Golden Road Credit Services Inc.

Although each credit reporting agency formats and reports this information differently, all credit reports contain basically the same categories of information. Your social security number, date of birth and Although each credit reporting agency formats and reports this information differently, all credit reports contain basically the same categories of information. Your social security number, date of birth and employment information are used to identify you. These factors are not used in scoring. Updates to this information come from information you supply to lenders.

The following information can be found on your credit reports:

• Public Records - This includes bankruptcies, judgments, tax liens, and in some states, foreclosures. Any court records, whether paid or unpaid, satisfied or not satisfied, are considered negative items by creditors.
• Merchant Trade Lines – This includes all credit cards, mortgages, auto loans, lines of credit, department stores charge accounts, etc. If there is any history of late payments or defaults on your behalf, such as a charge off, repossession, or included in a bankruptcy, the item will be considered negative by credit grantors, whether it was paid up to date or not.
• Collections – When an account is defaulted on, often times it is referred to or sold to a collection agency. Collection accounts are considered negative items whether they are paid or unpaid. Often times, parking tickets and returned checks are also listed as collections on your credit report.

• Inquiries – There are two (2) types of inquiries:

 

• Anytime a potential credit grantor looks at your credit report, an inquiry will appear on your credit report. If this is an inquiry has been initiated by you, such as applying for a loan, rental, or credit card, this information can appear on your credit report for 2 years and will be seen by all credit grantors who obtain your report.

 

• These are inquiries made by credit grantors without your approval for the purposes of making you a potential offer of credit such as a credit card or credit line. These inquiries do not affect your credit score. Also if you wish you may contact the consumer credit bureaus and asked to be excluded from all such promotions.

 

•     Personal Information - Your name, maiden name, address, past addresses, social security number, and employment history may appear depending on the consumer credit reporting agency.

What kind of mistakes can affect the information on my report?

When a credit report contains errors, it is often because the information reported on it is incomplete, inaccurate, unverifiable or the report contains information about someone else. This typically happens because:

• The person applied for credit under different names (Richard Smith, Rick Smith, etc.) Someone made a clerical error in reading or entering name or address information from a hand-written application.
• The person gave an inaccurate Social Security Number, or the number was misread by the lender.
• Loan or credit card payments were inadvertently applied to the wrong account.