REGULATED SERVICES

DISCLOSURE
- any disclosure of Consumer report to the consumer to whom it relates, including the Annual report Disclosure.
- a consumer file disclosure is also commonly referred as credit report or a disclosure.

CREDIT REPORT
- 	Is a summary of your financial history
- it contains information such as mortgages you may have, student loans, and credit cards that may be in your name
- Lenders us this information to make certain decisions about you.
- You can get a free copy of your credit report once a year from each of the nationwide consumer credit reporting agencies.
- Make sure to check your credit report regularly.


WHAT'S IN THE DISCLOSURE?

1. Personally Identifying Information 
	-includes your name, address, SSN and DOB.

2. Credit Accounts
	-includes your current and past accounts reported by your lenders and creditors.

3. Inquiry Information
	 -includes information about companies that have reviewed your credit file. There are two types of inquiries: soft and hard.

4. Bankruptcy public records
	 -Bankruptcies and related details about them, such as the filing date and the chapter (type of bankruptcy)

5. Collection Accounts
	 -Include past-due accounts that have been turned over to a collection agency.


HOW LONG DO ITEMS STAYS ON CREDIT REPORT?

- Most negative information generally stays on credit reports for 7 years.
- Bankruptcy stays on your Equifax credit report for 7 to 10 years, depending on the bankruptcy type.
- Closed accounts paid as agreed stay on your Equifax credit report for up to 10 years.

NEGATIVE ITEMS

- late payments - Up to 7 years from the original delinquency date (date of missed payment)
- Collection or charged-off accounts - 7 years from the date of your first missed payment that led to the collection of charge-off status.
- Other negative accounts - Up to 7 years from the date of your first missed payment that led to the collection of negative status.

POSITIVE ITEMS

- Active Accounts paid as agreed - Remain as long as the account is open, and the lender is reporting it.
- Closed Accounts paid as agreed - Up to 10 years from the date it was reported


REASONS WHY CONSUMER MAY REQUEST A DISCLOSURE

ADVERSE ACTION
STATE FREE
STATE REDUCED
FRAUD OR EXTENDED FRAUD ALERT
UNEMPLOYED
CURIOSITY
PUBLIC WELFARE ASSISTANCE
ANNUAL FREE


TYPES OF DISCLOSURE REQUEST (FREE DISCLOSURES)

- Consumers can receive up to 6 free*additional copies of their Equifax Credit reports per year by creating myEquifax account.
- Consumers can also go to AnnualCreditReport.com and access a free weekly credit report from Equifax.


EXCEPTION - DISCLOSURES

Covid 19
- Due to the Covid-19 pandemic, Equifax currently offers consumers the opportunity to request a free weekly disclosure.

Breach Settlement
- As part of the Equifax Data Breach, Settlement Equifax will no longer charge a fee to consumers for the first 6 copies of their disclosure.


WHO CAN ACCESS A CONSUMER CREDIT REPORT?

- The individual pulling their own credit report or file for personal knowledge.
- Student loan providers
- Landlords or Apartment owners
- Government agencies
- Banks
- Utility Companies
- Employers
- Creditors
- Insurance Companies
- Collection Agencies

REQUIREMENTS- AUTHENTICATION

- Consumers (with the exception of Third-Party requests) are able to use any secure channel to authenticate themselves and provide a request reason in order to request a disclosure.
- You cannot give information out to a consumer who does not pass authentication.
- For consumers who fail the authentication: Submit Documents
1. One document to verify their SSN and
2. One document to verify the current address.


Mailing Address: Equifax Disclosure Request P.O Box 740241 Atlanta, GA 30348


THIRD PARTY CONSUMERS
-Third party requests must be submitted via the mail channel due to required documentation. A third party is any person that is not the consumer.

To validate a Third Party's Identity (Select only 1 of any document)
- Driver's License 
- State Issued ID Card
- Passport


Items to validate that thew Third Party is the consumer's authorized representative

- Birth certificate of minor
- Court order
- Power of Attorney 
- Death Certificate
- Foster care documents


DECEASED CONSUMER
-Third parties who utilize a death certificate in order to obtain a deceased consumer report disclosure.


CHANNEL TO REQUEST

Channel  / Timeframe  / Delivery Method

Phone - 4 business days / Mail
Mail - 4 business days / Mail
IVR - immediately - 4 business days / Mail
myEquifax - immediately / online version
Walk-up - immediately / printed version
AnnualCreditReport.com - immediately / online version
Identity Work Premium - immediately / online version


Delivery type for ADA consumers:
- large print / audio / braille


MAILING DISCLOSURE EXCEPTIONS
- Do not send credit report if there are discrepancies with current address or SSN or name.
- A copy of a credit report must be sent To a United States consumer with an international address.


PROCESSING DISCLOSURES