Secondary Credit Bureaus-Clarity Services

Ever been tempted by a "no credit check" loan? It sounds easy, but there's often a catch. Many of these lenders don't rely solely on your traditional credit report from Equifax, Experian, and TransUnion. Instead, they turn to secondary credit bureaus like Clarity Services. Understanding how Clarity Services works is crucial for protecting your financial health and making informed decisions about loans.

What is Clarity Services?

Clarity Services is a specialized credit bureau that provides risk management solutions. Unlike the major credit bureaus, Clarity Services focuses on your history with short-term lending and banking activity. This includes information about:

• Payday loans: Your history of taking out and repaying these short-term, high-interest loans.

• Installment loans: Details on your experience with installment loans, especially those from subprime lenders.

• Checking accounts: Records of overdrafts, NSF (non-sufficient funds) incidents, and account management.

• Check writing history: Information on returned checks and potential check fraud.

The "No Credit Check" Deception:

The phrase "no credit check" can be misleading. While a lender might advertise "no credit check" to suggest they won't pull your Equifax, Experian, or TransUnion report, they often will check your Clarity Services report. This means your history with payday loans, bank accounts, and checks still plays a role in their decision.

How Clarity Services Impacts Loan Approvals:

Lenders use Clarity Services to assess your risk as a borrower. If your Clarity Services report reveals a pattern of:

• Frequent payday loan use

• Numerous overdrafts or NSF incidents

• A history of returned checks

You may be denied approval for loans, even if you have a decent credit score with the major credit bureaus.

Clarity Services and Credit Verification:

Beyond loan approvals, Clarity Services can also play a role in credit repair. If you're disputing negative items on your Equifax, TransUnion, or Experian credit reports, those bureaus may use Clarity Services to verify the accuracy of that information. If Clarity Services confirms the negative item, it can be more challenging to get it removed.

Secondary Credit Bureaus and Public Information:

Clarity Services is just one example of a secondary credit bureau. These agencies collect various types of consumer data. In some cases, the major credit bureaus also use information from secondary bureaus to populate your credit reports. This can include public record information such as:

• Bankruptcies

• Child support obligations

• Tax liens

Take Control: How Ten Dollar Credit Repair Can Help

Our Ten Dollar Credit Repair eBook provides you with the knowledge and strategies to navigate the complexities of credit reporting. We show you how to:

• Understand the role of Clarity Services and other secondary credit bureaus.

• Effectively dispute inaccuracies on your credit report, taking into account potential verification from sources like Clarity Services.

• Build a stronger financial profile to qualify for better loans and avoid the pitfalls of "no credit check" offers.

Conclusion:

Don't let the complexities of secondary credit bureaus like Clarity Services catch you off guard. Empower yourself with knowledge and take control of your financial future. Get your copy of the Ten Dollar Credit Repair eBook today!

We recommend you know what your FICO score is before you start! We recommend MyScoreIQ: Click the link to find out what your TRUE FICO Score is: https://www.myscoreiq.com/get-fico-max.aspx?offercode=43214048