As part of series of articles (blogs)
regarding Credit and Credit Score, here we
A credit bureau, also known as a credit
reporting company, is an agency that collects
and maintains individual credit information and
then selling it to lenders, creditors, and
consumers in the form of a credit report. There
are several hundred local, national, and
international credit bureaus and affiliates in
the U.S. and aboard, most of them are small
companies. The three major credit bureaus in the
U.S. are Equifax, Experian, and TransUnion.
A credit report, as explained above, is a
collection of information about an individual
showing his/her payment history, personal
information and any derogatory information in
A credit report includes information on where
you have lived, where you have worked, how you
have paid your bills, whether any action has
been taken to collect overdue bills, and whether
you’ve been sued or have filed for bankruptcy,
up a Credit Report?
Here you will find the personal information
contained in your credit file, including your
legal name(s), addresses that you had used in
the past, current and previous employers, and
date of birth.
This section gives you a broad look at your
current and past credit status. Here you'll find
the total number of open and closed accounts in
your name, the individual and total balance on
those accounts, and delinquencies. This section
covers a summary for the following types of
accounts: Real Estate Accounts, Revolving
Accounts, and Installment Accounts.
The information in this section comes from
federal district bankruptcy records, state and
county court records, tax liens and monetary
judgments, and in some states, overdue child
support records. Public records remain on your
credit report for 7-10 years.
Certain public records such as Judgments,
Mechanical lien, Tax Lien, IRS Lien, and
lawsuits do not have any direct negative impact
on your credit score number, however, it
is the reason that you will not be qualified to
get a Mortgage loan unless you do something
about them (clear them).
This section contains the names of those who
obtained a copy of your credit report. Inquiries
remain on your report for up to two years.
This section contains specific information on
each account you have opened in the past.
Positive information about your accounts remain
on your report, for as long as the account is
What is not in a Credit Report?
Current Job Title and Position
Current Length of Employment
Current Salary or Wages
History of any of the above job related
information from the past
Check Writing Information:
Number of Bad Checks
Amount of Bad Checks
Date of Bad Checks
Tax Related Information:
Amount of Income Tax paid/received/owed
Amount of Property Tax paid/owed
Date of Taxes Due
Child Support Related Information:
Amount of Child Support Payment
Frequency of Child Support Payments
Date of Child Support Payment Due
Date of Child Support Obligation Ending
Rental Related Information:
Amount of Rent Payment
Frequency of Rent Payment
Date of Rent Payment Due
Date of Rent Payment Obligation Ending
Medical Related Information:
Marital Status Information:
Married, divorced, widowed, etc.
Date of Marriage, divorce,
Any children you have and how many.
HOW to overcome the problems with your credit
history and credit score?
Knowledge, education, awareness, practice and
discipline are the essential keys to being
successful on any subject. The book,
"Credit Score Tips and Tricks",
provides you information, tools, techniques to
educate yourself and manage your credit report &
credit score, and therefore manage your finances
effectively at no additional cost.
I have decided to bring and share with you,
chapters or sections of the book,
Credit Score Tips and Tricks,
as series of
articles here. This is the number 4 of such a
I also created and manage a GROUP in ActiveRain,
Credit Reports and Credit Scores, Please
feel free to join and share your thoughts and