How To Repair Your Credit
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Welcome
Welcome -
The History of Credit
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Credit 101Understanding Your Credit
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Why Is Credit Important?1 Quiz
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What Is A Credit Score?1 Quiz
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FICO vs Vantage Scores1 Quiz
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What Is A Credit Bureau?1 Quiz
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What Is A Credit Report?1 Quiz
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What Is Credit Monitoring?1 Quiz
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Statute of Limitations1 Quiz
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Derogatory Marks
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Getting Started Repairing Your CreditGetting Started
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Your Consumer Rights and Protection6 Topics|1 Quiz
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Obtaining Your Credit Reports
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How To Read Your Credit Reports
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Disputing Negative Accounts On Your CreditDisputing Negative Marks
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Credit Repair Mistakes To Avoid
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Getting Organized
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How To Track Your Results
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Analyzing Your Credit Reports For Errors
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How To Write A Dispute Letter1 Quiz
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Mailing Your Disputes
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How Disputes are Handled
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How to Dispute Collections1 Topic
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How to Dispute Late Payments1 Quiz
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How to Dispute Inquiries1 Quiz
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How To Dispute Charge-offs
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How To Dispute Bankruptcy
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Student Loan Relief
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Identity Theft Relief
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Negotiating with Creditors1 Quiz
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Re-Establishing Good CreditAdding Explanatory Statements
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How To Build Perfect Credit Scores
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How Creditors Evaluate Your Creditworthiness1 Quiz
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Choosing the Right Credit Card
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How To Apply For a Credit Card
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Credit Builder Loans
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Credit ManagementBecoming An Authorized User
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Managing Your Credit
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Improving Your Credit Opportunities
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How to track your results
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How To Remove A Dispute Remark
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How to Protect your SSN1 Quiz
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ToolboxTool Box
What Is A Credit Report?
⌛ Video Length — 00:02:12
Lesson Summary
A credit report is a statement that has information about your credit activity and current credit situation such as loan paying history and the status of your credit accounts.
Most people have more than one credit report.
Credit reporting companies, also known as credit bureaus or consumer reporting agencies, collect and store financial data about you that is submitted to them by creditors, such as lenders, credit card companies, and other financial companies.
Creditors are not required to report to every credit reporting company.
Lenders use these reports to help them decide if they will loan you money, what interest rates they will offer you.
Lenders also use your credit report to determine whether you continue to meet the terms of an existing credit account.
Other businesses might use your credit reports to determine whether to offer you insurance; rent a house or apartment to you; provide you with cable TV, internet, utility, or cell phone service.
If you agree to let an employer look at your credit report, it may also be used to make employment decisions about you.
Credit reports often contain the following information:
Personal information
- Your name and any name you may have used in the past in connection with a credit account, including nicknames
- Current and former addresses
- Birth date
- Social Security number
- Phone numbers
Credit accounts
- Current and historical credit accounts, including the type of account (mortgage, installment, revolving, etc.)
- The credit limit or amount
- Account balance
- Account payment history
- The date the account was opened and closed
- The name of the creditor
Collection items
- Medical collections
- Utility collections
- Other miscellaneous collection accounts from unpaid creditors
Public records
- Foreclosures
- Bankruptcies
A credit report may include information on overdue child support provided by a state or local child support agency or verified by any local, state, or federal government agency.
Inquiries
- Companies that have accessed your credit report.
Now that you know what information to expect to see on your credit reports