Information The Credit Reporting Agencies Don't Want You Know

Luckily for you the United States Governments Fair Credit Reporting Act gives you the power to challenge those mistakes and actually get them taken off your report for good! You also have the right to file suit against the reporting bureaus if they do not comply with these laws. What this means to you is that if you file a dispute the bureaus take them very seriously. Many people are also starting to look at their finances and what they are purchasing much more seriously, which is a very good thing. People want to view their credit reports and want to know what their scores are now more than ever because they cannot afford not to know how they are doing.

There is one bit of information that many people do not have written down, and most people do not even know where to find it. This piece of information is a credit score. This score is very important for ensuring financial security and stability in a person's life. Having a good score can show banks and lenders that you are a very trustworthy person that always pays things on time and has a good source of income. A bad score can have the exact opposite effects.

• Open mortgage balances
• 620-659 Fair
• 350-619 Poor
• CIB "Credit Bureau Inc."/EQUIFAX, P.O. Box 4091, Atlanta, GA 30302
• Credit scores
• Any documents containing personal information, should be shredded
• TRW Credit Information, 505 City Parkway West, Orange, CA 92667
• 750+ Excellent

After the investigation regarding the monthly income and other history of any given borrower the credit reporting agencies can calculate how much of a credit limit a lender should be willing to offer. Having a credit card is good but you must know how to use them and you must know how to control your spending. Use it for only for emergency purposes as much as possible. When you consider the complexity of these bureaucracies along with the myriad personalities found in each, it's easy to see how overwhelming and frustrating bad credit can be. Yet knowing how the system really works and separating fact from fiction will enable you to navigate what often appears to be a hopelessly complex maze. In fact, the credit reporting system is a shrewd game of strategy, and understanding the playing field is your first, critical step to positioning yourself to play along, even the score, and ultimately come out a winner.

So in essence you will only have to do it one time with one reporting agency.

You can sign up for fraud alert through the credit bureaus directly. You will only have to contact one of the major bureaus who will then forward your request for a fraud alert to the others. So in essence you will only have to do it one time with one reporting agency. The more recently you have had a collection or failed to pay something on time, the worse your score will be. · 30% of the score is based on the debts you have at the time of the rating. It is includes car and home loans, credit card debt, retail store debt and the like.

Many people are falling victim to sites that are not charging any fees and granting people fake reports for free. These sites ask for very personal information and will use it and sell it to many people and agencies you have never heard of. They will also use it to empty your accounts and run up a very high credit card debt. This documentation is something you can submit to credit reporting agencies to make sure the information is updated. Keep in mind that updating information does not mean replacing information. If you have a delinquent debt on your credit report and you pay it off the debt will still be listed in the "delinquent" part of your credit report but the balance on it will be zero.