Everything You Ever Wanted to Know About Your Credit Report - Exposed
June 29, 2009
Your credit report information can denote the difference between a “yes” and a “no” on your next significant purchase or on your next charge card. This can be a large issue if you are planning an event like a wedding. You attempt to obtain credit for that purchase of wholesale wedding favors and are summarily turned down! It’s dreadful. We basically know what facts are shown on the tell-all expose of our debt history. The basic information includes name, address, telephone number, social security number and your date of birth.
Basic information aside, there is more to your credit report information to reflect on. Most may not be aware of the fact that alias names are also shown on the paper. Your former address or addresses are also included as are other phone numbers. If you have an unlisted phone number, it is still shown with the rest of your credit report information. Many people are taken aback to discover that unlisted telephone numbers can be shown in this record, but it is. It’s imperative to know what’s included and be able to manage it, because we all recognize that a bad credit report can cause more issues than yeast infection symptoms.
Another surprise that pops up is your employment record. This may not appear pertinent or even reasonable but we have to consider the person’s capacity to make on-time payments. In order to do so the employment record has to be shown in the credit report information because the agency lending the capital or the corporation giving the line of credit needs to determine if the possible debtor has a steady source of income. What’s more, if you work for yourself - for example, if you have just received your personal trainer certification - that could be an issue.
Some people are saddened to discover that they their applications are turned down purely because they have just started a new job. A person with little record shown on his credit report information may not get a loan or a line of credit if he has only been working for a corporation for a few weeks or months. The person has demonstrated no steadiness and there is not a lot else the lender has to go by besides payment record. If this is a first-time applicant, he may find himself out of luck.
There are some items that are left out of your credit report information. Your age, race and marital status are out of bounds to a potential job who is conducting a search on you. These items are not germane to employ so these are kept classified.
Bankruptcies that are over ten years previous are excluded as well as debts that are more than seven years previous. This is the general rule, but it is a fine idea to examine your record regardless. Certain old debts may still turn up and bankruptcies may not depart in a timely manner. It is always a good idea to check your credit report information for correctness.
Tags: credit report
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