Glossary

The most up to date payment on an account which the creditor reports.

Debt collection activities of debt that has been written off. The writing usually happens at charge off.

Term for a lien that has been satisfied in full.

The period of a loan when a borrow is required to make payments. During this period, a borrower must pay down the loan and cannot

A unique report identification number connected to each credit report.

The date on which a lender begins reporting an account to Experian as shown on a credit report.

When a credit takes possession of property previously pledged as collateral. This process takes place when a borrower has fallen significantly behind in making payments.

If a consumer believes there is inaccuracies on his or her credit report, sources of credit can be questioned to verify accuracy. Inaccuracies will be

A request of a consumer’s credit report. Information on the report may include past credit granted or credit inquiries. According to the Fair Credit Reporting