What Is a Credit Report?

by DeLadurantey Law Office, LLC on May 7, 2010

Simply put, a credit report is a document that allows credit agencies to judge what kind of a lending risk you are to them. That is, it is a document that assigns a number to you based on how recommended it is for a bank to lend you money. Being familiar with what a credit report is, what it contains, and who issues it can therefore be a powerful tool in personal finance.

Credit Report Basics

Credit reports are issued by a number of credit agencies, which pass these scores on to lenders. This score is called a FICO score, because it is based on a system originated by Fair Isaac & Company. In the United States, the three major credit companies that score individuals are:

  • Experian
  • Equifax
  • TransUnion

Credit reports can be a combination of credit score and credit history, giving both a general indication of a borrower’s ability to repay loans, and a more in-depth look at his or her financial history.

If you or someone you love is considering going through debt negotiation or filing bankruptcy to overcome heavy debts, the Milwaukee debt negotiation attorneys of the DeLadurantey Law Office, LLC, may be able to help you. To learn more, contact us today by calling 414-377-0518.


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