Information appears on a credit report listed by personal data, by accounts, by public records and by inquiries. A furnisher, usually a creditor or debt buyer, reports information to the credit bureau as to the amount of debt, the payment history, and whether the person owing debt is solely responsible as an “Individual” owner of the account, or as a “Joint” or “Co-obligor” with another person, or under a third category as an “Authorized User”. Each joint or co-obligor is equally responsible for payment of the entire debt. An authorized user may not have contractual obligation to pay the account.
How do you tell the difference? You probably cannot, unless you know the code. Major credit bureaus use a METRO 2 format that looks like this:
1=Individual, a contractually responsible person;
2=Joint or Co-obligor, contractually liable with another person;
3=Authorized User, not contractually liable.
Personal data fields are populated with information mined from various sources and include present and past name, address and employer information.
Public record information includes Court judgments and liens.
Inquiries show who has requested a full or partial look at your credit report.
A free annual credit report is available for your inspection by mail at www.annualcreditreport.com/cra/order?mail. Be sure to click on the mail button and print an application to send in rather than use the online version.
