The information in your credit report determines in large part what kind of credit, from car loans to credit cards to mortgages, you’ll be able to get. Federal law gives you the right to know what consumer credit information is collected on you and you need to exercise that right.

A home Foreclosure will stay on your credit report for seven years. This can make it difficult for you to purchase big-ticket items such as a car or a house if you cannot afford to pay cash. However, if your foreclosure was unjustly executed, or the institution that provided your mortgage is not fairly reporting your credit, there are steps you can take to have the foreclosure removed early.

Whenever a creditor views your credit history, it will appear as an inquiry on your credit report. Too many inquiries can lower your Credit Score, which may cause your credit application to be denied.

A credit bureau gathers information about how consumers use credit. In other words, they collect information from as many consumer financial transactions or inquiries as they can. They then sell access to that combined information to anyone who has a legally-recognized reason (permissible purpose).

Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.