Credit Reports - Proceed with caution: Debt consolidation loans encourage tendencies already leading to financial challenges. By taking on yet another creditor, theyre adding fuel to the fire.
Ready for the scoop on your credit report? Studying your report isn't hard, and could pay big dividends if you're in the market for a loan. If you understand your credit report and have a good credit score, you can negotiate with lenders for the very best interest rates.
Remember that creditors are not required to report any account history information to the credit bureaus. However, if you have a joint account and the creditor does report it - it must be reported under both your names under the Equal Credit Opportunity Act. The best way to make sure this is done is to contact your creditor in writing (make sure to include account numbers and keep a copy).
Request a copy of their credit report from each of the 3 major credit-reporting agencies. Be sure to contact all three as sometimes creditors were registered with different credit bureaus because of logistics or geographical restrictions. They may contact them On- line, but to be on the safe side, a telephone call - followed up in writing - may get they quicker results. Contact intimation to the three major credit-reporting agencies could be found at the bottom of this article.
Secondly, one point buys different amounts depending on what loan theyre getting. If theyre getting a 30-year fixed mortgage, one point will reduce their interest rate by about 0.25%. With loans that were fixed to 5 or 7 years, one point will reduce their rate by about 0.375%. These were not exact figures. They vary by lender or by program. If theyre getting a 2-year fixed loan, one point would reduce their rate by a full 0.50%. The shorter the fixed period, the more one point will buy.
She said credit card fraud was a form of economic sabotage as it creates a bad image for the country in the global market at a time when the government was moving to boost tourism.
Since your credit is so important, you have the right to dispute some of the reports that are contained within your credit file. Should you request a copy of your credit report and find that it contains errors or inaccurate information, you can contact the credit reporting agency that issued the report and request that they investigate the error.
So what's the cost of a small error in your free credit reporting? Most people tend to think of their credit as either good or bad. But creditors can rate credit very precisely. And while a little error probably won't get your auto loan or mortgage rejected, you may pay higher interest rates because of it. Or if you're applying for insurance, most insurance companies will check your credit and that small error could mean higher premiums. And maybe worse of all, if there's an error in the report that your employer or potential employer sees, it could mean you get passed over for a promotion or don't get hired because another equally qualified candidate had a clean report.
Social Security Identity fraud is a very serious matter. Dealing with the various government agencies to clarify their Social Security records is a time consuming or often frustrating experience. Thereto, to avoid having to deal with such a task, they should always, always made every fetor to keep their Social Security identity is safe or out of the hors of criminals.
Some people even have the idea that credit bureaus must complete their investigation within thirty days or be forced to remove all disputed information. The reality is no one forces the credit bureaus to fix your credit rating or anything else for that matter.