How to Read an Equifax Credit Report - Oracle

How to Read an Equifax Credit Report

June 2014

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Table of Contents

Introduction ..................................................................................................................... 1 About this document......................................................................................................... 1 Credit Report Sections ...................................................................................................... 2

Identification Information Section .................................................................................................................. 2 Identity Scan Warning Section ....................................................................................................................... 3 Report Summary Section .............................................................................................................................. 3 Public Records Section.................................................................................................................................. 5

Bankruptcy ............................................................................................................................................. 5 Judgment ............................................................................................................................................... 6 Tax Lien.................................................................................................................................................. 7 Collection Information Section....................................................................................................................... 8 Trades Section ............................................................................................................................................ 9 Inquiries Section........................................................................................................................................ 11 Messages Section ...................................................................................................................................... 11 Consumer Statement and Consumer Assistance Contact Sections ...................................................................... 11

Appendix A: Sample of Equifax Credit Report.................................................................... 12 Appendix B: Codes and Description .................................................................................. 15

ECOA Codes............................................................................................................................................. 15 Portfolio Types.......................................................................................................................................... 15 Rate/Status Codes used in Payment History ................................................................................................... 16

How to Read an Equifax Credit Report FADV0037

June 2014

Introduction

An Equifax Credit Report provides information about the financial history of an individual. This report helps you to predict possible risk stemming from financial problems that can lead to failure in maintaining property or cause distractions, which may lead to the submission of fictitious claims or inflated legitimate claim amounts.

Note: The sections in this report appear based on the subject's financial history. For example, if a subject has no Public Records/Legal Items on record, that section will not appear in the report.

About this document

This document explains how to read and interpret the information present in an Equifax Credit Report. This document includes screenshots from a sample report and contains fictitious information.

Copyright ? 2014 First Advantage. All rights reserved.

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How to Read an Equifax Credit Report FADV0037

Credit Report Sections

Identification Information Section

June 2014

This section displays information about the subject including name, SSN, and addresses. 1) File Date ? The date when the records were obtained through Equifax 2) FILE SINCE ? The date the file was established 3) File Activity Date ? The date of most recent activity on file 4) Applicant Provided SSN ? Social Security Number provided by the subject 5) SSN Match ? Indicates if the SSN provided by the subject matches with the SSN present in the Equifax database 6) Inquiry SSN Issued Date ? The date when the SSN was issued 7) Inquiry SSN Issued State ? The state where the SSN was issued 8) SUBJECT NAME ? Name of the subject 9) FORMER NAMES ? Other names of the subject 10) CURRENT ADDRESS ? Current address of the subject 11) First Reported ? Year and month when the subject started residing at this address 12) Last Reported ? The date when the subject stopped residing at this address 13) FORMER ADDRESS(ES) ? Former addresses of the subject

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How to Read an Equifax Credit Report FADV0037

Identity Scan Warning Section

This section displays warnings related to the subject's identity.

Report Summary Section

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This section displays payment history.

1) PUBLIC RECORDS ? The total number of public records present on file

2) COLLECTIONS ? The total number of collection agency accounts present on file

3) ACCTS ? The total number of trade line accounts present on file 4) HIGH CREDIT RANGE ? Highest credit range present on file

5) MOP RATES ? Manner of Payment Rates. This may include the below fields:

a. Too new to rate; Approved but not used

b. Pays account as agreed

c. Not more than two payments past due

d. Not more than three payments past due

e. Not more than four payments past due

f. At least 120 days or more than four payments past due

g. Collection account

h. Included in Chapter 13

i. Repossession

j. Charge-off

k. Other

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How to Read an Equifax Credit Report FADV0037

June 2014

6) RATE HIST ? This provides a summary of historical delinquencies. This may also include additional fields listed in MOP Rates. a. Not more than two payments past due b. Not more than three payments past due c. Not more than four payments past due d. At least 120 days or more than four payments past due e. Collection account f. Repossession g. Charge-off

Copyright ? 2014 First Advantage. All rights reserved.

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How to Read an Equifax Credit Report FADV0037

June 2014

Public Records Section

This section displays details about the subject's public records information on file with Equifax. This may include Bankruptcy, Judgment, or Tax Lien.

Bankruptcy

This section displays the subject's Bankruptcy details. 1) This indicates the type of public record a. Bankruptcy b. Judgment c. Tax Lien 2) COURT CUST NUM ? The customer number assigned by the court 3) FILING DATE ? The date when the bankruptcy was filed or reported 4) TYPE ? Type of filing (Individual or Business) 5) HOW FILED ? How the bankruptcy was filed (individual, joint, or spouse) 6) CASE NUMBER ? Number assigned to the case 7) DISP DATE ? The date of disposition 8) CURRENT INTENT / DISP ? Type of bankruptcy and description 9) PRIOR INTENT ? Prior type of bankruptcy

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