Creditworthiness

Your creditworthiness is determined by what is on your credit report. How you paid your bills, if you were arrested or if you filed bankruptcy, all play their part in how financial organization view you. The credit bureaus, all three who watch your credit, sell that personal information to financial agencies and banks across the globe. The three credit bureaus are: Experian, TransUnion and Equifax.
Having a credit report that is error free, clean and accurate is important. If you are declined a loan, you can obtain the name of the credit agency who gave you a bad report and you can do what you can to fix it. Get a copy of your report and check for errors. Any mistakes you find must be addressed in writing and mailed to them.
The agency you feel has the mistake will review your information and if they agree with you, the error will be fixed. Now, this can all be done quicker online where you can view your statement right away. You can see how important it is to check your report yearly to see that everything is correct and you are not being declined for loans because of someone else’s mistakes.