A calculative report about your credit affairs is what your credit report holds. Some companies or agencies provide you with these reports as per your progress in credit score. But you better be careful in this too because many fraudulent companies can trick you for the information.
We are here to assist you with not getting tricked by these types of companies and seek bad credit help. A credit report consists of some of the columns which makes it a legitimate document and you should have knowledge about them before you fall for any of these report results.
● Individual details
This column includes all the personal and residential information of the individual such as name, address, DOB, earnings and many such things.
This part of the report involves all the bank accounts from which the lenders give the money to the borrowers or the borrower pays to the lender. In simple words, this is the part where all the actual evidence and proof of the debt stands. This proof includes the name of the account, holder of the account, balance, etc.
● Enquiry information
This information creates a huge impact on your credit report because it has 2 types of enquiries: soft enquiry and hard enquiry.
A soft enquiry is where you check your balance or credit score for any reason whereas a hard enquiry is bad and it can affect your credit score for some time as compared to a soft enquiry. It’s an enquiry done by the lender who looks into your report for some reason and it may affect your future credit report. So you can say that soft enquiry is an ordinary one and feels like it was never there, but the hard one may slap you on the face.
● Public records and collections
This column includes all the information related to any legal issues you had in terms of taxes, returns, bankruptcies, consumer proposals or any type of case which involves money and legal authorities in it will come under this.
Keep a consistent eye on the originality of the information on the credit report
We know a credit report is a very crucial document for an individual but mistakes can happen, and you are the one who needs to be alert enough to catch them. These mistakes can drop off your loan which you might want to get in the future.
The mistake could be of any type like spelling issues or in consumer proposal: bankruptcy is written, etc.
As we mentioned that mistakes could happen for which there are credit counselling services Vancouver for the borrowers to correct their mistakes. The mistakes that credit report manufacturing companies make can also be solved by the 2 bureaus of Canada which are Equifax and Transunion. They are the two correctors who will manufacture the credit report with the right information as per the proof you provide them with.
Many fraud companies offer you bad credit help, Vancouver and make you fall for the wrong information but this is the time when you need to be careful and double-check all the details that we told you above. Contact Credit720 for reliable credit counselling services in Vancouver.