What types of information is on your credit report?

Joe's Credit Repair


Types of Information in a Credit Report

Credit reports are not always easy to read. The truth is the credit bureaus want it like that. The less the average consumer understands, the more likely they will not spot or complain about any errors.

Personal Data

This section has identifying and employment information. It will include full name, spouses name, current and former address, date of birth, current and former employers.

Although the personal data section does not directly affect the credit score, it is important that this section is correct for identifying purposes. Suffixes, such as I., Jr., etc., often get mixed up. Father and son with the same name will often get their information reported on each other’s credit reports. Make sure you go over each credit report item with your client if you encounter the above situation to ensure accounts are not mixed.

Accounts/Trade Lines

This section provides detailed information about all credit accounts. Accounts are divided into five categories: “Real Estate, Revolving, Installment, Other, and Collections

Collection Accounts

Collection accounts are accounts that are seriously past due and have been transferred to an attorney, collection agency or creditor's internal collection agency. As debt is transferred between different agencies, you may see several records on the credit report for the same debt. Only one record should be marked as open at a time.

Public Records

The public information section of your credit report includes publicly available information about legal matters affecting the credit. This could include judgments against in civil actions, state or federal tax liens and bankruptcies. Here are definitions of the eight types of public records you could see listed on your credit report. All are detrimental to a credit score.

Inquiries

This section lists details about each inquiry that has been made into the credit history. Details include the name of the creditor or potential creditor who made the inquiry and the date when the inquiry was made.
An inquiry appears when an organization such as a bank or retail store requests a copy of the credit report. These requests can only be made if the customer has a credit granting authorization or is applying for credit with the organization. The requestor's name will appear on the credit report, allowing the customer to monitor who accessed the credit report.

If you have any question about our quick legal credit repair services, please navigate to our FAQ page for more information or feel free to contact us. Thank you for visiting Joe's Credit Repair company website.