Credit Bureau Report

Credit Bureau Report provides the detailed credit history of the borrower to ascertain the creditworthiness of the borrower. Generally, creditors and lenders use credit bureau report to ascertain the loan applicant's creditworthiness. Credit bureau report reflect one's financial activities.

Features of Credit Bureau Report

Some of the prominent features of any credit bureau report include:

• Personal identifying information like present and previous address, SSN (Social Security Number), employment history.
  
  
• A brief of credit history of the borrower like type and number of accounts
  
  
• An elaborated account information of the borrower
  
  
• Any query into applicant's credit history. Inquiry can be about a credit card or loan
  
  
• Information about liens and public records (it contains financial related information like tax liens, bankruptcies, and judgments)
  
  
• Victim statements

Advice by experts

In the event of any incorrect personal identifying information in credit bureau report, one must notify the credit bureau(s). Personal information normally include one's name, SSN number, contact information, address and date of birth. One should keep the receipted copies of all the submitted documents. One should clearly mark all the detected incorrect information of his credit report. It is a good practice to keep the copy of the complaint one filed with a law enforcement agency.

To establish creditworthiness, one should keep in mind the following guidelines:

• One should be careful about on time bills payment
  
  
• One should verify his credit report at regular basis and watch his debt accordingly
  
  
• One should keep his account balances below 75% of his available credit and keep an eye on his available credit

For future correspondence, one should also carefully notice the following information:

• A toll-free number and a reference, report, file or confirmation number inscribed on credit bureau report receipt
  
  
• Each report contains a fraud alert. The initial fraud alert stays on the credit reports for at least ninety days, although it may be extended upto seven years
  
  
• One should inquire to the credit bureau representatives about the procedures for getting additional reports.