This is reported in your credit reports - and what does not
Personal information
This is happening on your reports :? Identification information such as your name, social security number, date of birth, address the current and previous address, marital status and number of dependents you appear on your reports. Reports from some people may also have information on employment that was included on a credit card application or a loan.
What is not: The data are not relevant to identify you for financial purposes will never appear on your credit reports - which includes your sex, race, religion, medical history, criminal record, the status of public assistance and political affiliations will not be reported. Although the number of dependents you have will be displayed identification information about them will not. The same with all current or former spouses, except their name placed on joint accounts.
Public records
This is happening on your reports: saves public information such as bankruptcies, foreclosures, lawsuits, liens and judgments will all reported to the credit bureaus and to show on your credit reports.
What is not: The debts not arising out of a contract or agreement by the consumer to pay, which includes tickets and fines issued by the government. As indicated above, criminal records are not included in your credit reports.
Utilities
This is happening on your reports: For most utility companies do not report your timely payments to credit bureaus, but that doesn 't mean it is not important to keep them, since the accounts that are in default or are handed over to the collections will be reported to credit bureaus.
What is not: The monthly payments you make on your cable, electricity, water, Internet, mobile phone and other bills are usually not reported to credit bureaus, but as mentioned above, failure to pay a bill can have a detrimental effect if your account goes into collections.
Loans, credit cards and other credit accounts
What goes your reports: Also referred to as commercial lines, loan, credit card or other credit account that you have will appear on your credit reports and your reports will be updated to reflect the account balance, amount due, the amount paid and the account status (current, past due, paid, etc. .). This includes accounts that are in collections, as well as debts that have been settled.
What does not work: Your interest rate for loans or credit cards you had will not be visible on your credit reports, so you do not have to worry about potential creditors get their hands on this information. In addition, the information does not remain on your credit reports for ever -. Bankruptcies more than 10 years and any accounts or credit collections written off older accounts over seven years will not be displayed any longer
medical debts
What happens on your reports: in the past, any medical debt that went into collections was reported to your credit reports, but from now on, only the debts were in the collections for more than six months will be added your credit reports.
What is not: In March 2015, thanks to support plan for domestic consumers, the three credit bureaus have agreed to a 180-day waiting period before the medical debts are reported. This gives a grace period which will hopefully avoid debts sent to collections after the insurance compensation takes more time to deal with a negative impact on credit reports in the future.
Credit Inquiries
what happens on your reports: Requests for access to your credit reports by financial institutions such as lenders or credit card issuers are known as "hard" inquiries and will appear on your credit reports. These inquiries can remain on your credit reports for up to two years, and they generally require your permission (so you should be aware when they pass). Hard inquiries typically occur when you apply for a credit card, a mortgage or any type of loan, but sometimes other types of activities can encourage a difficult investigation.
What is not: Not every request your credit will appear on your credit reports. investigations "Soft", which include checking your own credit score, credit checks performed during a background check by employers or rental companies and those pre-approved loan or credit card offer you receive in the mail are considered soft inquiries and therefore will not show on your credit reports.
Deciphering your credit reports can be a difficult process, but to understand exactly what is not on them is an important step in the process. You can learn on your credit reports by reading our guide to the basics. Find something on one of your credit reports that does not seem right? We have how to dispute errors on your credit reports in this position. For more information about staying on top of your finances in general, follow our blog on personal finance.