Reading & Understanding Consumer Credit Reports: EQUIFAX

Webinar: ID# 1000591
About This Course:
Reading credit reports use to be simple! However, today the average credit report is over 7 pages long depending on the file format, and it takes a Medical degree to diagnose if my patient/customer is sick or not. You are not in the PRACTICE of medicine. YOU have to know! It's not what you know that will hurt you when making loans, but what you don't know! In this Informative session we will review EQUIFAX Credit Reports, the different file formats, and specific add-on products available that might make your life easier. We will also cover keys points of the Fair Credit Reporting Agency (FCRA) &Fair &Accurate Credit Transaction Act (FACTA) compliance as well as consumer disputes.

Covered Topics:

  • Input of consumer data to retrieve credit report.
  • Lending Red Flags such as "No Records" or "Thin Files."
  • Review different the different Credit File formats known as Acrofile &Acrofile Plus
  • Determine which file is best for your company and why.
  • BEACON Credit Scores &what affects the beacon score and why.
  • Other "Add-on" products such as SAFESCAN and the benefits.
  • DLA to all the other abbreviations that appear on the report.
  • Determining the status of bankruptcies, judgments, liens, and other public records.
  • Accounts Receivable Scoring – Prioritize your efforts, and collect your accounts sooner.
  • Reporting data time frames, legal requirements and when information has to purged.
  • Using credit reports to prevent fraud when opening checking accounts!

Who Should Attend?
This informative session is designed for your CEO, President, Managers, Branch &Assistant Managers, Loan Committee, Credit Analyst, Lenders, Compliance Officers, Collectors, &Human Resource Trainers.

The Presenter
Greg Souther is President of Greg Souther Consulting &Seminars ( a firm that provides training and consulting to companies in the following areas: Customer Service &Communication; Credit, Collection, &Compliance; Fraud Prevention&Information Security; and Marketing &Sales.

Greg was Co-Owner and Manager of The Credit Bureaus of Southeast Georgia, the parent company for six Credit Reporting and Collection Agencies based in Brunswick, Georgia. Other Management, Marketing, and Human Resource experience includes Credifax, formerly the Credit Bureau of Jacksonville, the Credit Bureau of Valdosta, and the Credit Bureau of Athens.

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