Question

How do you evaluate a credit report? What specific problem areas did you notice in the sample credit report? What credit score would you give this person, and what suggestions would you make to help him improve his credit score?

Answer 1

1. To evaluate a credit report objectively, one must study and analyze the following information:

• Personal details of the customer
• Credit summary
• Inquiries made on the customer
• Foreclosures and repossessions
• Public records on bankruptcies.

2. The specific problems that one can notice in a sample credit report are in the areas of credit summaries, foreclosures, and bankruptcies.

3. The simple suggestions for improving a person's credit score include:

• Checking credit reports regularly
• Setting up automatic bill payments
• Drastically reducing overall debts
• Not rushing to close old accounts
• Refrain from requesting too much credit.

What is a credit report?

A credit report is a periodic summary of one's credit activities and current credit situation.

A credit report includes credit repayment history and the statuses of credit accounts.

Potential lenders and creditors use credit reports to assess whether to offer more credit and terms.

Thus, regular evaluation of a credit report ensures accurate and complete credit information.

Learn more about credit reports at https://brainly.com/question/9913263

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