Credit Report



A report by a credit bureau of an individual's available credit and payment history, including on-time payments, late payments, and the number of times a loan payment was missed.  Judgment liens to collect a debt, bankruptcy petitions, and tax liens may also be included.  Credit reports retain adverse credit information for seven years and bankruptcy petitions for ten years.  Federal law requires credit-reporting agencies to allow consumers to inspect their credit report and submit disagreements in writing.  Credit reports are usually requested by lenders, employers, and landlords, or the individual named in the report.