD OF HOW WELL YOU HANDLE CREDIT To get a glimpse of your financial future, many businesses

More information

CREDIT REPORTS WHAT EVERY CONSUMER SHOULD KNOW ABOUT MORTGAGE EQUITY P A R T N E R S

CREDIT 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 information

Understanding Credit Reports

Understanding Credit Reports Understanding Credit Reports What is a Credit Report and Score? Your success in managing credit is reflected in your credit report and score. A credit report is a history of everything you are doing with

More information

Remedying the Effects of Identity Theft

Remedying the Effects of Identity Theft Remedying the Effects of Identity Theft Identity theft occurs when someone uses your name, Social Security number, date of birth, or other identifying information, without authority, to commit fraud. For

More information

REINVESTIGATION REQUEST INSTRUCTIONS

REINVESTIGATION REQUEST INSTRUCTIONS REQUESTING A REINVESTIGATION REINVESTIGATION REQUEST INSTRUCTIONS 1. To help expedite your reinvestigation request, you can complete and sign attached Form CRD-002 Reinvestigation Request, with legible

More information

Reclaiming your identity

Reclaiming your identity Reclaiming your identity A resource for victims of identity theft If you think you are the victim of identity theft, use this resource guide to assist you in reclaiming your identity. You will find a checklist

More information

The 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 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 information

Why Credit is Important

Why Credit is Important Page 1 Why Credit is Important Page 6 How to Protect Yourself from Identity Theft Page 7 Cosigning and Money Lending Tips Page 8 How to Avoid Credit Card Interest Why Credit is Important Learning to build

More information