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Advice You - How To Read Your Credit Report
The Fair and Accurate Credit Transactions Act, signed into law on Dec. 4, 2003, gives every American the right to a free credit report every year from each of the three major credit bureaus -- Eq
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
uifax, Experian and TransUnion.
What the law doesn’t do is give every American the ability to read their credit report. Not one word in the law says the credit bureaus have to write it in plain,
What the law doesn’t do is give every American the ability to read their credit report. Not one word in the law says the credit bureaus have to write it in plain,
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
easy-to-understand language. Go to http://www.ftc.gov and click on consumers then credit and read it for yourself. Hopefully you’ll stay awake .
While all credit reports follow a basic forma
While all credit reports follow a basic forma
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
t, some vary so what you are about to read doesn’t apply across the board. If you didn’t get it directly from one of the bureaus mentioned above, your best bet for a translation is the source pro
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
iding your copy.
Here is the four part skeleton most bureaus use. Part one is your identifying information. This would be information like your name, social security number, previous addresses,
Here is the four part skeleton most bureaus use. Part one is your identifying information. This would be information like your name, social security number, previous addresses,
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
current address, date of birth, driver’s license number, telephone number, spouse’s name and your employer and length of employment. As with all sections, pay close attention because chances are
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
pretty darned good, some of it is wrong.
It is wrong because this information comes to the bureau from a myriad of sources and the bureau doesn’t take the time to update or correct it. That leav
It is wrong because this information comes to the bureau from a myriad of sources and the bureau doesn’t take the time to update or correct it. That leav
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
es you as your own correcting agent.
Part two is your credit history. This is usually the longest part of your report because you probably have had department store accounts, multiple credit car
Part two is your credit history. This is usually the longest part of your report because you probably have had department store accounts, multiple credit car
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
s, multiple bank and other financial institution loans, mortgages, car loans, lines of credit, home equity loans and other transactions involving credit.
Sometimes you will see the bureau calls
Sometimes you will see the bureau calls
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
these accounts trade lines. No big deal because they are still your accounts.
These accounts usually start with when you opened the account then tell the type or kind of credit (installment, car
These accounts usually start with when you opened the account then tell the type or kind of credit (installment, car
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
loan, personal loan, etc.) and whether it is in your name or someone else is on the account with you. The total amount of the loan with your high credit limit or if it is a credit card, your hig
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
hest balance follows. The next thing it shows is how much you still owe and if the payments are fixed or minimum monthly amounts. Your status, open/inactive/closed/paid, follow your payments then
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
comes the item everybody wants to know, how well you’ve paid on the account.
This is where the bureaus list if you are late, and if late, how late and how often you’ve been late. If you are not
This is where the bureaus list if you are late, and if late, how late and how often you’ve been late. If you are not
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
late, it will show you pay on time.
Part three is called Public Inquiries or Public Records. This is where tax liens, judgments, foreclosures and bankruptcies are listed. You want this part to b
Part three is called Public Inquiries or Public Records. This is where tax liens, judgments, foreclosures and bankruptcies are listed. You want this part to b
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
e blank and I do mean blank. If you see anything here, attempt to correct immediately if not sooner.
Part four is the Inquiries section. It is divided into two parts. Part one are the inquiries
Part four is the Inquiries section. It is divided into two parts. Part one are the inquiries
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
you initiate by filling out a credit application. This section is generally referred to as the hard inquiry section because you are the initiator of the inquiries.
The second part is called the
The second part is called the
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
oft inquiry section. What you’ll find here are the names of companies who have sent you offers of credit or current creditors who are monitoring your account.
Sometimes there is a fifth section
Sometimes there is a fifth section
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
called Remarks. Read it because you never know who reported what about you.
Each credit report bureau places an explanation of terms usually on the backside of the report pages. In it, they expl
Each credit report bureau places an explanation of terms usually on the backside of the report pages. In it, they expl
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ain what the numbers and letters you see next to your accounts mean. So, if you see something like I9, don’t fret as it should be defined in the explanation of terms.
Of course, I9 could be nega
Of course, I9 could be nega
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
tive, so you may have to fret. Either way, you are now almost totally armed to deal with that free credit report the law said the bureaus had to give you.
Good luck and may all your credit be A+
Good luck and may all your credit be A+
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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