DallasCreditRepairYour credit report is the documented history of your financial activities where you either borrowed or financed a purchase. In the report you will find:

–   Who you’ve borrowed from
–   How much money you’ve borrowed
–   How much money you still owe
–   Your Payment History
–   Who you owe money to

Essentially, if you conducted any financial business where you didn’t pay cash or settle your debt, it is possibly reported on your credit report. Not every business reports your payment history to your credit report. For example, when you apply for a cel phone and make monthly payments, this does not show up on your credit report. However, if you close the account and did not pay your final bill, the phone company may report this failure to pay on your credit report.

WHO CREATES THESE CREDIT REPORTS?

Glad you asked. The answer is (as I’m sure you know) the “Credit Bureaus”. The top 3 credit bureaus are Equifax, Experian, and Transunion. They are also known as “Consumer Reporting Agencies”. They have one mission and one mission only: Collect and evaluate your credit information for the purpose of SELLING this information to companies that lend you money. That’s right! Their goal is to simply sell your information to the businesses that you do business with. And the more negative your information is, the more they can sell it for. This is why they aren’t excited to correct inaccurate information in your credit report. This is the only example in life where your value increases as your situation worsens. Go figure.