Home > Free Credit Report >
Personal Credit Report > Personal Credit Report: Hold Everything You Need
Personal Credit Report: Hold Everything You Need |
|
A personal credit report is very important for you before you apply for a loan. By checking a copy of your personal credit report, you can essentially predict how likely you are to receive the loan from a creditor. Who doesn't want to buy a car or a new house? Everyone tries to fulfill their dreams. Unfortunately, not everyone is financially sound. While a lucky few manage to make their dreams come true, the rest have to wait. But have you ever thought of the banks and financial institutes that would be willing to give you several types of loans even if you have a bad credit or no credit at all? If not, it's the perfect time for you to think about and apply for a loan as soon as possible. However, it's not exactly a cakewalk. Before getting a loan, check out your personal credit report. The most important criterion to be able to buy your dream car or house is a good personal credit report. Your personal credit report tells how likely you are to get a loan or a credit card. Therefore, your credit report should not be a mystery! You need to know every aspect of your credit report; otherwise you may face a lot of difficulties in accessing your loan, sometimes resulting in a denial for credit. According to the Public Interest Research Group, one out of every four credit reports carries errors that disqualify a person from opening a bank account, purchasing a home, and so on. That's why it's really important to get a copy of your credit report and check it thoroughly any errors. But before you start your scrutiny of your personal credit report, know what your credit report actually contains. Your personal credit report contains several types of information about you, among which mention may be made of: Personal information: A personal credit report contains personal information like your name, your addresses (present as well permanent), your date of birth, and your social security number. Any electricity and phone bills, and medical expenses would also be shown if you have a history of missed payments. Public records: For a specific period of time public records such as bankruptcies, delinquent child support payments, unpaid tax liens etc. also appear on the personal credit report. While bankruptcies remain for 10 years, delinquent child support payments and unpaid tax liens stay for 7 and 10 years respectively. Personal credit report also shows whether you have an IRS (Internal Revenue Service) tax lien, and whether a collection agency has contacted you. Detailed credit history: Your personal credit report depicts your detailed credit history like the date on which you opened any of your credit card accounts, your credit limits, balances and monthly payment history etc. Negative information about your credit such as information about your closed accounts is also mentioned in your credit report. Miscellaneous information: Credit transactions of $150,000 or more; a job with a salary over $77,000; an application for credit or life insurance valued at more than $160,000, and a statement of dispute which states if you are challenging a specific claim are also listed on your personal credit report. Besides, of course, your credit score is also found in your credit report, which is a deciding factor in confirming your interest rate on a new loan. The higher the score, the lower the interest rate or vice versa. Your personal credit report is generally divided into 5 sections: personal information, employment record, credit information, public record, and past inquiries into your credit. The section that deals with your personal information is the section where you need to pay most attention. If you find any errors in this section, you are entitled to have them corrected. Apply to any one of the three national credit-reporting agencies and follow the procedures that they maintain. |
|
| ------------------------ |
|---|
|
|
| ------------------------ |
|---|
|
|
|
|
| ------------------------ |
|---|
|
| ------------------------ |
|---|
Custom Search
|
| ------------------------ |
|---|
|
|
| ------------------------ |
|---|
Consumer Alerts | About | Bookmark Us | Contact | Espanol | Privacy Statement | Copyright | Terms & Conditions | Financial Widgets | SiteMap
Copyright © 2006 Credit Loan, LLC. 235 APOLLO BEACH BLVD, STE 218 Apollo Beach, Florida 33572 All rights reserved.
Disclaimer: The content provided on CreditLoan.com is for informational purposes only; do not make any financial decisions based on its content. Financial decisions are personal, based on an individual's situation. Consult with a financial professional before making any financial decisions. CreditLoan.com is not liable for your financial actions.
