What is a credit office?
The credit office is an organization that monitors the credit history and related information of individuals. Whenever someone requests loan, housing, employment or anything else that their credit history could have an impact, their potential creditor, landlord or employer can check the information in the file. If the Bureau shows less than satisfactory information in its report on the person, it may affect the chances of the person to receive a loan, rent or work. A bad credit message can also lead to a higher interest rate on a loan or credit card. Although these three companies share information, each keeps its own message and credit score for each individual. When someone asks for a credit line, housing or employment, the creditor or employer can look at the report and score of all three. For this reason, if the individual follows his credit message for Fraud or false information, it is good to ask for a copy of the message from each agency.
The credit authority receives information for its reports from individual creditors. For example, if someone has a loan with a bank, this bank will regularly report information to the credit agency - good or bad. If the individual is always with payments in time, this will show up in the credit report; However, if an individual delayed more than 30 days with one or more payments, the report will certainly reveal that each agency will also report a number of information. Everyone has personal data for each person who has received a credit or opened a bank account, including their name, date of birth, social security numbers, current and previous addresses and employment history. All this information is collected by monitoring people via CREDITOR Messages and Social Security Numbers. Although the individual closes the account or the account becomes inactive, the message will still display this information for seven to 11 years. Accounts that each content presidencyIt is in the loan report, there may be everything related to a loan, such as check and savings accounts, credit cards, loans and rental. The message shows the type of query and who did it. If too many questions are made in a certain period of time, the person's credit rating may be negatively affected. For example, if a person has declared a Bancuptcy, he or she will not be considered reliable and companies can hesitate to give him a loan. As a result, bankruptcy is included in credit reports. Even unpaid child support is considered to be an individual's reliability. This kind of information usually remains in the credit report for seven years.
Although the role of the credit authority may seem potentially harmful, especially those who have poor credit history, loan reporting agencies also protect the individual. The agency may inform individuals when negative information is added to the message, and in the USA each agency is obliged to provide one free copy of their credit reports every yearand. This gives people more control of their credit reports and a better chance of capturing fraud with identity. Each Bureau can also place a warning to a person's credit report upon request, helping to victims of identity theft in preventing any other fraudulent activity.