HOW DO YOU READ A CREDIT REPORT?
How do you tell if its a debt that needs paid or one already paid? My report says high balance, paid, limit, nan, balance. All it is, is confusing me.
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How do you tell if its a debt that needs paid or one already paid? My report says high balance, paid, limit, nan, balance. All it is, is confusing me.
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Answers & Comments
You don't. A credit report does not have the information that you want. A credit report tells you only what the situation was at some time in the past, whenever it was reported to the credit bureau, which could be two months ago.
To know what the situation is now, you have to ask the creditor listed on the report.
It tells when you are late. If you are never late, it wont show you were.
The example you show gives charge offs & 5 payments 120 days past due. Most people with good credit have zero or only 1 payment 30 days past due ever.
Say your were late 1 time 2 years ago it might say 30 (6/12). To show you were once 30 days late in june of 2012.
not complicated once you get used to it.
Your score is easier & its free. Credit Karma is great & free.
See if this site helps: http://www.accuratecredit.com/html/creditreporttut...
It gives explanations of the various sections of a credit report but it isn't the easiest or clearest tutorial.