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Credit Bureaus and your credit reports
It is important to understand that Credit Bureaus are nothing
more than keepers of your credit account records.
Credit
Bureaus keep a record of:
-
who has given you credit.
- when
they gave you credit.
-
how much credit you are given.
- how
much your current payments are.
- whether
or not you paid it back on time.
The
lender will check your credit report to verify financial history
when you want to obtain credit for:
- credit
cards accounts
-
Maryland mortgage rates/loans
-
misc. loans
-
financing for a car
- home
finances
- personal
or home property leases
-
apartment rental
- employment
The
people who request your credit file pay the Credit Bureaus.
Credit Bureaus own large computer systems capable of storing credit
information on everyone in the United States. However, because of
the large amounts of information, their method of storing information
is very basic and may have many errors. You should always get a
credit report before applying for any type Maryland mortgage loan and verify
all the information is correct. If not, this will give a chance
to correct errors, before the Maryland mortgage lender views your report.
| The
top three Credit Bureaus - click bureaus' name to view their
web site. |
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Trans
Union Corporation
P.O. Box 1000
Chester, PA 19022
(800) 888-4213 |
EXPERIAN
P.O. Box 2002
Allen, TX 75013
(888) 397-3742 |
Equifax,
Inc.
P.O. Box 740241
Atlanta, GA 30374
(800) 685-1111 |
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