There are many credit bureaus, which work out credit reports of consumers. The most reputed and well known ones are Equifax, Trans Union and Experian. Experian credit bureau was previously known as TRW credit bureau. A TRW credit report was an important tool to ascertain the financial steadfastness of an individual.
A TRW credit report, which is now known by the name Experian credit report, had all the essential features of a credit report. A credit report furnishes details of the borrower’s creditableness.The TRW credit report was bought by the lenders to judge the repayment capacity of individuals availing credit from different financial institutions.
Banks, retailers, landlords, employers were among others, who availed of credit reports to know about the repayment habits of consumers.
Rating a TRW credit report:
A credit report is rated for finding out the rating score of a consumer. The rating score obtained as a numerical value decided, whether a consumer has a bad credit history or has a healthy re payment habit.
In other words, the credit report shows trends in the consumer’s credit account. Any new development in the credit account is recorded promptly. The TRW credit reports were up graded on a regular basis.
Reviewing and repairing TRW credit reports:
TRW credit reports were reviewed for any errors. The credit reports were also reviewed for keeping a track of the credit account of the consumer. Reviewing ones credit report is of utmost importance as it can save consumers from identity theft and from prolonging a bad credit history. Repairing of the TRW credit report was done to edit incorrect information. Credit report repair is also carried out to improve the credit history. Repairing of credit reports were either done by a credit report repairing company or by the consumers on their own.
The laws protecting the rights of individuals helped consumers from falling in to fraudulent dealings and malpractices.