CHAPTER ONE Credit bureaus
Credit bureaus are agencies that collect information and organize it into reports about an individual’s borrowing and credit habits. They gather personal data like your name, address, phone number and employer. More importantly, credit bureaus compile information detailing your history with credit. Outstanding debts, accounts in your name, payment history and public records are additional information credit bureaus collect. Public records could be liens, bankruptcies or foreclosures, to name a few. Credit bureau agencies create individual files using information they have gathered. Lenders reference these reports when evaluating your request for credit. Landlords and employers might also review credit reports.
THE THREE LARGEST AND MOST PROMINENT CREDIT BUREAUS ARE: Experian Equifax TransUnion
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