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When dealing with money problems, your credit history is what defines your credit status in the eyes of any loan organization. It is the composite view of all of your past repayment performance with every significant creditor you have borrowed from and it is where we start when heading down the road to debt relief. Typically, items recorded in the credit record of each creditor include the original principal amount, what was purchased, initial down payment or deposit - if applicable, type of credit (revolving, fixed term and payment, unsecured or secured), total amount repaid, was the debt paid off satisfactorily, were payments on time, if there were late payments - how many were late and how late were they.

Reports on your past credit performance will usually come from one of two sources; a credit reporting institution or directly from one of your creditors. Your credit record is maintained by 3 primary credit reporting institutions; Equifax, Experian and Trans Union.

Things to be aware of and that potential creditors will make note of include a history of late payments, frequent job changes, previous foreclosure, bankruptcies, Judgments against you, bounced checks and low bank balances. Other items may be factors as well.

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