Why canât information be deleted from the credit report? Experian stores information from credit grantors and public records in compliance with the Fair Credit Reporting Act. When you use credit, a record of your payment history is reported to credit reporting agencies.
(Updated March 4, 2016) No. Earnest money is not necessary to make an otherwise accepted offer into a valid contract. Earnest money is a buyer-performance item required to be deposited after a contract is fully executed. A contract could become effective even if no earnest money is required in the agreement.
For example if you were to back out of the deal and lose your earnest money deposit this money would be a liability to you (liability is a financial obligation and this would end up being a financial obligation to you if you backed out). When you place an earnest money deposit with the seller, this money is an asset.our earnest money is given to the seller and is generally applied towards your sales price, towards your closing costs, and/or your down payment.