Credit Report Reviews

The credit bureaus and your creditors work very hard to keep up-to-date guides and more precise in their financial habits for your credit report. However, it can cause some negative information to appear on your credit report. In any case, you may be able to remove certain negative items from your report.

Creditors

The US national credit agencies get most of their information from their creditors. If you miss a payment, the lender can report it to the agencies, but need not. Sometimes, lenders give you a break and not reporting the occasional error, such as a late payment of 30 days. Lenders do not have to sign up to the national credit reporting agencies, and many smaller lenders do not sign up due to the extra time and money it costs them.
Credit bureaus and Public Records

Ultimately, the credit bureaus handle keeping your credit history and putting negative items on your record. They also seek information relating to the ability to pay a debt through public databases at all levels of government, such as bankruptcies, tax liens, and small claims judgments.
You, the Borrower

When you borrow a loan, the lender sends all application information to the credit bureaus, including demographic information such as their work and address. While demographic information does not hurt your credit score, lenders do not take this into account when considering your application. If, for example, change jobs or addresses all the time, they may interpret this as lack of stability.
Tip

The Fair Credit Reporting Act gives consumers the right to oppose any negative item on your credit reports if they feel the agencies listed it in error. You can write, phone or email the credit bureaus with your dispute. You may want to ask the lender to correct a mistake, even if it only needs to contact the agencies to correct an error. No matter who you talk to, always include copies of your evidence and only the dispute items you feel is wrong.