What is credit control?

Action accepted by a potential creditor to determine whether a person meets his standards to be an extended loan calls credit control. This means looking for a detailed analysis from a loan or loan report. The message usually contains things such as date of birth, social security number, current and in some cases the previous address, employment history, current employer and income and history of loans and other debts. Includes information on timely payments - or their lack. If the research shows that a person is a poor risk of repayment of debt, a loan or fee card may be rejected. In cases where the loan is approved despite less than a shining report, the amount of the loan or credit limit may be reduced, the interest rate may be increased or both. Most actually will require at least two messages from different sources and compare them. Three of the best credit agents JSOU EQUIFAX, Trans Union and Experian, which were originally called TRW. These are well -established, frequently used sources for loan information.

In the US, the Fair Loan Act stipulates that each person can obtain a free copy of his credit report once a year from any recognized credit report. There are some exceptions that allow individuals to get this information more than once a year, for example if they are denied loan, insurance or employment, or if their fees or interest rates have increased in the last 60 days. Consumers can write to the credit office, include evidence of the situation and apply for a message.

May Consumers also buy a message by sending a written request to the credit office by mail or ordering online. It is good for people to watch what is in their credit message to help maintain a good credit, not only because with sI can lend money when they need it, but also to ensure that they receive the best rates.