Understanding the Consumer Credit Report

A consumer credit report is a limited record of your personal information as it relates to your consumer credit activities. It is primarily used by lenders and creditors to determine your credit reputation or credit worthiness when deciding to extend you credit or grant you a loan. Although numerous smaller credit reporting agencies (CRAs) exist, there are only three major credit reporting agencies (CRAs) that are widely accepted; TransUnion, Equifax, and Experian. The consumer credit report is separated into a few major categories with the most common being Credit History, Public Records, Collection Accounts, Inquiries, and Personal Information.The Credit History section displays some of the most common information that you would expect to see on a consumer credit report such as real estate mortgages, credit cards, lines of credit, personal loans, and auto loans. While displaying some of the most common information that you might expect to see such as the account name and account number of each account, this section of the consumer credit report also displays the status of each account and whether it is current or past due in payment. This section of the consumer credit report goes into further detail by displaying the balance, minimum payment due, and payment history of each account.The Collection Account section of the consumer credit report displays information on accounts that have been charged off by the creditor and sent to collection agencies. The collection name and collection number should be exhibited along with the original creditor’s information. It should also exhibit the date in which the account was charged-off and sent to collection along with the dollar figure the collection agency is seeking to recover.The Public Records section of the consumer credit report is reserved for county and state court records & displays such items as foreclosures, bankruptcies, judgments, and tax liens. While numerous consumers do not have items that fall into this category, it is not uncommon for this section to be missing from the consumer credit report. Foreclosures, judgments, bankruptcies, and tax liens/civil liens are considered to be some of the most derogatory items that can be found on a consumer credit report. They have a very serious negative impact on the consumers credit score and a tremendous influence on a creditors or lenders decision to issue credit or grant a loan.The Personal Information section of the consumer credit report consists of numerous items such as your full name, current and previous addresses, any known aliases, social security number, year of birth, current & past employers. If available and available, this section will also exhibit similar information about your spouse.As some of the terms used in this article may be unfamiliar to you, I have listed numerous terms and their corresponding definition below in order to help you understand the common consumer credit report.Credit Report: A complex report containing the credit history of a consumer. A consumer’s credit report is generated by a credit reporting agency and contains information provided by the consumer’s present and past creditors to be used in determining the consumer’s credit worthiness.Credit Reporting Agency: Credit reporting agencies, often referred to as credit bureaus, are companies that collect, manage, and report information received from creditors and collection agencies regarding the individual consumer. The three largest and most commonly known credit reporting agencies are: TransUnion, Equifax, and Experian. Many consumers believe these companies to be official government entities, which is a common misconception. In fact, they are for-profit companies.Collection Account: A debt that is considered to be a loss or expense by the creditor. The creditor will attempt collecting that debt through the use of an internal collection department, outsource the account to a contracted collection agency, or sell the debt to a third party for a reduced price.Chapter 7 Bankruptcy: The most common form of consumer bankruptcy, Chapter 7 Bankruptcy typically releases a debtor from any and all liability for the credit accounts included in a bankruptcy. In exchange, the debtor must usually forfeit some personal property. A Chapter 7 bankruptcy remains on the debtors consumer credit report for 10 years.Chapter 11 Bankruptcy: Although Chapter 11 Bankruptcy is normally used for businesses, it can be used by consumers in specific rare cases involving extremely large debt. However, Chapter 7 and Chapter 13 can be much simpler and provide better protection for most consumers.Chapter 13 Bankruptcy: Chapter 13 is a type of consumer bankruptcy under which the debtor does not forfeit personal property. Rather, the consumer agrees to a three- to five-year wage earner plan to repay all or part of their debt. A Discharged Chapter 13 bankruptcy remains on a consumer credit report for 7 years from the date filed. An Open or Dismissed Chapter 13 bankruptcy remains on a consumer credit report for 10 years from the date filed.Foreclosure: The legal process by which a creditor may sell mortgaged property to recover a defaulted mortgage.Judgment: A determination by a court of law that, in the case of credit, may require a person to satisfy or pay a debt.Tax Lien: A charge upon real or personal property for the satisfaction of debts related to taxes.Civil Lien: A charge upon real or personal property for the satisfaction of some debt or duty ordinarily arising by operation of law.Inquiry: An instance in which all or part of your credit file is accessed by a company or individual. Inquiries stay on your consumer credit report for not more than two years.

