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What is
a Credit Report?
A credit report is a record of your credit
activities. It lists any credit-card accounts or
loans you may have, the balances, and how regularly
you make your payments. It also shows if any action
has been taken against you because of unpaid bills
(adverse information).
The report itself does not say whether you are a
good or bad credit risk -- it provides lenders with
the data to make the decision themselves. Credit
bureaus (Equifax, Experian & TransUnion), collect
this information from merchants, lenders, landlords,
etc., and then sell the report to businesses so they
can evaluate your application for credit. Lenders
make their decisions based on different criteria, so
having all of the information helps them ensure that
they are making the right decision.
Credit reports have several sections:
Detailed information about your credit report is
provided in the educational material provided with
your credit repair plan.
Erroneous items on your credit report may cause
serious impact in your finances.
Imagine this situation: You go to the Car Dealer to
buy the car of your dreams and surprise! The
salesman tells you that due to some "negative" items
on your Credit Report,
the interest of your car loan changed from 1.9% APR
to 7.5%, or even worse, your car loan was denied!
The good news is that
we can remove those errors
for you!
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