|
|
Post by cyclone on Jun 1, 2019 5:33:12 GMT
Everyone who's ever borrowed money to buy a car or a house or applied for a credit card or any other personal loan has a credit file.
Because we love to borrow money, that means almost every adult Canadian has a credit file. More than 21 million of us have credit reports. And most of us have no idea what's in them.
Are there mistakes? Have you been denied credit and don't know why? Is someone trying to steal your identity? A simple check of your credit report will probably answer all those questions. And it's free for the asking.
|
|
|
|
Post by dhsdghdh on Jun 1, 2019 5:33:49 GMT
Experian, Equifax, and Trans Union all collect information from court records, banks, credit card companies, finance companies, department stores, cellular phone companies, court records, and many other companies issuing credit. The “Big Three” do not necessarily have the same credit information because not all creditors send reports to all three agencies and the agencies do not all collect information from the same public records.
|
|
|
|
Post by dfhsdfjndf on Jun 1, 2019 5:34:34 GMT
Experian, Equifax, and Trans Union all collect information from court records, banks, credit card companies, finance companies, department stores, cellular phone companies, court records, and many other companies issuing credit. The “Big Three” do not necessarily have the same credit information because not all creditors send reports to all three agencies and the agencies do not all collect information from the same public records. When a business inquiries into or "pulls" your credit report, a search program or algorithm pulls information from the CRAs’ vast databases based on your "personal identifiers", such as your name, address, date of birth, and social security number. The search algorithm is supposed to filter out obsolete credit information and credit information that doesn't belong to you. The remaining information is combined into one report. Your credit report isn't something fixed since the information used to create your credit report is constantly changing as creditors constantly provide new information about you. |
|
|
|
Post by cyclone on Jun 1, 2019 5:34:48 GMT
Fraud, data entry mistakes, and improper merging of information by the CRA are all examples of common errors. The errors can be caused by the creditor, the CRA, a thief, a collection agency, or public record.
|
|
|
|
Post by dfasghg on Jun 1, 2019 5:35:17 GMT
Fraud, data entry mistakes, and improper merging of information by the CRA are all examples of common errors. The errors can be caused by the creditor, the CRA, a thief, a collection agency, or public record. The creditor or "furnisher" of information to the CRA provides the information in a database format that allows the CRA to bring the information right into its database without entering everything again. The individual pieces of data are known as "fields." Some creditors use different database formats, leading to problems in providing correct consumer information, especially regarding bankruptcy. |
|
|
|
Post by fgzsdhjsd on Jun 1, 2019 5:35:35 GMT
You can sue collection agencies that improperly report the information. Some companies intentionally (and illegally) place collection accounts on credit reports to get the victim to pay. Improperly reported information can also appear because creditors and credits agencies sometimes don’t provide enough identification details when inputting new information into a file.
|
|
