Most of the information contained in credit files is favorable and helps consumers credit. Information about loans and credit bills that have been paid as agreed and information on earnings, other income, and assets help creditors determine quickly the credit-worthiness of applicants. However, credit bureaus also collect information on unpaid bills, defaults, repossessions, unpaid taxes or judgments, bankruptcies, and criminal records. Such information may indicate that a consumer is a bad credit risk and a creditor can use it as a basis for denying credit.
RSS
Most of the information contained in credit files is favorable and helps consumers credit. Information about loans and credit bills that have been paid as agreed and information on earnings, other income, and assets help creditors determine quickly the credit-worthiness of applicants. However, credit bureaus also collect information on unpaid bills, defaults, repossessions, unpaid taxes or judgments, bankruptcies, and criminal records. Such information may indicate that a consumer is a bad credit risk and a creditor can use it as a basis for denying credit.