Are you sabotaging yourself by ignoring the information on your credit report?

Website design By BotEap.comChances are, one day you’ll want to get your credit report information. The data in your credit report accumulates over time as businesses report your credit information to credit bureaus. Some of the basic information you’ll find on your credit report is your social security number, income, date of birth, address, place of employment, and your spouse’s name. However, the actual substance of your credit report records whether liens or judgments have been imposed against you or your property, and whether you filed for bankruptcy, paid your bills on time, or were sued or arrested. If you had to file for bankruptcy in the past, you are allowed to add a note to your credit report explaining why this happened.

Website design By BotEap.comThis timeline of information provides a snapshot of your credit history and is compiled by consumer reporting agencies such as Equifax, Trans Union and Experian. These agencies then sell the reports for a fee to interested parties such as insurance companies, creditors, employers, and other businesses. When you consider the range of companies that use your credit report to make business decisions about you, it becomes clear why you may want to request a copy of your credit report on a regular basis. We all have the right to know what is in our credit report information to check the validity of sources and information for errors or omissions.

Website design By BotEap.comIn fact, if you’re denied credit, insurance coverage, or even a job, the company that ordered your credit report is required to give you the name, phone number, and address of the credit reporting agency you got it from. The credit. reporting information. Instead of feeling depressed or frustrated, take this opportunity to review the information in your credit report and learn why you’ve been denied credit, insurance, or a job. Be aware of your circumstances and you’ll be that much closer to solving or minimizing your problems.

Website design By BotEap.comOften the biggest benefit of staying current on your credit report is being able to correct misinformation. Unfortunately, many people continue to ignore the wrong entries which can be detrimental in the long run. The consumer credit bureaus do their best, but sometimes you’ll find settled bills that show up as unresolved, or sometimes you even have someone else’s debt on your report. You are allowed to dispute an entry, and in these cases, the consumer reporting agency will verify the entry or remove it.

Website design By BotEap.comSo how can you get your credit report? You may be able to get a free copy of your credit report information once a year if:

Website design By BotEap.coma) Claim identity theft or fraudulent actions

Website design By BotEap.comb) Unemployed and seeking work within 60 days

Website design By BotEap.comc) On any type of public assistance

Website design By BotEap.comOtherwise, you can usually get a copy of your credit report for £5 or $9 in the US. It’s smart and in your best interest to protect yourself by regularly monitoring your credit report.