Factual Data

March 19, 2023

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Factual Data is a consumer credit reporting agency that plays an integral role in the credit scores of millions of individuals – and it's vital that they understand how this agency works, as well as what types of inquiries may appear on their credit report. Knowing one's rights when dealing with these agencies can be instrumental in avoiding errors and taking control of your credit health. Taking the steps necessary to better comprehend your credit status is essential for maintaining good scores and achieving long-term financial success.

Who is Factual Data and What Do They Do?

Founded in 1948 and headquartered in Ohio, Factual Data is a consumer credit reporting agency that provides credit information and services to mortgage lenders, banks, property managers, and other financial institutions. This company collects data from various sources – including credit bureaus, public records, and other third-party depositors – to create comprehensive reports for their clients containing critical details such as credit history, payment history, employment history, as well as other pertinent information. 

Furthermore, Factual Data also offers verification services for employment income and personal information. As regulated by the FCRA (Fair Credit Reporting Act), the company is able to guarantee the accuracy of the info they collect and report while respecting the privacy of their customers.

Factual Data Hard Inquiries

Hard inquiries can be intimidating, and the impact they have on your credit score can be daunting. A Factual Data hard inquiry on your report shows that you may have recently taken up additional debt – though it is worth noting that one inquiry usually has a minimal effect; multiple inquiries are usually grouped together and only count as one.

If you'd like to get rid of any Factual Data hard inquiries from your credit report, there are a few steps you can take. You could contact Factual Data directly and request for removal; dispute the inquiry with the credit bureaus if there is evidence of it having been done without consent or being inaccurate; and lastly, enlist the help of a reputable credit repair company such as Credit Glory for assistance with removing negative items from your reports.

Factual Data in Collections

Consumers may come across Factual Data Collections accounts on their credit report. This means that Factual Data is acting as a debt collector on behalf of another creditor, often because the consumer has an outstanding debt with a lender or creditor that has been sold to them.

Credit Glory can help consumers dispute and remove these collections accounts from their credit report. Their specialists will work with the credit bureaus and Factual Data to verify the accuracy of the collections account and make sure it is reported properly. If there are inaccuracies or errors in the reporting, Credit Glory's specialists can take action to have it removed or corrected. It's important for consumers to remember that they have rights under the FDCPA which protect them from any unlawful debt collection attempts.

Common Credit Reporting Errors

Credit report errors are a common problem that can hurt credit scores. Personal information such as incorrect names or addresses may be inaccurately reported on reports involving Factual Data, as may outdated account information for accounts that have been closed or paid off. To protect credit scores and ensure accuracy, consumers should review their credit reports regularly and dispute any errors they find. Credit Glory's credit repair specialists can help consumers identify and correct any mistakes on their credit report quickly and effectively.

Factual Data and Mortgages

Factual Data plays an important role in the mortgage application process, supplying lenders with merged credit reports from all three major credit bureaus. These reports are used to determine a borrower's creditworthiness and ability to repay the mortgage, and can affect mortgage approval and interest rates. To ensure the most accurate information is being used when applying for a mortgage, consumers should take the time to review their credit reports from all three bureaus and dispute any errors they find. Working with Credit Glory's credit repair specialists can help improve credit scores and increase the chances of being approved for a mortgage with favorable terms.

How to Improve Your Credit Score with Credit Glory

Credit Glory offers comprehensive credit repair services specifically designed to help improve credit scores. Their experts can dispute errors on credit reports, including Factual Data hard inquiries and collections accounts, and will work with credit bureaus and creditors on the consumer's behalf. Additionally, expert advice is available to assist consumers in using and managing credit responsibly, helping them take control of their financial future. With Credit Glory's assistance, individuals can restore their credit score and start working towards a brighter financial future.

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