What do the credit reporting agencies call the FICO score?
• Equifax – Beacon Trans Union – Empirica Experian – Fair Isaac Score How long does negative information stay on a credit report? Federal law specifies how long negative information may remain on your credit report. Most negative information must be erased after seven years. This includes late payments, accounts that the credit grantor turned over to a collection agency and judgments filed against you in court – even if you pay the account off. Can I remove accurate negative information from my report? No one can legally remove accurate information from a credit report. Only time can erase bad credit. What information is not on a credit report? Your credit report does not contain nor collect data about race, religious preference, medical history, personal lifestyle, political preference, friends, criminal record, or any other information unrelated to credit. Will a poor credit record ruin my chances for a mortgage? Yes, poor credit records will greatly reduce your chances of obtaining
