Bad Credit Gone

Your credit report info can equal the difference between a “yes” and a “no” on your next large buy or on your next charge card.  This can be a huge issue if you are planning an event like a wedding.  You attempt to acquire credit for that purchase of wholesale wedding favors and are summarily turned down!  It’s dreadful.  We basically know what pieces of information are shown 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 facts aside, there is more to your credit report information to reflect on. Many may not know that alias names are also listed on the sheet. Your past address or addresses are additionally included as are past phone numbers. If you have an unlisted telephone number, it is still shown with the rest of your credit report information. Many are stunned to find that unlisted phone numbers can be listed in this document, but it is.  It’s vital to know what’s included and be able to manage it, because we all recognize that a bad credit report can set off more troubles than yeast infection symptoms.

Another surprise that pops up is your job record. This may not appear relevant or even rational but we must take into account the person’s capability to make timely payments. In order to do so the job record must be shown in the credit report information because the agency lending the money or the business providing the line of credit needs to decide if the possible debtor has a established source of pay.  Furthermore, if you are self-employed - for instance, if you have just earned your personal trainer certification - that could be an issue.

Some people are disappointed to see that they their applications are turned down simply because they have just begun a new job. A person with little history shown on his credit report information may not get a loan or a line of credit if he has merely been working for a corporation for a few weeks or months. The individual has demonstrated no stability and there is not a lot else the creditor has to go by with the exception of payment history. If this is a first-time applicant, he might find himself out of luck.

There are some things that are left out of your credit report information. Your age, race and marital status are off limits to a prospective job who is doing a search on you. These items are not relevant to employment so they are kept private.

Bankruptcies that are more than ten years aged are excluded as well as debts that are over seven years old. This is the general rule, but it is a fine idea to look into your history anyway. Several old debts may still appear and bankruptcies may not depart in a timely manner. It is always a decent plan to verify your credit report info for correctness.