Sophie Wilson asked:


Your credit report holds importance when it comes to applying for loans. For getting a loan and prior to loan approval your credit worthiness is verified by your lender. So the credit report has a very crucial role to play in loan approval. Therefore the free annual credit report is offered so that both borrowers and lenders can get the desired credit information that too free of cost.

There are three agencies that provide credit report- Equifax, Transunion and Experian. To get free annual credit report you are not required to pay anything. These reports are made to you available totally free of cost. The credit report issued by the different bureaus is almost similar, but different bureaus use different parameters for evaluation. Different agencies have different viewpoints however; it would be beneficial for you to acquire all the three report.

Free annual credit report gives you an opportunity to maintain a good credit record. With the help of this report, you analyze your credit scores and things that require your attention so that you can improve your scores. With these report you can easily get to know your credit worthiness and can find whether you can qualify for regular loans or not. It is beneficial if you apply for such report prior to applying for any loan.

For lenders this free annual credit report acts as a basis for approving or rejecting your loan application. It provides them with detailed information about your previous credit records. It is a detailed account showing defaults, late payments, arrears, CCJs, IVA and bankruptcy. This credit report enables lenders to assess your credit worthiness and in case of denial he should present valid reason of application rejection.

Online medium is the easiest way to apply for free annual credit report. Before choosing any service provider it would be highly beneficial to do a proper research and then select any one. You can apply from anywhere and anytime as per your convenience.



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David S asked:


I paid all my oustanding debt on my credit report how long will it take for that stuff to be removed or updated?

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Isabel asked:


Is it really essential to improve your credit report?

Even though credit score are three digit numbers but it has great importance in today’s business world. To earn a good credit standing it is very much essential that one pays his/her dues on time. Regular and timely payment of dues ensures a healthy credit score history.

Many retailers and lenders entirely depend on credit report in order to run their business on credit. Any negative remark can directly affect your credit obtaining flexibility. So it is advisable that you must improve your credit report and score. If your credit report contains any negative remarks it becomes vital that you improve your credit score as quickly as possible.

Suppose you are thinking to purchase a car on credit. For this you will have to apply to different bank and money lenders. Bank lenders solely depend on your credit score to judge your financial position in the market. If you do not have a satisfactory credit score history, there is every chance that you will not be granted the necessary loan to buy the car. Similarly there can be different types of investment you would like to purchase. So for all this purpose it’s very important that you maintain a healthy credit report.

Following are certain tips and guidelines that can help you improve your credit report.

• Make all your bills payment on time or before the due date. As any late payment can directly affect your credit report and simultaneously your credit score.

• Do not apply for credit every time as it may decrease your credit report rating.

• Maintain estimated balance on your credit. For instance your credit balance should not exceed 25%, as it is the usual credit limit.

• If you find any negative remark in your credit report, apply to know the true reason. Ascertain whether the information in your credit report is accurate or not.

• Maintain a free copy of your credit report.

• Do not open unnecessary accounts. Remember a zero balance account is also taken into consideration.

• As far as possible make sure that you avoid introductory offer on your credit card.

• Maintain good credit history.

• Check your credit report periodically at least twice a year.

• Repair your credit timely for any credit report service.



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Nick P asked:


I have pulled my credit report a few times online and once had a credit monitoring service. I’m considering going back to having a credit monitoring service because I really liked the real time updates to my email whenever there was a change made to my credit report. I’m just wondering what other people have thought was the best service for price and userability through their prior experiences? Thanks in advance!!!

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Creditscorecowboy .com asked:


Undoubtedly all of us have heard how important is for our credit history keep a good credit score and how negatively our credit rating can be affected after failing to pay our debts, but sometime people do not really care until they discover that all their financial movements, good or bad, have been reported to the national credit reporting bureaus and that such information has been recorded as part of their corresponding credit history.

Let’s analyze what your credit report is made of and how this information alters your every day life. A credit report is a REAL document that often lies in a computerized center as digital information until someone expressly ask for a printed copy of it. It is expected that the person requesting that document would be the one to whom the credit score belongs with.

Even though, if you want to buy a house or start a for a loan involving a considerable amount of money, the person or institution you are dealing with may ask for a printed copy of such document. However, they can also check your credit history directly making a phone call or gaining access to it digitally.

Credit reports can be compared with your medical history, in which your doctor records your health condition and treatments. Applied to your credit, every time that you borrow and repay money, this information is kept in the files of the national credit bureaus after reviewing that your personal information matches with the items reported to determine what your credit score is.

Lenders check this credit history to determine your credit worthiness and your willingness to repay that is why people also refer to credit history as credit reputation. Although an individual lender or financial institution also look at your employment status and income, the credit repot let them know if you have paid your obligations timely.

Because your credit report helps lenders determine if you are subject to a new credit or extend an existing credit, it is important that you check the accuracy of the credit report because a mistakenly recorded item may not only damage your chances to borrow money or goods, but also it will remain for seven years in your credit history.

There are websites like The Credit Score Cowboy (www.creditscorecowboy.com) that can help you understand how your credit report and credit score contribute to shape your financial situation. You are eligible to get a free copy of your credit report once per year. This report is the information that the three major national credit reporting bureaus, Experian, Transunion and Equifax, have in their files so it is worth you approach to the experts and get yours now.

With your credit report in hand you will be able to verify each item in your file and request a review to correct any inaccuracy since the information gathered determines if you qualify for credit approval or your application has to be declined.



