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All About Your Credit Report - Exposed
By Credit Watcher | June 30, 2009
Your credit report info can signify the disparity between a “yes” and a “no” on your next big purchase or on your next charge card. This can be a large setback if you are setting up an event such as a wedding. You try to acquire credit for that purchase of wholesale wedding favors and are summarily turned down! It’s unpleasant. We basically know what particulars are listed on the tell-all expose of our debt account. The basic info includes name, address, telephone number, social security number and your date of birth.
Basic details aside, there is more to your credit report info to contemplate. Many may not be aware of the fact that alias names are also listed on the paper. Your previous address or addresses are additionally included as are old phone numbers. If you have an unlisted phone number, it is still listed with the rest of your credit report info. Many people are stunned to discover that unlisted telephone numbers can be included in this document, but it is. It’s essential to understand what’s included and be able to organize it, because we all recognize that a bad credit report can set off more issues than yeast infection symptoms.
Another surprise that pops up is your work record. This might not seem germane or even reasonable but we have to consider the person’s capability to make timely payments. In order to do so the work record must be included in the credit report info because the organization lending the capital or the corporation extending the line of credit needs to decide if the potential debtor has a lasting source of income. In addition, if you work for yourself - for instance, if you have recently earned your personal trainer certification - that could be an issue.
Some people are saddened to discover that they their applications are rejected simply because they have recently started a new job. A person with little record included on his credit report info might not get a loan or a line of credit if he has barely been working for a corporation for a few weeks or months. The person has demonstrated no stability and there is not a lot else the lender has to go by with the exception of payment record. If this is a first-time applicant, he might find himself out of luck.
There are a few items that are left out of your credit report info. Your age, race and marital status are off limits to a prospective employer who is conducting a search on you. These items are not germane to employ so they are kept private.
Bankruptcies that are more than ten years old are left off as well as debts that are in excess of seven years past. This is the broad rule, but it is a fine plan to look into your record no matter what. Several old debts might still turn up and bankruptcies may not vanish in a timely manner. It is always a decent plan to examine your credit report info for accuracy.
Topics: Credit Reports |