Consumer Product Reviews – Review Sites

When looking for a new product online, consumer product reviews help. Product review sites are plentiful and so are writers. Consumers usually search around to read other people’s opinions and experiences about the product. A consumer product review is anything that describes the product or service focusing on the features and other beneficial characteristics of the product depending on the needs of the target consumer. Consumer product reviews help people obtain the right facts or information regarding the product or services presented according to target consumers’ requirements.The internet is a good platform for selling your product effectively or making eye-catching consumer product reviews or articles. This practically starts by generating good reviews from varied websites. This would mean giving more time and effort doing research about the product as well as beyond what is needed to produce very high quality review. The process may seem easy but it actually is difficult if you do not have any search engine optimization knowledge and writing skills. Below are some tips to write a consumer product review:• You must possess good copy writing skills
• Organize your reviews well
• Give straightforward information
• Be imaginative or add some light comments to your writing
• Lastly, check on integrity of your review by analyzing facts.Being creative in expressing thoughts and having good grammatical skills are the most essential characteristics of a writer who is out to writing an impressive attention catching consumer product review. In consumer reviews, the author needs to show authority and knowledge about the topic or the product or service being reviewed. This means that a writer trying to create a very effective consumer review need to spend precious time understanding the whole thing about consumer reviews and the product as well. Who would want to read something that is vague and shallow in presenting the thoughts and flow of ideas? With all the grammatical errors and misspelled vocabulary, it is a reader’s nightmare. Next, it is shrewd to put in order the content of your review well. Make sure that you understand the expectations of your readers’ and what they want to read. It would be nice to write articles or content that is very reader specific. It is the coherence and consistency of the idea that actually counts for the readers.Always keep in mind that the reviews you are writing are not for you, but to assist people visiting your review page looking out for more information about the product before buying. So, make sure when you use pen and paper to write reviews in such a way that you envision yourself in the minds and shoes of your reader. You need to be thoughtful, creative, flexible, and tolerant. You need to establish credibility and authority in your selected niche by writing straightforward constructive critical analysis based on facts about the product you are trying to review.Today, marketing a product online is as easy as just one click away due to the existence of consumer product review sites. This is one good way to promote and advertise your product or services anywhere. Advertising your product or services through consumer product reviews may have a positive effect on people visiting your e-commerce. However, this largely depends on how you wrote your content. Sometimes, the contents would automatically reflect selling and advertising schemes. Visitors reading the content would know by common sense that they are trying to sell the product. However, if the consumer product review sounds like a testimonial or the feedback comes from a friend, then you would more likely buy the product. The idea behind consumer product review sites is to give customer an impartial and honest view about the product or service that they are interested in. The most common mistake among writers is when they try reviewing each and every single product they can find before launching the site. If you have a glance or reviewed a few products then there’s no reason why you can’t unleash your site and start driving potential traffic and get listed among the top sites in SEO. It is critical that you know what works for your target market to keep things going great as you would want them.Most websites that are writing consumer product reviews are often associated with e-stores and other affiliate products from fashion stores or e-commerce sites. It would be easier to make an informed decision based on your readings and buy the product right from the website itself. Sometimes, looking for a specific product on a particular website could be a time consuming confusing task. We are bombarded with series of prices, various product designs, and different models and colors. These things could make a visitor confused and undecided unless they could read a consumer product review that will tell them transparently about the benefits and special features of the product that would help them make an informed decision. A blog could powerfully support your marketing scheme on your consumer product review site. After you have created a consumer review, you can post it on your website or blog. This allows search engines to index your consumer review and your website. Oftentimes, webmasters offer RSS feed on their websites so readers can read the reviews from their email inboxes. RSS feed will give you more internet exposure. If a reader likes your content and subscribe to your RSS feed or much better, post the content to a personal website, then you gather more backlinks and traffic. This exposure will help you appear at the SEO high page rankings.The process of writing consumer product reviews is like exploring the huge information on the internet and optimizing your website by selecting a particular interesting product for a review. Search engine optimized consumer product reviews create a center of attention for the network traffic. A good consumer review will bring you good traffic if you optimized individual posts page tags and page headers. Product review with consumer testimonial is a very promising way to advertise your product because search engine would love honest transparent reviews and consumers would love to read more facts about the product from the users themselves. Writing consumer product reviews is one of the best approaches in search engine optimization. The technique is just to write what you see, what you experienced, and how you perceive the product. Readers would love transparent outspoken consumer reviews. You get to leverage from consumer reviews in promoting your product and get ahead with global competition for branding and recognition of your product or services.The context of bringing facts together requires detailed research about the product and reading what other writers say about the product. Although this requires hard work, you would be able to present those facts in consumer review writing. Genuine and straightforward consumer product reviews are results of hard work and comprehensive research. Product reviews work to assist customers to find trustworthy information and at the same time help e-entrepreneurs generate a sale from their product reviews. The creative writer should understand what particular feature to emphasize when writing product reviews. This means knowing what the consumers are really looking to hear or listen from consumer reviews.