Expert Debt Management
Expert Debt Management
Familiarising Yourself With Your Credit Report
You may have heard a lot about your credit report but not actually understand what it is all about. A credit report is basically a file on what you have done with your money and how you have managed credit that has been extended to you in the past as well as in the present. Creditors can find information about you, where you live, your criminal records, if you pay your bills on time, if someone has sued you in the past, as well as if you have filed for bankruptcy or experienced foreclosure. Basically, your credit report gives a potential lender all of the information that they need to make an informed decision about you at a glance.
If you are going to apply for a loan you should definitely take a look at your credit report, first. You may find when you look at your credit report that there are inaccuracies or things that you need to work on before you actually apply for the loan. Holding off will give you a better chance of getting approved for the loan and getting a decent interest rate.
As a consumer with a credit report, you have a right to view your credit report. You can pull your credit report for free once a year or you can purchase it through a credit report company as often as you like. You should view your credit report at least once per year to make sure that all of the information on it is accurate as well as to ensure that no one has stolen your identity and racking up debt on your behalf.
Your credit report is an important part of getting a loan or getting any type of financing, but it is not the only part. This gives a lender a good idea of who you are so you should know what is there, but you should also be prepared to share information such as where you work, how much money you make, what assets you have, and other bills that you pay on a regular basis.
Disclaimer: This site is not , nor should it be taken to be, legal, financial or other professional advice. It merely provides a generalized guidance and generalized information only. Consult a financial advisor or an attorney to discuss any legal or financial issues involved with credit and debt decisions.
Copyright © 2008-2021, DebtConsolidation-Credit.Com, All Rights Reserved.
Start by filling in the following Debt Form for a Free No Obligation Debt Consolidation Quote