Author: Ryann Cairns
Your credit report is one of the most important documents in your financial life. It is essential to know what is in your credit report and how it got there. Your credit report comes into play any time are planning to buy a home, buy a car, apply for a loan or even apply for a job or take out care insurance.
Many different individuals and businesses have access your credit report, including some you may not have thought of. Your credit report is accessed any time you apply for a bank account, a home mortgage loan, or a car loan. Some employers even request a copy of your credit report before they decide to hire you. As you can see, the information contained in a credit report can have a huge impact on a consumer's life.
Any inaccurate information can hurt you. You may never even know that you were turned down for a loan or even a job because of inaccurate information in your credit report. As you can see, a credit report can be vital to all aspects of your life.
The information contained in a credit report breaks down into four areas. They are:
One thing a credit report does not contain is information about an individual's ethnic origin, character, sexual preference, medical history, political affiliation or religion. As you can see, a credit report is a vital document, and the information it contains should be closely guarded and regularly checked for errors.
Home Buyer Education:
Repairing Credit the Right Way
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