Reading your credit report and knowing it from the inside out isn't difficult, but it is necessary. It might be the most rewarding read of your financial life.

ABSOLUTE RUBBISH

A consumer can request a credit report once a week if they wish and it has absolutely no effect on a credit score. Each time a request is made by a consumer, it is a "soft" inquiry. Only "hard" inquiries affect a credit score.

I suggest that the next time that you post on this forum that you do your research and know what you are talking about instead if making an ass of yourself.

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Educating one Consumer at a time

But don't pull your credit report that often because it does affect your credit right.

Your credit report contains a wealth of information about your financial actions. If you have credit or loan accounts, those accounts, and how you pay them, are included in your credit report. It’s important to review your credit report at least once a year so you know what your creditors are saying about you.

Changing an incorrect address on a Credit Report is a very simple matter. Send Equifax copies of 2 pieces of identification such as a driver's licence, health card, etc. which shows your current address along with a covering letter and a copy of your current Credit Report and simply request that they change the incorrect address to the correct address.

#1 Personal Line of Credit ( LOC )

When your husband defaulted on the LOC in 2008-03, he was residing in the U.S. The issuer of the LOC then attempted to contact your husband to bring this LOC up to a current status. If after a period of about 6 months, the issuer is unable to negotiate this LOC to a current status, then a U.S. collection agency was assigned to collect this debtt on behalf of the issuer. Defaulted LOCs are usually kept open for about 3 years before the issuer decides to write this debt off as a bad debt. At that time, the issuer reports that information to the credit bureau. That is why the Credit Report shows Date Reported as 2011-02.

#2 Note Loan

This loan was opened in 2007-04 when at that time your husband resided in the U.S. This is not a U.S. loan because U.S. debts are not reported on a Canadian Credit Report. And I doubt very much that your husband came back to Canada in 2007 to obtain a loan for under $2,000. That would make no sense. In all likelihood, this loan belongs to someone else and is reporting incorrectly on your husband's Credit Report.

You can contact the issuer of this loan and request information as to why this loan appears on your husband's Credit Report. In addition, contact Equifax and tell them that this loan does not belong to your husband and request its removal from the Credit Report.

If you are unsuccessful in having this loan removed by Equifax, report back on this forum and I will outline the next step to take.

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Educating one Consumer at a time

hello all

i am a newbie here. i am trying to understand my husband's credit report.

quick history i am in app. for perm. resident and my husband is a Canadian citizen.

he moved to the states in 2000 we married in 2003. we fell on hard times in the states in starting in 2006 and began to have problems with our payments in 2007. fast forward we move to NS in 2010 after having a child and wanting family around. we are getting back on our feet financially. husband has a a good job and we would like to rebuild his credit. after getting his equifax report i feel a like some things maybe inaccurate.

please have a look and let me know if anyone has suggestions or see's something fishy. i will basically list what is on the report sans sensative information :)

* credit score 509

*current address listing is wrong address is listed as living in ON we live in NS

*current place of work correct

* two OPEN? accounts on report.

# 1

High Credit/Credit Limit: 000000030000
Payment Amount: $9,999.00
Association to Account: Individual Balance: $27,406.00
Type of Account: Revolving Past Due: $27,406.00
Date Opened: 1997-03 Date of Last Activity: 2008-03
Status: Bad debt, collection account or unable to locate Date Reported 2011-02 ( WHAT DOES THIS MEAN)
Months Reviewed:

Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: At least 120 days past due ( 2008-02 ) At least 120 days past due ( 2008-01 ) At least 120 days past due ( 2007-12 )
Comments: Written-off
Personal line of credit

#2
High Credit/Credit Limit:1824
Payment Amount: $169.00
Association to Account: Individual Balance: $1,824.00
Type of Account: Installment Past Due: $1,824.00
Date Opened: 2007-04 Date of Last Activity: 2008-01
Status: Bad debt, collection account Date Reported:2010-12
Months Reviewed:

Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: At least 120 days past due ( 2007-12 ) At least 120 days past due ( 2007-11 ) At least 120 days past due ( 2007-10 )
Comments: Written-off
Note loan

#Husband has no memory of why or how he got the second loan#

Report shows:

No Banking history on file

No Public Record information on file
No Collections information on file

We belive the account was put into collection with a US firm in 2007 (very agressive, inappropeiate language and treats , calling at work place when asked not to ect. in which we had to take harasment action against.

So if i have my time line correct 1st delinquent payment would have been in 2007.

so why does report list date of last activity 2008

and date reported as 2011??

please help as we don't want to kick the nest , now that we only have maybe less then 2 years before it no longer shows on report.

should he instead be focusing on rebuilding his bad credit. With secured credit cards and such.

Thank you to all who have taken your valuable time to read this novel!

Any advice or comment is greatly appreciated.