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Tom Tessin asked:


A bad credit report causes your credit score to reflect a negative debt policy. This lower score causes you the inability to buy things that you need or want. You may not deserve this report for a variety of reasons that can be fixed. When you buy an item from a rent-to-own place as an example and you ask for a certain pay day but their computer systems requires you to pay a day or two before this may get reported on your credit report as slow pay. The slow pay often causes your credit score to drop. The manager who operates the local store tells you not to worry he knows that you will be in on a certain day and of course he does not call. The corporate office only knows what is put into the computer which shows your two days late sending off a bad credit report. In order to fix this first, have the local manager contact the main office getting them to put a letter in your report stating that this is the error of the local store for not setting up the right pay date. Secondly, find out how much more you would need to pay in order to have your pay date set up to a new date that fits within your budget to pay. Then do follow up to make sure that you are no longer in the reporting credit agencies as a slow pay.

You might have a bad credit report because of a lay-off in ability to pay for an item in the time period required. Then you should make an agreement with the creditor to pay off the bill asking for an extension of pay or even asking if you pay less would they defer late fees and interest charges. After you made a pay arrangement make sure that a copy of this is put into your credit report. This will help to fix your credit report in order to give you a better score. You should check your credit report periodically to make sure that you are not being charged with a debt that you do not even owe. Often a bad credit score is reflecting a bill that is not yours which gives you a bad credit report.

You will need to immediately start to fix the problem. You can take several steps to clear up the issue but start by putting a letter in the reporting credit bureaus that this is not your bill. Afterwards you will need to get as much information as possible about the bill before you can proceed to get the situation taken from your credit report. It is always advisable to have a good credit report and remember, having a good credit report helps with your future interest rates. Keep up with your credit and make sure your credit report is not a bad one and if a problem arises take steps to fix it so that you will not have a bad credit report.



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mjmackinnon asked:


A junk debt company bought an ancient debt of mine and tried to sue me to pay them. I fought and won and they dismissed the case, but now I don’t know what happens to the information on my credit report? This debt was listed twice, once from the original credit card company and again from the junk debt company. Does it truly disappear and do they need to remove the info from my credit report now?

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Devora Witts asked:


There are many companies out there advertising their services and claiming they can remove negative information from your credit report immediately without efforts or sacrifices on your part. Are these claims true in any way? Is it possible to clear your credit history and get a good credit tag just by paying for their services? Learn the truth about credit repair companies.

There is a huge difference between companies who claim that they can remove accurate information from your credit report immediately and those who say that they can help you remove inaccurate information from your credit history right away and can teach you to clear your credit report with patience and a bit of sacrifice.

Be Careful With Illegitimate Credit Repair Services

Paying for these companies advice will in the best scenario imply that you will loose a considerably amount of money and get nothing in return. In the worst scenario, however, you may end up being prosecuted due to committing fraud to lenders or the government just by following their advice. Presenting a false identity is a crime, lying in application forms is a crime and trying to deceive lenders or government agencies in any way is also a crime, thus, beware.

Is It Possible To Dispute Information Legally?

The answer is YES, however, you can only dispute inaccurate information successfully without risking prosecution for making false claims. In order to dispute information on your credit report, you need to tell the credit agency in writing what specific details you believe to be false or inaccurate, you’ll also need to attach any documentation (copies, never the original documents) you have as proof of your claims.

You need to include your contact information too along with a copy of the credit report where you found the negative information you believe to be false or inaccurate. Don’t forget to request the information to be corrected or removed. Otherwise, they might do nothing about it. Always keep copies of al the documentation sent and the receipts as you may need to use them in court if they don’t comply.

What If I’m Right And The Information Was Inaccurate Or False

Credit Agencies have 30 days to review all these information, forward it to the institutions that reported the negative information, make a proper investigation and reach a well informed and formal conclusion. If the information was false or inaccurate, the credit agency will inform the other credit agencies in the market so they can correct their credit reports too.

The credit agency is also obliged to give you a written explanation of everything that was done along with a copy of your credit report if anything was changed. You are also entitled to receive the details and contact information of the bank, lending institution or whoever provided the negative information. If you were declined by a lender or credit card provider or where affected in any way by this information, you can take legal action against this institution first and eventually, against the credit report agency too.



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Ryan asked:


Unfortunately, chances are there are errors on your credit report that are significant enough to hurt your credit in a way that would not allow you to get a favorable loan. That means your inaccurate credit score could cost you the ability to get an auto loan, rent an apartment, or even get a job. Studies show that 1 in 4 credit reports have false information, but there are ways to quickly fix credit report errors.

The first step is obvious. Get a copy of your credit report. By law, the three credit reporting agencies are required to give you one free copy of your report once a year. You can elect to receive a copy from all three agencies at once, or obtain one report at a time. If you have not reviewed your credit report in over a year, it’s recommended to request them all at once since some information can be listed on one report but not the other. You can always purchase a copy of your credit report later if needed.

Once you receive your credit report, you simply want to look for errors, particularly the negative errors. Look for:

* Open accounts that are not yours

* Notices of delinquent payments that have been on time

* The same loan or credit card listed twice

* The absence of a loan or credit card

You also want to double check that your name, birth date, current address and social security number is accurate. Otherwise information from someone else with a similar name could be confused with yours. Some wrong information, however, is not necessarily a big deal. The use of “street” versus “road” in your personal address, for example, or the correct spelling of your previous employer. These types of things will not affect your credit score and does not really make it any easier for an identity thief to steal your information.

If you find an error, notify the credit agency immediately. They are required by law to contact the lender/creditor and within 30 days.



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littlemissmay asked:


I recently talked to an advisor on why my credit was so low all of a sudden. She said because so many people who were trying to offer me credit cards were asking for a look at my report! I never asked for these cards and I dont want them looking at my report or anything. How do I stop them!

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