Gov free credit report Salt Lake City

Late payments listed as 30 days late, 60 days late, 90 days late, and 120+ days late. Charge offs Accounts that are in default and which the creditor has charged off and reported as a loss. Collections An account that has been turned over to a collection agency. After the "bad stuff" your credit report will list all your accounts in good standing. We don't know the exact formula FICO uses to compute your score, but we do know that the more accounts in good standing, the better.

So if your credit needs repair, keep as many accounts in good standing as possible. You may not recognize the names of your creditors as listed on your credit report. It will help to know that "I" stands for installment loan, "R" stands for revolving credit, and "M" stands for mortgage. If you get your credit report and see unusual names and can't match them up gov free credit report Salt Lake City with any of your accounts, do not hesitate to call the credit gov free credit report Salt Lake City bureau that reported it in fact, do it immediately. Only if you know who is reporting what gov free credit report Salt Lake City can you address the validity of the entry. free credit report without using a credit card And of course, if you find out "who" and you're not familiar with the company, you need to file a protest immediately. You could be looking at a case of stolen identity. Realtors and lenders are almost as gov free credit report Salt Lake City bad as computer tech people at tossing out words and phrases you don't understand.

The funny part is, sometimes even they don't know what those words really mean. It's not really a gov free credit report Salt Lake City word, but the initials that identify the score given to your credit rating. A few Realtors and a few lenders have some idea of how those scores are reached, but they probably can't tell you what the letters stand for. They're just the initials of the Fair Isaac Corporation. free check credit So now you're wondering what or who a Fair Isaac is, right? Bill Fair was an engineer, and gov free credit report Salt Lake City Earl Isaac a mathematician. In 1956 they formed a consulting and decision management service, and in 1981 devised the credit scoring system now known as FICO. Under their system, each of a set of details about an individual's financial history is scored and given a weight, based on the past performance of others whose financial history is similar on that particular detail. Among other things, the system gives a score to: The length of time gov free credit report Salt Lake City an individual has had and used credit The Existence of bank accounts The number of recent credit inquiries Debt to income ratio Debt to available credit ratio Bill paying history Lenders believe that by applying this compiled score, they know the statistical likelihood that a person will pay his or her debts.

It must work, because FICO has become the standard, and this publicly traded company is a giant in the world of finance. With over 3,500 employees on 5 continents, FICO has an annual revenue of gov free credit report Salt Lake City over $800 Million. commercial credit reports Contrary to what some might believe, FICO is not associated with the government. In addition to providing credit scoring, FICO still provides consulting and management services. If your FICO score is over 720, you'll have an easy time getting a loan or at least you would have before the current financial crisis. If your gov free credit report Salt Lake City score is under 600 you'll be considered a poor risk, and in today's climate probably will not qualify for a mortgage loan.