Free Credit Scores – How They Are Different From Business Credit Reports

business credit report

Business credit reports are normally created by several credit agencies when individual credit-seekers report credit applications. These reports can be studied during the selection process of whether or not to give business credit to an individual. The reports often include credit balances, types of credit available, credit history, and other pertinent data. The information in the reports will affect a business’s ability to get new loans or financing and determine an individual’s creditworthiness.

Liens are listed and sometimes included in a business credit report. These liens have been listed due to default or inactivity on accounts. These are also called “bad debts.” Good debts, on the other hand, are debts that were charged-off or for collection. Bad debts will generally raise a credit score, but good debts may result in the collection of delinquent accounts.

A business credit score is determined based on the contents of the three major business credit report bureaus: TransUnion, Experian, and Equifax. When determining an individual’s fico score, these reports will also take into account the amount of outstanding debt (the amount of money that a business owes that is past due). This debt is the number one factor that is used by creditors in determining an individual’s creditworthiness.

The types of accounts that are reflected in the Business Credit Report will vary according to the different types of credit scores that are calculated. The most common types of accounts are business loans and mortgages. Consumer credit scores will typically include a small amount of information regarding delinquent or closed accounts. Business credit scores will typically include information about the current status of the business enterprise.

The majority of lenders base business credit scores on the amounts of current and paid-in accounts. These numbers are often used by financial institutions when they make lending decisions. Lenders use business credit report data to determine whether an applicant is a high-risk applicant or a low-risk applicant. High-risk borrowers have been reported to be individuals who have delinquent and/or closed accounts or who have missed payments on their accounts.

Another type of account that is often included on business credit reports is that of “revolvings.” “Rebels” are not necessarily from bankruptcies, but they are very common. Generally, when someone has declared bankruptcy, there is a good chance that they will still have some type of lien against their property. For instance, a property is declared a “principal lien,” meaning that the lender holds a lien on the title to the property even after the bankruptcy case has been dismissed. In addition to this, some counties and states allow for the redemption of the property after the bankruptcy case is over. All states and counties allow for the redemption of school district bonds, county bonds, toll roads, and county tax liens.

In addition to the items previously mentioned, a business credit report will include the social security number, birth date, full name, address, employer, job history, current residence, employer’s phone number, and estimated annual salary. A consumer’s creditworthiness is determined based upon the information contained in the business credit reports. It is important to remember that free credit scores are not available from all reporting agencies. Therefore, consumers should shop around for the best credit report possible.

When consumers use online services for obtaining their business credit reports, it is important to check to make sure that the information on the report is correct. Many individuals make the mistake of trying to enter in incorrect information, which could potentially cause a credit application to be denied. Instead of using online services, consumers should visit a local office where they can receive a personal credit report. This will give them a better idea of their personal credit scores.