Credit reporting companies are organizations that utilizes a person's credit history to issue a certain number that indicates future credit worthiness. These agencies can be accessed by any creditor with the intention of evaluating an applicant's personal debt history. There are three nationally recognized reporting companies. These agencies are Experian, Equifax and TransUnion. Each of the three major agencies retains its own information, and may report differently than one another. It is important for each person to gain copies of their own reports from all three major reporting agencies in order to review reports for accuracy. And, when wanting to find a service to help evaluate the sum of all three scores posted, consumers can also turn to a Christian credit reporting company.
Sometimes a low score is caused purely by inaccuracies on a credit report in name, employment, balance owed on cards, or charge accounts that were not placed there by the individual. Misspelled names listed as an "alias" are the biggest inaccuracy. Each time a request for a loan or money is entered and credit reporting companies are required to offer a numerical score, the information submitted is added to the report. Unfortunately this results in human error taking precedent over facts. The importance of regular monitoring is vital to the success of maintaining a proper and positive score. And, a Christian credit reporting company can offer these monitoring services, giving concerned consumers trusted advice and guidance.
These agencies are typically in business, not to serve the applicant, but to serve the lender/creditor. There are two types of reports offered by credit reporting companies, the quick version and the full version. The quick version offers a numerical value only. All contested notes on the report are not viewed. Those that are buying large ticket items such as a car or home will be fortunate to have the lender pull the entire full report version from all three major companies. This way, the lender can review inaccuracies and receive explanations for discrepancies.
Those that rely on high credit scores should enroll in an agency monitoring program. Christians may want to consider using a Christian credit reporting company as a monitor. All of these agencies are offered online and provide monthly reports conveniently into an email account. This type of monitoring is becoming popular with the growing developments of technology and telecommunications. It is advised that those seeking to correct inaccuracies or raise a score to seek professional financial help. "A good name is rather to be chosen than great riches, and loving favour rather than silver or gold." (Proverbs 22:1) The three major companies that were listed earlier in this article play a big part in determining the interest rate and types of loans offered to an individual, so it is imperative to keep scores in the positive ranges.
http://www.christianet.com/bankruptcy/christiancreditreportingcompany.htm
