Plain English
What the words on your report mean
Credit reports are written in a language nobody speaks. These are the terms that come up most, said the way a person would say them, including the two that are warning signs rather than words.
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- Consumer reporting agencyalso: CRA, bureau
- A credit bureau. The company that holds the file about you and sells it to lenders.
- Furnisher
- Whoever reported the information to the bureau: your bank, a card issuer, a collection agency.
- Tradeline
- One account on your report. A card, a loan, a collection. Each one is disputed separately.
- Reinvestigationalso: dispute investigation
- What the bureau has to do when you dispute something. They have 30 days from receiving it, or 45 if you send more during the period.
- Verified
- The bureau checked and says the item is right. It is a real outcome, not a brush-off, though sometimes it is a brush-off.
- Method of verificationalso: MOV
- How they checked. You can ask, and they have 15 days to describe the procedure and name who they contacted.
- Statement of dispute
- Your own words, added to the file, when you still disagree. Usually capped at a hundred words.
- Date of last activityalso: DLA
- The date the account last did anything. It often decides when the item ages off, which is why a wrong one is worth disputing.
- Charge-off
- The lender gave up on collecting and wrote it off their books. You may still owe it, and it still reports.
- Hard inquiry
- A lender checked your file because you applied for something. Too many in a short period can cost you a little.
- Soft inquiry
- You or somebody else looked without an application. It does not affect anything and lenders do not see it.
- CPNalso: credit profile number
- A "credit privacy number" sold as a fresh start. It is a stolen Social Security number, usually a child’s, and using one is fraud you would be holding.
- Advance fee
- Money taken before the work is done. Illegal for credit repair under CROA, without exception.
- Frivolous
- What a bureau can call a dispute that is vague or looks mass-produced. It lets them refuse it. Specific disputes avoid it.
- Reinsertion
- When something deleted comes back. They have to tell you in writing within five business days if it does.
- 609 letter
- A letter template sold online that claims a magic loophole. Section 609 is about your right to see your file, not a removal trick. There is no loophole.
Two of those are not words, they are warnings
If somebody has used either of these on you, it tells you what kind of company you are dealing with, and it is worth acting on today rather than thinking about.
CPN, or "credit privacy number"
Sold as a fresh start. It is almost always a real Social Security number belonging to somebody else, often a child. Using one is identity fraud and you would be the one holding it. Advising you to use one is itself illegal under CROA 1679b(a). If you have already used one, speak to a lawyer today, not to a credit repair company.
The "609 letter"
Sold online as a loophole that forces deletions. Section 609 of the FCRA is about your right to see what is in your file. It is not a removal mechanism and there is no loophole. Anybody charging you for the template is charging you for a misunderstanding.