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A credit report or credit file or credit history is a type of report that a person can obtain that shows the finical behavior of the individual. The credit report also shows the identification information in a consumer friendly format. This helps the person to see what the lender or business would see when they look at the person’s credit history. A person’s credit report is stored at a credit reporting agency and the agency will share with others the person credit history and score when they are contacted. The agency is also there to help the person with account disputes. Experts have answered many credit report questions, like the ones below.
If there is a wrong reporting issue with the credit report regarding a medical bill that is paid in full, then the responsibility would fall onto the medical company to report that the bill has been paid. The person would need to start a credit repair exercise to get the bill taken off their credit report that reflects badly. The person would need to start by sending a certified letter to the company that is the dispute and make sure they include the company should report the proper bill paid in full since this misreporting has left the person’s credit report tarnished.
When there is a “skip” on a credit report, then it generally refers to a person that has moved and gave no new address to the mortgage company. In a lot of cases, the mortgage company can try and collect this debt, bit in some states the contracts there may be a non-recourse clause making it to where the company could not go after the person. The person would need to look at their contract and see if the clause is in there and if it is, then the mortgage company cannot go after the person but if it isn’t in there, then the mortgage company may have sold the debt to a third party and the third party is the one that reported the information to the credit reporting agency.
If the person receives a judgment for any reason from a judge and they do not pay, then the courts can report it to the credit report of the person. The person can write the credit bureau and dispute the debt, but if the debt is owed then the person is responsible to pay the debt, but if the debt is not owed, then the person would need to dispute it and try to get it removed from the credit report.
In most cases, since the reporting of the late fee was an error, then after the waiting period the score of the person should remain as the new score on their credit report. The person would need to keep the loan current and make sure that there are no more errors in reporting the payments to the credit agency.
Credit reports help to determine if a person is able to get a loan or other finical services that they may need. When there are issues with a person’s credit report, then they may have questions regarding how they can fix it or how the issues will affect them. When these questions arise, then the person would need to consult an Expert.