Consumer Credit is a line of credit that is extended for personal or household use.
Requirements Relating To Information Contained In Consumer Reports
- Bankruptcy = 10 years
- Suits & Judgments = 7 years
- Paid Liens = 7 years
According to the Fair Credit Reporting Act You have the right
- To receive a copy of your credit report
- To know the name of anyone who received your credit report in the last year-or- in the last 2 years for employment purposes
- To receive a free copy of your credit report when an application is denied because of information on your report
- To receive the name of the bureau that supplied a report which formed the basis for a denial of credit or employment
- To add a summary explanation to your credit report
Bad Credit Can
- Affect your ability to get more credit
- Affect your ability to get or keep a job
- Affect your ability to obtain promotion, reassignment or retention
Obtaining A Credit Report
Obtaining a copy of your Credit report can be FREE and is very easy.
You can request individual copies form the major reporting agencies or you you can request a consolidated report from Annual Credit Report.com
Prices can vary from $6.00- $12.95 depending on the credit reporting agency
NOTE: The Credit Score is not necessarily included in your request for a credit report. There may be additional costs for this information
Free Annual Credit Report
www.annualcreditreport.com
877-322-8228
Equifax
www.equifax.com
800-865-1111
Experian
www.experian.com
888-397-3742
Trans Union
www.tuc.com
800-916-8800
Categories of Information in Credit Reports
Credit worthiness is a pre-determined set of criteria developed by a lender to qualify an individual for some form of credit. The criteria can include items such as the review of previous credit history, occupation, length of service and current property status.
- Types of Credit in Use
Do you have a healthy mix of credit cards, retail accounts, installment loans, etc? - Number of Inquiries
Have you made frequent applications for credit? - Status of Credit Lines
Have you handled them responsibly? - Public Information
Have you filed for either Chapter 7 or Chapter 13 bankruptcy in the last 10 years?
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