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What pieces of information are required by law to be reported on the credit report by the the credit grantors?
Wiki User
∙ 19y ago
Nothing. There is no federal or state law which requires or compels credit reporting. It is a totally voluntary activity. The Fair Credit Reporting Act dictates that IF information IS reported, it must be correct. The usual and ordinary information that gets reported voluntarily is name of creditor, some type of account #, date opened, date last updated/reported to the bureau, high credit limit (most highest amount of credit used) or original amount of the loan, balance as of the date last reported, terms (which may or may not be your exact payment amount), the rating and 30-60-90 day counters which give an overview if the account has been paid on time. Other information may include the actual late dates, and other notations/statements like "account closed" or "charged off". You can print yourself a copy of the FCRA by following links at www.ftc.gov
Wiki User
∙ 19y ago
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Why aren't utility bills reported to credit agencies if they are paid on time?
Utility companies are not credit grantors. You are not borrowing money to be paid back in a specific time period. You are paying for a service when you pay your utility bill.
Can you get a foreclosure off your credit report?
A foreclosure will be expunged from a person's credit report after seven years have expired from the time the foreclosure was reported. Valid information on a credit report cannot be removed until the required time limit for reportage has expired.
How long before negative information appears on credit report?
Immediately, that it is reported to the credit agencies.
What information will be required for an application for business credit cards?
The information that will be required for an application for business credit cards is type of business you do and your income.
Will the primary and co signer have bad credit if a car is repossed?
Yes. It will be reported on their credit records.Yes. It will be reported on their credit records.Yes. It will be reported on their credit records.Yes. It will be reported on their credit records.
Is there a time limit on disputing inaccurate credit information?
There is no statute of limitations in disputing information on your credit report. If it is being reported, it can be disputed. Simple enough! ;o)
How often does your credit report get updated?
Credit information is forwarded to the three major credit reporting agencies by lenders and creditors, so the exact reporting varies. Usually it is reported monthly. This makes it important for consumers to have access to credit information on a regular basis.
What information does not goes into your credit score?
Your credit score reflects how well you repay debt. So all accounts which are not extensions of credit are not reported to your credit report. Also, personal information such as: - Race - Gender - Income - Address
How Long Does Information Stick To The Credit Report?
Credit reporting agencies stores information from credit grantors and public record information, including bankruptcy, choice and liens. Skipped obligations and many criminal record products stick to the credit history for seven years, except for Chapter 7, 11 and 12 bankruptcies, which remain for ten years, and delinquent tax liens, which remain for approximately 10 years. Active positive information may stick to the report indefinitely. Demands for your credit report stick to the credit history for approximately 2 years.
Where does the information contained in a credit report come from?
The information in a credit report comes from financial institutions, lenders, and creditors that report your credit activities to credit bureaus. This includes details about your credit accounts, payment history, outstanding debts, and any public records such as bankruptcies or liens.
Will a repo in California appear on a credit report even if fees are paid and the car is redeemed if so how is the information reported?
Repos are reported by the LENDER to the CRA.
How long does a bankruptcy 13 stay reported?
Any type of bankruptcy will remain on a credit report for the required ten years.
