|
|
|
|
The Lowdown On
Credit Reports
|
Are you wondering what all the fuss is about credit reports? Or perhaps
you’ve just been turned down for a job or an apartment because of your
credit report. If this sounds like you, then maybe you need a quick
lesson about what it is. Let’s start with the basics.
What is it?
Anytime you borrow money from someone, your record of re-payment will
be public record. Every time you make a payment on time—or late—it will
go on your record. In addition, every time someone requests a copy of
your credit report, that will be noted as well. If you are involved
in a bankruptcy, or have a tax lien, it will all go on the report.
So, Who Cares?
A credit report is often thought of as something that lenders use when
deciding whether or not to extend credit. That’s true—you won’t be able
to apply for a credit card, car loan or mortgage without the potential
lender first checking to see if you’re a good credit risk. But there’s
more. Insurance companies are now using credit reports to determine
whether or not someone would be a good risk, as are employers. And don’t
even think of renting an apartment, house or commercial space without
a good credit report!
How Do I Get A Copy Of Mine?
So, you think that you’d better see what’s on yours? There are three
credit reporting agencies, and it’s a good idea to get a copy of your
report from all three—just in case there are discrepancies. They are:
Experian (located at www.experian.com)
Trans Union (located at www.transunion.com )
Equifax (located at www.equifax.com )
You will have to provide the credit reporting agencies with your full
legal name, your current address, as well as your last (if you’ve been
at your current one for less than five years), your date of birth, social
security number and a signature. You are entitled to one free copy of
your credit report per year, but you will need a copy from all three
agencies. Plan on paying a small fee to receive the other copies.
What Are All These Free Credit Reports I Keep Hearing About?
It also may be possible to get a free copy of your credit report if
you meet certain requirements. They are:
* You don’t have a job, but plan to look for one within the next two
months.
* You’ve been the victim of credit identify fraud or some other fraud
that will affect your report.
* You are currently on welfare
* You’ve recently been turned down for credit
I Don’t Like What I See!
If your credit report has bad marks on it, you’ll have two courses of
action, and that depends on whether or not the marks are true. If you
have made some mistakes in the past, there is no magic formula that
will erase them! You will have to get some help—either through a credit
counseling company—or simply work to pay off your debts and be on time
with your payments. Those marks will stay on your report for seven years—or
ten years for a bankruptcy.
If you find that there are false statements on your credit report, you
have some options to clear them up. You should write a letter to each
credit reporting agency explaining the mistake, along with any proof
that you have to back up your claims—such as paid receipts—and then
wait. They will have 30 days to investigate the claim and make a decision.
Having a good credit report is key to a successful financial live. If
you’ve never seen yours—take the step now and get a copy!
About The Author:
Peter Dobler is a veteran in the IT business. His passion for experimenting
with new internet marketing strategies leads him to explore new niche
markets.
Read more about his experience with credit and mortgages; visit
Credit
Score Information Directory
Other Credit And Real Estate Related Information
|
American Grant
Provider Directory
 The
Federal Government and Private Grant Foundations issue billions
of dollars in grant money to a variety of groups each year.
Grants are awarded to individuals each and every day from all
walks of life, with large and very small bank accounts, for
an ever-increasing array of purposes.
Grant programs are not Loans.
You decide how much you need. As long as the amount is lawful
and you meet the Foundations and Government Agencies Requirements,
the money is yours to keep and never needs to be repaid. This
grant money is non-taxable and interest-free!
Get more information
|
|
Do You Have
Bad Credit?
Don't give up!!
Our list of lenders and credit card
companies are willing to give you another shot. They realize
that good people can have bad credit.
Whether you have
had minor problems in the past or even bankruptcy, our lenders
are there to help you not only receive a loan, but also to re-establish
your credit.
Are you ready to
get your second chance?
Get more information
|
|
Mortgage Loan Tips
 "Excellent
for first time buyers, move-up buyers or refinancing. I cannot
recommend it highly enough - this should be required reading
for anyone who wants to get a loan."
M. Klinger, Real Estate Broker
Aventura, FL
Get more information
|
|
Credit Repair
- Erase Bad Credit Now!
 Are
you tired of Bad Credit? - High Interest Rates? Disapproved
Credit?
Use my experience today, and I will show you
how to get every negative item Removed from your Credit Reports
within 1-3 Months. Guaranteed!
Get more information
|
|
Credit Secrets
 "How
to Clean Up your Credit Report and Wipe All Your Credit Card
Debts in Record Time!"
Take a moment to imagine this...
On any given day you could be receiving new pre-approved credit
card offers in the mail, you could able to purchase a new home
without worrying about qualifying for a mortgage, financing
for automobiles and boats could be readily available to you,
and...you could have piece of mind knowing that should an emergency
arrive you would have the resources to take care of you and
your family.
Get more information
|
|
