Account review inquiries
The companies listed below obtained information from your consumer report for the
purpose of an account review of business transaction. These are not displayed to others
and do not affect your credit scores.Bank of Wisconsin Requested on: 3/2013457 State Street, Big City, WI 43532(^)
Terms used on credit reports can be confusing. Here are the definitions of some key terms used
on credit reports:
Term Explanation
A person permitted to use a credit card account, but who is not responsible for
Authorized user the account. The payment status of the account (positive or negative) is shown
on the credit report of both the authorized user and the account’s owner.
Payment status The history of the account including on-time payments as well as delinquencies
and other negative items.
Delinquent An account that has not been paid on time and is late. Generally delinquencies
are expressed as being 30, 60, 90, or 120 days or more delinquent.
Default An account that has been delinquent (late) for several 30 day billing cycles.
Charge off When a business decides an account is uncollectible. However, the consumer
is still responsible for the debt, and collections will likely continue on this debt.
The date an account is closed. An account can be closed by the business or
Closed date the consumer. If there is still a balance when the account is closed, the
consumer is still responsible for paying this.
Discharge When the court releases a consumer of responsibility for a debt as part of the
bankruptcy process.
Chapter 7 A legal process in which the consumer’s assets are used to pay off creditors.
bankruptcy Any eligible debts not paid through the assets are discharged. This will be in
the public records section of the credit report.