Californian Credit Reporting Agencies were established under the Consumer Credit Reporting Agencies Act, Civil Code Sections 1785.1-1785.36. Chapter 1 of this Act contains general provisions section, chapter 2 consists of obligations of consumer credit reporting agencies from 1785.10-1785.22, the third chapter comprises of acts on the requirements on users of consumer credit reports from sections 1785.20-1785.22, there is another section of this third chapter that contains information on the obligations of furnishers of credit information from sections 1785.25-1785.26, finally chapter 4 lays down the Acts on the Remedies from sections 1785.30-1785.36.
Credit Reporting Companies
Experian is one of the leading credit reporting companies of California. It provides a comprehensive credit report for the resident of California. TransUnion is another firm preparing and maintaining credit reports the Californians. They also provide the credit score of the credit seeker. They also provide an online facility to their customers.
One can order for a free credit report online to keep a track of his/her credits.One can get a tri-merge credit report in California. It is a combination of the three credit reports.
This is very useful wile mortgaging a property and receiving a loan on its behalf. These credit reports are updated by the agencies each time they are checked by them. If there are lots of credit checks then the report is a bad report. It casts a negative impact on the report.
The credit scores one receives ranges between 375-900. The best score one can look for is 700 or more to receive the best deals further.
Equifax apart from the above-mentioned companies also provides credit report. It provides a comprehensive report of the credit history. This co0mpany is situated in Atlanta and happens to be a credible company. All these three reporting companies provide reports of credit history but sometimes may contain incorrect information, which could also be rectified if demanded by the customers.