A credit report is a tool to measure the creditworthiness of a borrower and is used by lenders and other financial institutions when they approve or disapprove loans or credit. The credit report is maintained by agencies called credit bureaus which collect information about consumers past payment history, bankruptcies, civil court judgments, criminal convictions, and other credit related transactions. This credit report becomes a yardstick for lenders to assess the amount of risk that is involved while approving credit. Therefore it is imperative that your credit report contains detailed an…