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A credit is referred to the goods and/or the services that are obtained by a customer or consumer, even when the payment has not yet been made. Hence, it will be made in the future accordingly to what the credit arrangement or loan agreement states.

An individual applying for a loan or credit will be needing to complete the form for credit application. In addition to this, there will also be some documents and/or requirements that are needed to be submitted. These forms are subject to undergo few loan application reviews by the management to see if applicants are qualified for such loan or credit. Once the application is approved, every loan or credit are documented in the individual’s credit report for references. Yet, there are such circumstances wherein a customer or a consumer experience bad debts due to the following few reasons:

  • Was a victim of identity theft or fraudulence
  • Was admitted in a hospital and had no insurance/s
  • Had suffered bankruptcy
  • Was laid off or dismissed from employment
  • Other personal issues, such as inadequacy of money management

In such cases similar to either of the following above, the customer and consumer should undertake action immediately. They should be able to inform the credit bureau, collection agency, or organization. Thus, they should know how they are to handle or what to do with their bad debts. You may also see sample incident report forms

Application for Personal Credit Report Form

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Annual Credit Report Request Form

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What to Do with Bad Debts?

The best option for such circumstances such as bad debts is to pay the amount that is owed to the credit bureau or the organization. It is important that an exact target date for payment of bad and old debts is set. Regardless of how many years it will take to pay fully for the debts. There should also be a written simple statement that explains the reason/s why the individual was unable to pay these debts, especially those past due already. Nevertheless, in order to be able to pay accordingly, the individual should focus on their current situation first, such as getting a stable job and paying for their current bills. This is in order for each individual to effectively save for their payment of the bad and old debts. After all, one will not be able to pay the amount if one does not make a living. Unless, there are some sources, and the individual promises that he or she will be paying these debts soon as he or she gets a stable job.

Therefore, in order for the management to avoid such circumstances, and to ensure that each individual (whose credit or loan application is approved) is responsible enough with their payments, the application reviews include the collection of the payment history of the individual to bills and loans. Some companies or organizations would even conduct a credit check when the applicant applies for a job.

Personal Credit Report Request Form

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Credit Report Order Form

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Consumer Credit Report Request Form

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Credit Report Order Sample Form

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Credit reports can only be obtained for free once a year or for every 12 months. Unless, the person requesting for the report needs a copy for more than once within the year due to the following circumstances:

  • Is/Was a victim of fraud or identity theft
  • Own information are used against him or her

In such cases similar to the two exceptions above, the credit report companies are obligatory to inform the individual with regards to these. Thus, in requesting for credit reports, the following above are few of the sample forms that could be utilized. The completion of these forms requires the following information:

  • The personal information
    • The full name (first, middle, and last name)
    • The residential and mailing addresses
    • The date of birth
    • The email address
    • The contact number/s (home and mobile)
    • The marital status
    • The social security information
    • The driver’s license number
  • The dependents and spouse information
    • The personal information of the spouse
    • The employment information of the spouse
    • The number of dependents
    • The names and ages of each dependents
  • The employment information
  • The employment history
    • The former position
    • The previous employer company
    • The address of previous employer company
    • The contact information of past employer
    • The term of employment period

In line with these required information, there are also few documents or public records that could be used for few background checks for the individual’s identification verification. Such public records include the following:

  • Criminal records or history
  • Bankruptcy history or records
  • Employment records and references
  • Legal proceedings from the court

All these documents or public records are required for security clearance purposes. Upon the completion and submission of all these required documents, there should be an affirmation that all the information stated in each of these forms are true and accurate. Otherwise, there will be some legal actions to be done for such punishable act. The affirmation or confirmation section should include the affixed signature of the applicant in the form, together with the date signed.

Credit Report Consent Form

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Credit Report Authorization Form

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Tenant Credit Report Authorization Form

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Credit and Background Report Release Form

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These credit reports are secured by the credit reporting companies due to the fact that these contain the credit information of the individual, which is confidential. Nevertheless, the forms above are few of which are utilized to ensure that the information are released only to those who are given the authorization.

These credit report authorization forms contain a list of terms and conditions with regards to the credit application. These also indicate that some of the information may be released to other companies for few reasons. One is for employment purposes. Therefore, the individual should check their credit report to confirm that their information are correct. This is in order to avoid any complications when the individual creates a new credit or apply for a loan and pay for bills.

Credit Report Dispute Form

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Credit Report Dispute Sample Form

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There are also some inevitable circumstances wherein information in credit reports are inaccurate. In situations like these, the credit report dispute form should be filled out. These forms are in order to find an effective solution for every misunderstanding or misinterpreted information. As well as to specify the subject in dispute. Therefore the information to be provided for an effective solution are as follows:

  • the contact information of the customer or applicant
  • the specified information of what is in dispute
  • the account number of the applicant
  • the signature and date signed of the applicant to certify that information is true

In solving each issue, an investigation is conducted in order to fully understand and identify the reasons for such mistakes. In addition, there should be a reference or a document of the wrong information. Applicants may use their credit report for evidence. Here are the following possible reasons why dispute forms are utilized:

  • The credit account of the applicant is closed.
  • The credit report states that the applicant has paid late, when in fact, payments are always made early.
  • The report states that few credits or loans were not yet paid, when in fact, all are fully paid.
  • The credit account is experiencing bankruptcy.
  • The report showed or given to the applicant is not his or hers.
  • The account holder was a victim of identity theft.

These are few of the possibilities why applicants would be filing a dispute or complaint form. The submission of these forms could be made through email to the appropriate credit bureau or reporting companies. Upon submission of the form, there are also some documents that are to be provided, such as the bankruptcy record as a reference.

Credit Report Freeze Request Form

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The individual may request for their credit report to be frozen. One main reason why is to ensure the confidentiality agreement of their credit information. Freezing their credit reports hides all information from anybody else. Even they themselves will not be able to create a new credit unless they lift their frozen credit reports temporarily. And upon doing so, they will be charged for a fee—unless the applicant is a victim of fraudulence or identity theft.

Aside from freezing the account, the individual may also request for a fraud alert to be incorporated in their account. This works when the account holders request to incorporate a statement that would specify that they may be a victim of fraud. Therefore, when there are some cases wherein someone will be creating a new credit, the credit reporting company will be able to see the fraud alert. And upon seeing this, they will be calling the account holder with the given contact number for some confirmation. Yet, these fraud alerts will only last for a limited number of days. In cases such as these, applicants or account owners may request for an extension for a couple of years most especially when they are a victim of identity theft. You may also like sample credit authorization forms

Guidelines for Credit Report Forms

In utilizing each of these credit report forms, there are few things that you should take note of:

  • All necessary information should be provided to avoid any delay to process the request.
  • All documents and/or requirements should be provided or submitted.
  • The instructions in the form should be carefully observed and followed.
  • The information written in the form should be comprehensible.
  • Any falsification or wrongful acts will be subject to legal consequences depending on the circumstances.
  • It is important that you notify or report to the credit reporting company immediately when there are some mistakes or errors on your credit report. For it allows them to check these mistakes within the specific period of time
  • Be careful when it comes to giving your credit information to somebody else, because some people are scammers who steal your information.

Summing it all up, all these credit reports’ information are not permitted or provided unless the applicant is said to be qualified and has complied with all the requirements. The reason to ensure this is in order for the credit reporting company to ensure the safety of each and every account of other people, as well as their company and management. Therefore, security authorization is mandatory to double the security and safety of everyone. In addition, the company or anyone who does not abide with the restrictions and rules will be held accountable and liable for such actions.

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