The Anatomy of a Credit Report

ANATOMY. OF A CREDIT REPORT Results of This is how o Saua TO: John David 1423 Glade Rd. P PERSONALINFORMATION REPORT INQUIRIES Pute Stater witwould did she don't s heowold he t Credit History >>>We have eserarched >>> We have researched t DISPUTE STATEMENTS e als This h e rearched CREDIT HISTORY ACCOUNTS revolving account egllment accoun ACCOUNTS Negative inform X you have addieiol X you have addition NEGATIVE INFORMATION 689 CREDIT SCORE It can be a daunting and even scary task to order a credit report. Let's face it, financial lingo can be difficult to learn, and even more difficult to understand. So, let's take a good look at the scary monster also known as A CREDIT REPORT. CREDIT REPORT A record of an individual's or company's past borrowing and repaying, including information about late payments and bankruptcy. Cre•dit re•port <) [kred-it ri-pohrt] . ............. ... ... ... This section Includes: all credit granters who have received a copy of your credit report. It also includes any others who were authorized to view it. .. .... .. ..... REPORT INQUIRIES "Worried about identity 65.6% theft or fraud." of US ADULTS say they are: 50.6% of US adults either have, or know someone who has, been a VICTIM OF IDENTITY THEFT. (Source: Trans Union) This indudes: Your name, address (current and previous), social security number, telephone number, birth date, your current and previous employers (and on the version you get, your spouse's name may be included as well.) ......... .. ..... . . PERSONAL INFORMATION 54% Of Credit Reports Contain: PERSONAL DEMOGRAPHIC IDENTIFYING INFORMATION, that was misspelled, long-outdated, belonged to a stranger, or otherwise INCORRECT. . .................. .. The report may also include: any statements you've made disputing information on the report. Most credit bureaus allow both the consumer and the creditor to make statements if there is a dispute about something on the report. ******* DISPUTE STATEMENTS .... . . ... .... ... ........... . 25% Of Credit Reports (surveyed by the US PIRG) Contained SERIOUS ERRORS that could result in the DENIAL OF CREDIT. 79% Of Credit Reports contain some type of ERROR. (Source: US PIRG) Includes: bill-paying history with banks, retail stores, finance companies, mort- gage companies, and others who have granted you credit. If there were missed or late payments, 1 CREDIT HISTORY ts, this is where they would appear. ...... . The average credit file contains IJ Credit Obligations: VISA VISA |are likely to be Credit Cards VISA VISA VISA VISA are likely to be Installment Loans. VISA VISA VISA (Source: FairIsaac) .............................. Installment Credit Is: a type of credit that has a fixed number of payments Revolving Credit Is: credit that does NOT have a fixed number of payments ............................................................................. ACCOUNTS Here you'll find all Mortgage, Installment, and Revolving Accounts. CLACEA CLACEN CLOSED CLOCED CLASED CLOSED 30% Of Credit Reports: Contain credit accounts that had been closed by the consumer, but incorrectly remained listed as open. ... .... ....... NEGATIVE INFORMATION An excessive number of late payments, or trouble with collecting payments, adverse judgments and collection agency activity, and repeated delinquencie.s ও । Negative information concerning your use of credit can be kept in your credit report for: A BANKRUPTCY can be kept for: 10 Years January ry YEARS. 15 Years And UNPAID TAX LIENS for: .... ..... .... ..... .. ***** CREDIT SCORE This is a number assigned to a person that indicates to lenders their capacity to repay a loan. The The NEW ENGLAND REGION has the highest average at: 713. AVERAGE US CREDIT SCORE is: The WEST SOUTH CENTRAL REGION 693 (TX, OK, AR and LA) has the lowest average at: 673. (Sources Experian National Score Index) According to a 27% Of Americans have never checked their credit. 2006 CONSUMER ACTION Up 4% from the same study in 2005. (Source: Capital One) Study: BROUGHT TO YOU BY: BestCreditRepairCompany.com eCopyright 2012. All Rights Reserved. . ... ........ ................................