What is credit reporting?
What information does DTE Energy report?
How can credit reporting help me?
What happens if I am experiencing difficulty paying my
bill?
What happens if I have a payment agreement?
What does a credit report look like?
If I have questions about my credit report, what should I
do?
With whom will you share this information?
If I am having trouble managing my bill, what can I do to avoid
unfavorable information being reported to a credit-reporting agency?
How can I learn more?
Q: What is credit
reporting?
A: Companies that want to check credit ratings for
individuals can contact three credit-reporting agencies: Experian, Equifax and
Innovis. These agencies have access to payment records from credit grantors,
such as credit card companies, and mortgage and auto loan lenders. They use the
payment information to produce a credit report.
Q: What information does DTE
Energy report?
A: DTE Energy's credit reporting program includes
full-file reporting for all residential customers. This means the payment
histories of all residential customers - those who pay on time and those who do
not pay on time - are reported to three credit-reporting agencies.
Q: How can credit reporting help
me?
A: It's important to have a good credit rating when
applying for credit cards, home or auto loans, or personal lines of credit.
Before approving a loan, creditors check an individual's credit history.
Full-file credit reporting provides an opportunity for customers who pay on
time, but may lack a credit history, to establish creditworthiness and build a
good credit rating by simply making their monthly DTE Energy bill payments.
Q: What happens if I am
experiencing difficulty paying my bill?
A: Payment histories for customers that pay late or cannot
pay the total bill amount are reported to credit agencies when the account is
60 days overdue. This allows time to pay the total amount of the bill, contact
us to enter into a payment agreement or find out about eligibility for payment
assistance programs.
Q: What happens if I have a
payment agreement?
A: Customers that enter into a payment agreement, and make
the agreed payment amounts on time, are considered current and are not reported
to credit reporting agencies.
Q: What does a credit report
look like?
A: A credit report generally has four sections:
- Identifying information - includes your name, current and previous address, Social Security number, year of birth, and current and previous employers.
- Credit information - includes information about accounts or loans you have with banks, retailers, credit card issuers and other lenders. The information may include credit limits, outstanding balances, and your payment history for at least the last year.
- Public record information - includes information from state and county court records on bankruptcy, tax liens or monetary judgments.
- Inquiries - a summary of who has requested and received a copy of your credit report within the last six months or two years for employment purposes.
Q: If I have questions about my
credit report, what should I do?
A: Any information on your credit report can be
investigated through the credit-reporting agencies. You can obtain a free copy
of your credit report once every 12 months by contacting the four agencies at
their toll-free number or visiting their Web sites:
- Experian: 888.397.3742 or experian.com
- Innovis: 800.540.2505 or innovis.com
- Equifax: 800.685.1111 or equifax.com
Q: With whom will you share this
information?
A: DTE Energy shares payment information with the three
major credit-reporting agencies, Experian, Equifax and Innovis. The
credit-reporting agency then provides payment history information to companies
or individuals inquiring about your credit history in the form of a credit
report.
Q: If I am having trouble
managing my bill, what can I do to avoid unfavorable information being reported
to a credit-reporting agency?
A: DTE Energy offers a variety of payment options and plans that can help you manage
your energy bills. If you are experiencing difficulty paying your energy bill
contact us to see if you are eligible for payment arrangements or to find out
if you are eligible to receive assistance with your bill
payments.
Q: How can I learn
more?
A: To learn more about credit reporting, visit the Consumer Data Industry Association Web site. The site
contains information about how to get your credit report, laws and regulations,
and frequently asked questions about credit reporting.
