Theme: Tons of Info About Your Credit Report - Laid Bare
June 28, 2009Your credit report information can denote the difference between a “yes” and a “no” on your next significant buy or on your next charge card. This can be a big difficulty if you are setting up an event like a wedding. You try to get credit for that purchase of wholesale wedding favors and are summarily turned down! It’s unpleasant. We basically understand what particulars are listed on the tell-all expose of our debt chronicle. The basic information includes name, address, telephone number, social security number and your date of birth.
Basic details aside, there is more to your credit report information to consider. Most may not know that alias names are also listed on the sheet. Your previous address or addresses are also included as are past telephone numbers. If you have an unlisted telephone number, it is still listed with the rest of your credit report information. Many are stunned to find that unlisted telephone numbers can be shown in this record, but it is. It’s vital to understand what’s included and be able to control it, because we all know that a bad credit report can set off more issues than yeast infection symptoms.
Another surprise that pops up is your employment record. This might not seem germane or even fair but we have to consider the individual’s capability to make timely 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 company giving the line of credit needs to determine if the possible debtor has a established source of income. What’s more, if you work for yourself - for instance, if you have just gotten your personal trainer certification - that could be an issue.
Some people are disappointed to find out that they their applications are denied simply because they have just started a new job. A person with little record shown on his credit report information might not get a loan or a line of credit if he has barely been working for a company for a few weeks or months. The individual has demonstrated no stability and there is not much else the creditor has to go by aside from payment record. If this is a first-time applicant, he might find himself out of luck.
There are several things that are left out of your credit report information. Your age, race and marital status are out of bounds to a prospective employer who is doing a search on you. These things are not applicable to employ so these are kept classified.
Bankruptcies that are more than ten years past are left off as well as debts that are in excess of seven years previous. This is the broad rule, but it is a fine plan to examine your record regardless. Several old debts might still turn up and bankruptcies may not vanish in a timely manner. It is always a decent plan to check your credit report information for correctness.