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Understanding Credit Reporting <ul><li>What is a Credit Report? </li></ul><ul><li>What information does it contain? </li><...
What is a Credit Report? A credit report is a collection of information about you, mostly financial information, and works...
What is a Credit Report? <ul><li>Your Full Legal Name, and known aliases: Robert, Bob, Bobby </li></ul><ul><li>Current and...
What is a Credit Report? Sources of Credit Information Credit Reporting Agencies
How is Information Gathered? Information Chain Credit Report
How is Information Gathered? Flow of Information: Information Chain You Lender Credit Bureaus Credit Report
What is Credit Repair? An Over Simplified Analogy
What is a Credit Report? Laws Control Fair Use of Information You Lender Credit Bureaus Credit Report MaximumTime: 7 to 10...
It’s all a fantasy, so lets pretend Robert Smith Jones,  Jr. aka“Bobby Jones,  Jr .“ Example: You and your father have the...
How a Credit File is Created Parents House You “ Bobby, Jr.“ Rental Apartment Example: You Leave Home & Begin Renting
Credit Reports Help Determine Risk Landlord Credit Report Evaluation You Bobby, Jr.
How Mistakes Happen Landlord Your Application Bobby Jones,  Jr. 1234  Parents  Street Anytown, NV 89000 Employment: Burger...
How Mistakes Happen Landlord “ Bobby Jones,  Jr .“ Your Application Landlord Bobby  Jr . Bobby  Sr .
How a Credit File is Created Result: You‘re Approved & Begin Renting Happy Happy Joy Joy! Bobby  Jr . Bobby  Sr .
How Mistakes Happen Writes Letter Not True! Please Verify! Robert Smith Jones,  Sr. aka“Bobby Jones,  Sr .“ Bobby  Jr . Bo...
How is Information Gathered? Information Chain Credit Report
Top 3 Credit Reporting Agencies
You  Can  Repair Your Credit! Thank you for watching!
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What is Credit Repair? How Does it Work?

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http://www.LegacyLegal.com Credit repair is a process of attempting to clean up the credit history. This is a short video to help you understand what Credit Repair is, and how it works.

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What is Credit Repair? How Does it Work?

  1. 1. Understanding Credit Reporting <ul><li>What is a Credit Report? </li></ul><ul><li>What information does it contain? </li></ul><ul><li>Who assembles the information? </li></ul><ul><li>Where do they get information? </li></ul><ul><li>How do you repair/improve it? </li></ul>Basic Concepts
  2. 2. What is a Credit Report? A credit report is a collection of information about you, mostly financial information, and works as financial transaction history that is used by potential lenders, employers and others to determine your credit worthiness.
  3. 3. What is a Credit Report? <ul><li>Your Full Legal Name, and known aliases: Robert, Bob, Bobby </li></ul><ul><li>Current and previous addresses </li></ul><ul><li>Current and previous employers </li></ul><ul><li>Inquiries – History of who has looked at your report </li></ul><ul><li>Financial/Credit History </li></ul><ul><li>Public records </li></ul>Types of Information
  4. 4. What is a Credit Report? Sources of Credit Information Credit Reporting Agencies
  5. 5. How is Information Gathered? Information Chain Credit Report
  6. 6. How is Information Gathered? Flow of Information: Information Chain You Lender Credit Bureaus Credit Report
  7. 7. What is Credit Repair? An Over Simplified Analogy
  8. 8. What is a Credit Report? Laws Control Fair Use of Information You Lender Credit Bureaus Credit Report MaximumTime: 7 to 10 Years
  9. 9. It’s all a fantasy, so lets pretend Robert Smith Jones, Jr. aka“Bobby Jones, Jr .“ Example: You and your father have the same name You Your Father Robert Smith Jones, Sr. aka“Bobby Jones, Sr .“
  10. 10. How a Credit File is Created Parents House You “ Bobby, Jr.“ Rental Apartment Example: You Leave Home & Begin Renting
  11. 11. Credit Reports Help Determine Risk Landlord Credit Report Evaluation You Bobby, Jr.
  12. 12. How Mistakes Happen Landlord Your Application Bobby Jones, Jr. 1234 Parents Street Anytown, NV 89000 Employment: Burger King
  13. 13. How Mistakes Happen Landlord “ Bobby Jones, Jr .“ Your Application Landlord Bobby Jr . Bobby Sr .
  14. 14. How a Credit File is Created Result: You‘re Approved & Begin Renting Happy Happy Joy Joy! Bobby Jr . Bobby Sr .
  15. 15. How Mistakes Happen Writes Letter Not True! Please Verify! Robert Smith Jones, Sr. aka“Bobby Jones, Sr .“ Bobby Jr . Bobby Sr . Corrections
  16. 16. How is Information Gathered? Information Chain Credit Report
  17. 17. Top 3 Credit Reporting Agencies
  18. 18. You Can Repair Your Credit! Thank you for watching!

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