In today’s fast growing commercial world, credit report and credit rating laws and acts have become part and parcel of the diverse financial activities. In fact, credit report and credit rating laws and acts are required to carry out the process of credit rating in a systematic, legitimate manner. style=’margin-bottom:5′>Credit report: A credit report or credit history is basically information about the past borrowings and repayment records of an individual or a corporation. It also includes information about the untimely payment details of the concerned person or commercial organization, as well as its financial liquidations, if any. The credit reports are awarded credit scores, on the basis of their credit ratings. The higher these credit scores are, the more lucrative are the companies to the foreign investors. style=’margin-bottom:5′>DDetermination of the credit history depends on factors like:
Payment details of the clients
Financial steadiness and responsibilities
Credit reports are prepared by organizations called credit bureaus and credit rating agencies.