Credit Report

• If you've ever applied for a charge account, a personal loan, insurance, or a job, there's a file about you. This file is called a credit report which contains information about where you live and work, your income, debts and credit payment history (how you pay your bills), whether you've been sued, arrested, or if you have ever filed for bankruptcy. Having a good credit report means it will be easier for you to get loans and lower interest rates. Lower interest rates usually translate into smaller monthly payments.
  
  
• A business that gathers and sells the information in your credit report to other businesses is called a consumer reporting agency (CRA). The most common type of a consumer reporting agency (CRA) is the credit bureau. The information in your credit report that a consumer reporting agency (CRA) sells to creditors, employers, insurers, and other businesses is called a consumer report. This information is used to evaluate your applications for credit, insurance, employment, or renting a home.
  
  

• There are three major nationwide Consumer Reporting Agencies (CRAs):
  
  
  • Equifax
    P.O. Box 740241
    Atlanta, GA 30374-0241
    Telephone: 1-800-685-1111
    Web site: www.equifax.com
    
    
  • Experian
    P.O. Box 2104
    Allen, TX 75013
    Telephone: 1-888-397-3742
    Web site: www.experian.com
    
    
  • TransUnion
    P.O. Box 1000
    Chester, PA 19022
    Telephone: 1-800-916-8800
    Web site: www.transunion.com
    
    
• For more information visit http://www.ftc.gov/credit/
  
  
  

Federal Laws
Major laws that govern financial institutions and protect individuals in their financial dealings

Organizations

Consumer Info

Copyright &
Disclaimer Info
© Loanfactz.com
2004/2008

Miscellaneous