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Welcome. September 10, 2010
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Credit Report
Your report is a detailed record of your financial history for up to the past ten years. Credit reports are prepared and maintained by the three major credit reporting agencies: TransUnion, Experian and Equifax. Credit Reports are used by lenders to determine a loan applicant's creditworthiness, and can include:
- Personal data (current and previous addresses, social security number, employment history)
- Summary of credit history (number and type of accounts that are past-due or in good standing)
- Detailed account information and payment history
- Inquiries into applicant's credit history (number and type of inquiries into applicant's credit report)
- Details of any accounts turned over to credit agency (such as information about liens, wages garnishments via federal, state or county records)
Once negative information appears on your credit report, there is only so much that you can do to clear it up, provided that the information is truthful and accurate. Generally such information remains for about seven years, while bankruptcy filings typically stay on the credit report for about 10 years. The best way to avoid negative entries on your credit report is to consistently pay all of your bills on time, even if you can only pay the minimum payment.
Your credit report holds information on your entire financial history. Banks and other lenders will use the information contained in your credit report to calculate the amount of money that you will be able to borrow, your particular interest rate, and other terms of your loan. Every lender is different. It is often helpful to work with a loan consultant in order to use the positive aspects of your credit report to find a lender in their extensive network that will maximize your borrowing potential.
Individuals with all different credit scores can benefit from working with American Unsecured. The loan programs offered from American Unsecured give clients the ability to choose the type of loan that works best for them. Whether it is a personal loan, a business start-up loan, or a cash advance, American Unsecured has a program that is right for you and your financial needs.
