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Frequently Asked Questions

What is Credit?:

Credit is an agreement between a lender, such as a bank, and a borrower, such as an individual or business. The borrower is given access to funds, goods or services with the understanding that they will pay back the lender, usually with interest. Credit can be a useful tool for making big purchases or investments, but it's important to use it responsibly and pay back your debts on time to avoid damaging your credit score.

What is Credit Repair?:

Credit repair is the process of improving a person's credit score by addressing errors on their credit report, negotiating with lenders to remove negative information, and taking steps to improve their credit habits.

What is a Credit Report?:

A credit report is a detailed record of a person's credit history. It includes information about their credit accounts, such as credit cards, loans, and mortgages, as well as information about their payment history, credit limits, and outstanding balances. Credit reports also include personal information, such as the person's name, address, and social security number. Lenders use credit reports to assess a person's creditworthiness and determine whether to approve them for loans or credit.

What is a Credit Bureau?:

A credit bureau is a company that collects and maintains information about people's credit history. They gather information from lenders, credit card companies, and other sources to create credit reports. The three major credit bureaus in the United States are Equifax, Experian, and TransUnion. Lenders and other entities use credit reports from these bureaus to evaluate a person's creditworthiness and make decisions about loans, credit cards, and other financial products.

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