3 in 1 Credit Report: Know Your Credit Worthiness!
What is a credit report? A credit report contains all the financial details of a borrower along with his personal details. It includes the detail account of debts taken, defaults and unpaid dues etc. in short it reflects the credit worthiness and financial soundness of a borrower. It is considered as a reliable and acceptable source. Also creditors decide terms and conditions on the basis of this credit report.
Transunion, Equifax and Experian are three credit agencies that issue credit reports. It is quite possible that information provided by these agencies will differ from one another. To make it transparent and free from errors 3 in 1 credit report is prepared.
This report plays an important role in approval of your loan amount. As before approving your loan application this report is analyzed and taken into consideration. And on the basis of the credit scores your application is approved or rejected by the creditors.
The positive aspect of this report is that it shows if borrower falters payments. All the records and credit like defaults, late payments, missed payments, arrears; CCJs and IVA are incorporated in the 3 in 1 credit report. Such defaults show up negative in your credit report and affect it. You can compare all the three reports and check for the missing information. This will enable you to keep up your records good. On the basis of your credit history and records you are categorized as a good or bad creditor.
You can easily apply for 3 in 1 credit report online and know your financial standing too. No matter where you are you can easily register by filling up a simple online form and get it for free. There are various companies that provide you with credit report but before applying do check the credibility of the company well.
Sophie Wilson
http://www.articlesbase.com/credit-articles/3-in-1-credit-report-know-your-credit-worthiness-679499.html
February 25th, 2010 at 6:46 am
How is it possible to find an apartment with a car repossesion on your credit report, and an applicable explan
It seems to me that I cant get an apartment anywhere because of my credit. I have an apartment right now in my name and my lease is up. I want to move to a bigger place but theres on problem, for me to be so young my credit situation is so ugly. My ex-man wrecked my car a year ago and the insurance denied coverage because he was an excluded driver. Before the car dealership known as
(DRIVE-TIME) got the information from my insurance, they thought they should take it into their own hands and reposes my car. All of my payments were on time, they just did that so they can sell a savaged tottalled car.It lowered my score from 740 to 570. Now the apartments just deny me. I have 2 jobs one of them waitressing and one of them office work. What can I do to get approval. I have no parents and I’ve been on my own for 2 years. I’m 19 and have a lot going for myself but these people that approve others don’t care. How can I make them see I have credit worthiness.
February 25th, 2010 at 11:48 am
I don’t see why they won’t rent to you. Many years ago I was in a situation like yours and had to pay much higher than normal security deposit. Have you asked this question and can you afford it?
References :
February 25th, 2010 at 11:50 am
You are allowed to include a short statement on your credit report to explain the circumstances behind bad credit. Try to keep it under 500 words, because the database only allows so much space to input a consumer statement. But I would recommend this route, because then at least those pulling your credit report can see your side of the story.
To add it, just write it out, and mail it to the three credit bureaus. (Equifax, Trans-Union & Experian) Google for their mailing addresses, I don’t have them on hand.
Good luck!
References :
I used to work for Trans-Union