Major Credit Agencies

New York business man sues a credit bureau alleging that they mistakenly said he had no past because the company's system refused to handle his first name - God. In fact, he says that an Equifax support engineer even proposed that he changed his name to solve the problem.

According to Mr. Gazarov, he has a high credit standing with the other two agencies, but nevertheless he could not buy a vehicle last year due to the Equifax valuation.

Chinese-punished large rating agencies

Dagong Global Credit Ratings, one of the country's biggest credit agencies, has been fined by the China Stock Exchange and a People's Bank of China (PBOC) regulatory agency. Dagong, one of China's biggest credit ratings agencies, would be excluded from running new security ratings for a year and would not be permitted to substitute top managers during the term, the China Securities Regulatory Commission (CSRC) said Friday.

That prohibition came after the National Association of Financial Markets Institutional Investors (NAFMII), an offical industrial group operating under PBOC, agreed to hold Dagong's leveraged finance activities for non-financial firms on hold for one year. "Credit rating agencies that provide advisory support to firms that seek credit rating seriously deviate from the principles of independency and are banned by the rules of the inter-bank market," NAFMII said in the declaration.

Dagong also said that it provides consulting and rating support to businesses for which it also provides credit rating work. This reflected Beijing's increasing concern about credit risk at a period when the world's biggest secondary sector was slowing down.

The Elite Choice Credit - Homepage

What kind of montly invoices influence your credit rating? Here he is, the truths about your credit rating: In a recent Trans Union poll, customers were asked about some joint invoices and whether they were or were not registered on a regular basis with the major credit agencies. In general, things like rental and electricity bill fees are not registered with credit bureaux, so you don't get "good credit" for making...g these payment on schedule.

Yet, if one of those invoices is past due, it might end up damaging your credit if the firm you are indebted to send the invoice to a debt-colder. When you thought that timely payment of your rental or electricity bill would benefit your credit rating, you are not alone: 48% of those who participated in TransUnion Interactive's on-line poll said they thought that rental payment was routinely registered with creditors.

There was even more disarray with other bills: Fifty-three percent thought that wire and web payment are regular reports, 54 percent thought that their pension payment is regular reports, and 52 percent thought that credit bureaux have records of their mobile payment. Simultaneously, if you do not settle these invoices, your creditworthiness may be at risk.

Collections will have a detrimental effect on your credit rating, and even after you have paid the bill, your credit will still be suffering. Loss will be short-lived if the collections are a runaway on your credit reports, but having several debtors in collections will really harm your scores, and timely payment for mobile bills will not directly enhance your credit rating.

Trans Union figures are predicated on a poll of 1,001 US citizens aged 18-64 who are renting their present housing units. Although the interviewees are all tenants, it is striking that only 29% knew that mortgages are routinely registered with credit agencies and thus have a significant influence on creditworthiness.

Timely payment of the rental cannot be your way to a high credit rating (although it is a datapoint that the credit rating sector regards as a possible measure of risk), but it is still an important issue, so avoiding belated charges and handling collection agencies is a key issue. When you are looking to enhance your creditworthiness, there are many policies to consider, and it is a good suggestion to keep tracking your progression by getting two of your free credit ratings on Credit.com.