Credit Reports

A credit report is a record of a person’s credit payment history. A credit report allows a lender or creditor to decide whether or not to grant you credit. Most of the information comes from companies the person has done business with.

A collection agency has the ability to report past due accounts to credit reporting agencies. This can often be used as leverage to help a debtor to expedite his payments, but it will not work for every situation. If the debtor pays after the debt has been reported, it will be shown as ‘paid’ but will not be taken off the report until a certain amount of time has passed.

For more information or to order your own credit report, visit the sites below:

Equifax
Experian
TransUnion