Debt Views

I’m about to tell you what’s in your credit report and why this information is important to you, your potential lenders, insurance companies, and employers.

Personal Identity InformationThe personal ID information that’s in your credit report includes your birth date, current address and phone number, your SSN, employment history, and if you are married, your spouse’s name as well. All of the third parties listed above use this information for application verification.Your financial history…Good and badThis is an obvious one for inclusion in the report as it is the part that your potential lenders and such are most interested in. It includes your bill paying history, current and past creditors, mortgages, delinquencies, and defaults.

Your public recordsIf you’ve filed for bankruptcy within the past 7 years, have a court judgment against you, or the IRS has placed a lien against you, it will appear here. Pay special attention to this section just in case you find something from your past that you have forgotten about but “they” didn’t.Third party queriesAny third party that has authorization to access your credit report and has taken advantage of it will be listed here. This most often includes credit card companies looking to “voluntarily” extend credit to you, and companies following up on an application you may have submitted. This section can also include potential employers doing background checks, and car dealerships if you have given them even a smidgen of personal information — They may be sizing you up to see what direction to point you in if you return.

You should take note of all the information that is listed in your credit report and dispute any inaccuracies as soon as you notice them. When it comes to incorrect information you need to be proactive because procrastination does not pay. In other words good things do not come to those who wait!