Apart from your FICO score, your credit report details your credit history. Be aware that any adverse information on your credit report that has not been disputed remains for about seven years, while bankruptcy cases often remain for about 10 years.
Your creditworthiness is presently evaluated and reported by four consumer credit reporting agencies (CRA) – Experian, Equifax, TransUnion and Innovis. Based on submissions from your banks, creditors, and lenders on your accounts and how you are making payments, these credit bureaus are regulated under the Fair
It’s easy to obtain a copy of your credit history report – and under the Fair Credit Reporting Act you can get one annually completely free. Checking your credit report will not damage your rating.
If you are worried about a bad credit score, the first thing you should do is to check that the credit history on record is actually correct. Identity theft is a fast rising crime and sometimes this can result in an undeserved bad credit rating. If you find suspicious line items or genuine mistakes on your credit report
I wrote about my daughter’s experience of identity theft and the saga continues.
Having married a couple of months ago in the summer, my daughter and her husband are thinking about buying a first home. It looked hopeless initially
This site was started as a result of first-hand experience (or at least, my daughter’s first hand-experience) of identity theft. Consumers are often accused of being careless with personal details – yet identity theft can happen through no fault of your own.
A negative or low credit score can significantly reduce your chances of getting a bank loan or insurance under favorable terms, owning or renting a home or getting a new credit card. It can even prevent you from gaining employment in a company that uses credit rating as one of its screening criteria.