Bureau Credit Report

Bureau credit reports are available from many sources on the Internet. By obtaining a copy, the consumer can keep track of and monitor their borrowing record, identify identity theft, and make sure there have not been any mistakes made that could harm one's lending history or ability to receive needed loans. These are only a few of the many reasons why people should be aware of the information on their records. Since the Fair Credit Rating Act came into effect, everyone is now entitled to a free bureau credit report and that includes knowing who and why that record has been accessed.

While there are numerous companies online that can help people obtain a copy of this record, there are three main reporting agencies. Experian, Equifax, and TransUnion are the major reporting agencies that make it possible to not lose any credit management history if the consumer relocates. These three compete against each other and don't always contain the same information, making what is on the record dependant on which agency is used to obtain the bureau credit report. Lenders report information to which ever of the three agencies they choose to work with and do not have to report to all three. Information on records might also be different depending on when the data is sent to the agencies and when it is recorded. Therefore it is important to get all three bureau credit reports in order to get a clear and accurate picture of one's ratings.

These records include a variety of information. There is information from lenders, charge card issuers, student loan companies, retail stores, and finance companies on a bureau credit report. Finance-related public records including bankruptcy judgments and tax liens are included as well. Records will also reflect any collection agency debts the consumer has. Most bureau credit reports will include the FICO score. This score is used to assess the level of consumer risk which helps with predicting whether or not the borrower will pay back the loan in a timely fashion. Something most people may not be aware of is that anytime a creditor or anyone else accesses a record, it is posted as an inquiry and this may reflect badly on those consumers who are actively searching for a loan of some sort.

God expects us to be honest and fair in all we do and this includes our finances and our bureau credit report as well. "He that walketh righteously, and speaketh uprightly; he that despiseth the gain of oppressions, that shaketh his hands from holding of bribes, that stoppeth his ears from hearing of blood, and shutteth his eyes from seeing evil; He shall dwell on high." (Isaiah 33:15-16)

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