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Consumer Disclosure
A consumer disclosure is a detailed history of an individual's credit information. It lists all enquiries made to the credit information. This includes account management enquiries, non-credit related enquiries and the person's own enquiries. This version is only accessible to the consumer and creditors do not get to see it. Consumers have a right to receive a copy of their consumer disclosure for free. It can be necessary for a person to read this report in order to understand their rights as a consumer.
The disclosure is written out in an easy to understand format designed specifically for the consumer. There is a less detailed business version that creditors can apply for but it does not give the same amount of information. The reason people may apply for a consumer disclosure could be that they need to understand why their credit ratings may be low. It can help them rectify errors and see what areas are lowering their ratings in order to improve them. If a person has the information on how they are going wrong, then they have the chance to sort out the problems and aim towards a better credit history.
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