CONTENTS OF A TYPICAL CREDIT REPORT
A typical credit report can either be for an individual or a corporate organization, and the contents include, but are not limited to the following:
- Demographic Details: This includes the full name, date of birth, gender and the marital status of the individual. It also includes the father and mother’s names, telephone number, email address, and nationality.
- Summary of Liabilities: This section gives a breakdown of the debt information or loan facilities of the individual. It includes the number of loans the person has taken, the approved amounts, and how much the person has left to pay.
- Inquiries: This section lists the number of times the individual’s report has been checked by potential lenders. It also shows how many times the borrower has checked their own credit report.
For Corporate Organizations
- Firmographic Details: This is simply the details of the Company/Firm. It includes the name of the company, number of employers, and the previous year’s financial turnover. It also includes the company’s website address, telephone number, email, and the total value of their assets.
- Occupation Type/Identification Details: The Company’s registration details are listed in this segment, as well as what type of business they do.
- Address Details: This includes the physical contact address of the company.
- Inquiries: This section lists all the credit checks that have been made by anyone, as regards the company in question. It also shows if the company has been checking their own credit report.
- Summary of Liabilities: This is a summary of the loan facility details of the company. It shows the institutions where they have borrowed money from, the number of loans, approved amount, and the outstanding balance on their loans.
- Details of Liabilities: It goes further from the summary, to show the breakdown of each loan, by listing the full details including the lending institution(s), the day the loan was given, as well as the collateral that the company used in securing the loan. It also shows the type of interest to be paid on the loan, and the interest rate