Christian Credit Report Agencies

Christian credit report agencies are agencies that keep track of everyone's financial activity with creditors and then report this activity to creditors that a person is seeking financial help with. Credit report companies send copies of the information to the lenders that a person is applying. They use a numeric system to rank financial reports based on financial activity of timely payments. A potential lender will make decisions about extending a consumer information based on the value number within these reports.

There are three large bureaus that creditors use today: Experian, Equifax, and Trans Union. Most money grantors, such as banks and car lending institutions, share information with one or more of these companies. As a general rule, these credit reporting agencies do not share information with one another, so any given person can have at least three different ideas of what their financial status is. While the three large bureaus are reporting most debt nationally, there are also local sources. These smaller credit report companies are not near as widespread as the three major bureaus. However, all credit report agencies must operate their businesses justly and must comply with the Fair Credit Reporting Act.

Financial history reports can have more information about a consumer than just their payment history. Personal files kept by credit reporting companies can include any law suits, legal judgments, or tax liens. There is also personal information available on a financial record, such as name, address, Social Security number, birth date, and any charge card open balances. Credit report agencies may also list the employer, spouse, income, and whether or not a person rents or owns their own home. Of course, payment history is the major information creditors are looking for, so any late payments to utilities or medical institutions can also be recorded. Psalm 11:3 says "If the foundations be destroyed, what can the righteous do?" This reminds all God's people that responsibility in life is important, so keeping track of what is recorded in personal financial records is important to God.

These bureaus must offer a consumer at least one free record per year, if this consumer has been denied privileges based on the information supplied by any report company. Consumers are encouraged to look at their financial reports more than once a year though. It is important to keep a watchful eye on a personal financial record to ensure that there is no identity fraud, false reporting, or mistakes. Contacting credit report companies and obtaining copies of the reports can be accomplished over the Internet. There are also many free advisors on the Internet that can help a person find out more about their financial report and credit report agencies.

Credit rating agencies offer reports to American consumers, financial institutions, and employers that request information about an individual's credit history. They can be found online or in a person's local area. Any company, that offers financial reports, receives information from one of the three main credit reporting agencies in the US. Equifax, Trans-Union, and Experian are the three major reporting groups and provide uniformity in information among other subsidiary bureaus or credit rating agencies.

All of these companies are for-profit institutions and can receive their services for a fee. A credit rating agency offers reports to consumers online within a few minutes of application. If for some reason, a borrower needs to know what his credit report is showing, it is simple and easy to get that information very quickly. These firms can provide a financial score. It is always good to obtain all three reports in order to compare information.

It has been estimated that almost 40 percent of an individual's financial history can be inaccurate, at one time or another, no matter which credit rating agency a borrower chooses. All three of the major credit rating agencies do not receive their information from exactly the same sources. There can be times that one company may receive information on a past due account when actually the borrower has paid it in full several months ago. Sometimes a bureau stores information without updating it according to loans paid off, bankruptcy issues erased, and a multitude of other smaller issues that can cause credit problems.

It is advised that consumers obtain their reports from these bureaus at least once a year in order to correct any mistaken information. If a borrower does not request a report from a credit rating agency in advance of applying for loans or jobs, he may not know there is a problem until he is denied a loan or employment. It can be costly for consumers when there is a mistake, so be diligent in periodically contacting these bureaus in order to determine where your financial history stands. If a person finds a discrepancy, he doesn't need to despair. Our first line of defense is God. Proverbs tells us to "trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge him, and he shall direct thy paths" (Proverbs 3:5-6). Any financial problem can be overcome through God's strength and wisdom.

Christian Credit Report Repair Services

A credit report repair service can offer the individual the opportunity to fix any financial problems that may burden them. Credit report repair services might involve the consumer seeking professional help from those who are educated in dealing with financial matters. Whether the consumer speaks to an attorney or a financial counselor, many solutions can be found. A financial counselor might ask the individual their history and will come up with ways the person can work on improving their financial standing. If the consumer chooses to talk with an attorney about a credit report repair service, they might offer information about the legal process that must be completed to fix any errors that may exist. Whatever road the individual decides to take, there are a variety of organizations and programs available for assistance.

Finding the right service can be a difficult task. There are numerous agencies, organizations, legal representatives, and other individuals who have knowledge in this area and offer assistance. The problem is finding the correct credit report repair service for the needs of the consumer. Depending on the problems the individual is facing, there may be many different solutions that will work. For the consumer that seems to be falling into constant and continual debt, finding an agency that can help them realize their problems, seek consolidation, and create a spending budget may be the best solution. If the consumer has major mistakes and errors present on their financial records, they may need to seek a lawyer to help in disputing these incorrect charges. Before choosing the appropriate organization, the individual should investigate the various credit report repair services available in order to determine which will best fit their current situation.

Seeking help from a family member, friend, or coworker can often be helpful in finding a credit report repair service. Many people face financial problems and have to seek help from organizations and agencies in order to correct any errors or change their financial outlooks. Speaking with trusted individuals will allow a consumer to gain information on potential solutions and may guide them in the right direction toward a successful and legitimate company or organization that can offer credit report repair services. Financial matters can often become overwhelming and out of control, but seeking help from a trustworthy organization can be a great step toward reclaiming or discovering financial freedom. "But I am poor and needy: make haste unto me, O God: thou art my help and my deliverer; O LORD, make no tarrying." (Psalm 70:5)

You can do a credit report repair yourself by obtaining a free annual copy from all three major credit bureaus, Equifax, TransUnion, and Experian. Many sites on the Internet offer suggestions to handle this. It is possible to dispute derogatory information on your financial history and have an item completely removed. If the disputed item doesn't get answered by the creditor and returned to the bureau, in many cases the bureau will remove the item. The bureau has 30 days to investigate any questionable item by the consumer. A person may need to follow up with a repair after 30 days if updates haven't been received. This process may take some time to accomplish, and diligence and patience may need to be exercised to see results.

If a loan has been denied, the consumer may use the denial letter to receive a free copy of his report. Entitlement to a free copy might also include seeking employment. When conducting a credit report repair yourself, check all personal information, loan limits, recent inquiries, and all accounts listed. With identity theft being prevalent, checking all information is a good idea. Correct all personal information through the credit bureau by writing a letter or using the forms provided.

The Fair Credit Reporting Act protects the consumer's rights. When writing to the bureau to point out questionable information, send any copies of documentation to prove your case. Stating the facts and explaining the dispute clearly will help the bureau perform a successful investigation. Understanding a person's rights will assist the consumer in a successful repair. The bureau should send the consumer updates of any changed information due to disputes. They should also provide the name, address, and phone number of the party providing the updated information. After investigation, if the consumer is not satisfied with the update, a statement by the consumer may be added to the report.

There are reputable Christian financial counseling organizations that can offer advice on how to credit report repair yourself. The on-staff counselors usually have experience and are trained in areas concerning loans, debt management, and budgeting. To successfully complete an application, seek some counseling from someone who is knowledgeable. Some online sites offer sample letters for disputes to the credit bureau. There are also various companies who sell kits with the forms inside to begin a step-by-step process. God wants us to be successful, as long as we walk in the Spirit and do His will and rely on His Word. Joshua says, "This book of the law shall not depart out of thy mouth; but thou shalt meditate therein day and night, that thou mayest observe to do according to all that is written therein: for then thou shalt make thy way prosperous, and then thou shalt have good success" (Joshua 1:8). A credit report repair yourself begins with this trust in God.

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