 our
credit report is a record of information about your credit
payment history. Private companies called credit bureaus compile
data and generate credit reports. There are three primary
credit bureaus in the United States -- Equifax, Experian and
Trans Union.
ach
of the credit bureaus gathers information about consumers
from a combination of public records such as court documents
and property tax rolls, and reports provided by businesses
such as banks, financial institutions, and utility companies.
What can
you do about your credit history?
First
of all, you can find out exactly what is contained in your
"official" credit history by purchasing a copy of
your credit report. If you want to purchase on-line versions
of your personal credit reports from either Equifax or Experian,
click on their banner below.
In
addition, if you are denied credit based on information included
in your credit report, the lender must inform you as to which
reporting agency was used, and the credit bureau must then
provide you with a copy of your credit report free of charge.
If you disagree with the information in your credit report,
you have the right to challenge that information. Then, you
should examine it carefully for anything that you think is
erroneous. Contact the credit bureau that issued the report
in writing to notify them of any inaccuracies requiring correction.
ike
most other lenders, we depend on information contained in
your credit report to help us decide whether or not to offer
you a loan. If you are not sure what is currently in your
credit report, we suggest you review it before applying for
a loan. Many consumer experts suggest that you review your
credit report for accuracy on an annual basis.
f
you want to purchase on-line versions of your personal credit
reports from either Equifax or Experian, click on their banner
below. |
