Having a good credit standing is significant especially in times when additional credit and lending incidents are necessary. Although an individual can vocally claim about his credit history, organizations will require proof, and it can only be provided with the credit report and records of the individual. But, in order for the organization to legally go through and view confidential credit reports, the individual should authorize the organization by filling out a credit report authorization form.

Credit Report Authorization Form Importance

The purpose of a credit report authorization form is to document the details of the person whose credit information needs to be checked and verified. In addition, the form is also used for protecting the organization who is checking the report from any lawsuit as they acquire personal, confidential, and private information of the credit account holder. Furthermore, the person who will be verified will have to disclose specific types of information in the form that organization can use for the process of obtaining his report, as well as affix his signature in the form to prompt the credit report provider that he agreed to have his credit report be shared to the organization or another party.

Credit Report Authorization Form Sample

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Basic Credit Report Authorization Form

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Borrower Credit Report Authorization Form

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Types of Credit Report Authorization Forms

Annual Credit Report Authorization Forms – There are three sections to be filled out by the user of this type of form. In the first section, the user will need to state his complete social security number along with his date of birth, full name, and current mailing address. The second section, on the other hand, is solely intended for the previous mailing address of the user. The reason for both addresses to be separated in two sections is to organize and allow the credit reporting company to focus on the current address unless there is a need to use the previous address of the user to find and create his detailed records. Additionally, the third section is for indicating the name of the company from whom the report will be requested.

Annual Credit Report Request Form

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Credit Report Authorization and Privacy Disclosure Form – This form may be used by more than one applicant, specifically married applicants who have a joint credit account. Unlike the aforementioned annual credit report authorization form, this can be used to authorize a credit reporting company to distribute and provide the applicant’s credit report to an agency and three sureties. The information which will be collected in the form would be the name and address of the receiving agency, the names of the sureties, and the basic details of the applicant who is requesting for his credit report to be released and be disclosed.

Credit Report Authorization and Privacy Disclosure Form

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Credit Report Credit Card Charge Authorization Form – This type of authorization form is different since it is not for authorizing anyone to distribute or release a report, but it is to authorize an organization to bill the report procedure fees to the credit card account of the requestor. In the three sections of the form, the credit card holder or the requestor will be able to disclose his billing address, credit card information, and his signature. Furthermore, the form can also be used for billing appraisal reports.

Credit Report Credit Card Charge Authorization Form

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Non-Borrower Consumer Credit Report Authorization Form – Individuals who will be applying for housing assistance or loan from any organization and are providing for the finances of his household with other people living with him must have this form completed by his co-payer who are non-borrowers or non-applicants of the assistance program. The form will collect the name, social security number, and signature of the co-payer who is also an occupant of the applicant’s property. It will also document the understanding of the co-payer regarding the credit reporting procedure and his authorization for it to be conducted and be fulfilled for the purpose of the assistance and housing loan application.

Non-Borrower Consumer Credit Report Authorization Form

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Essential Contents of Credit Report Authorization Forms

Although there are different types of credit report authorization forms, organizations who will be providing the forms to their requestors or users should ensure that the form contains all the relevant details and will collect the important data to effectively verify and acquire the needed credit reports. Below are some of the contents which should always be placed and be incorporated in each type of credit report authorization form:

The name of the requestor or the user of the form

There can be other types of information to identify the user, however, the name is the most important to state in the form. It is significant that the name of the user is complete and is the actual name that he uses in his records in the credit reporting company. In addition, the user’s former names should also be documented in the form especially if the user had changed his name due to his new marital or adoption status.

The account and social security number of the user

This is another piece of information which allows the credit reporting company to locate and identify the requestor. Furthermore, this part of the form can also be accompanied by other identification numbers such as the user’s or the requestor’s insurance number and membership identification number.

The names of the parties to whom the reports will be sent

Knowing the parties who are requiring the report requestor or form user to disclose his credit history and information is essential to ensure that the reports will be distributed and will only be handed to the right organizations. In addition, the user of the form should also state indications and instructions regarding the specific details to be given to each party if there are parts of his records which must be retained and not be included in the disclosure.

Credit Report Authorization and Release Form

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Credit Report Authorization Form in DOC

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Credit Report Background Check Authorization Form

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Simple Credit Report Authorization Form

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And lastly, a credit report authorization form should always have a signature block with an area for the date when the signature of the user was affixed in the form. This is to make sure that the form was filled out recently, and not a false document. Moreover, the signature of the user will also be used to validate the contents and request of the form by means of a verification procedure to determine whether or not the signature in the form is the actual signature of the person whose identity is stated in the form.

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