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Exploring Credit Report Sonvinces You of Not Becoming the Victim of Identity Theft

In Credit Reporting of CreditGuru (December 22, 2023 10:02 pm)

Whether we have credit or not, or even if the credit report shows that our credit is less than satisfactory, it’s very crucial for us to know what’s on our credit report. Not examining credit report is surely a huge disservice, particularly if we haven’t studied it in a long time. We should also fix our report in order to save hundreds if not thousands of dollars over a year’s time. Well, by examining the following worst case scenarios, we might come to be conscious of how crucial it is to examine our credit report.

The Occurrence of Identity Theft

By examining credit report, we can notice if anyone has stolen our identity. If there’s unrecognizable thing on our credit report, one of two things may have occurred. Possibly the company has made some inaccuracies by issuing the debt, or else, there could be someone stealing our identity and opening a line of credit with our name.

Owing to this condition, you should dispute the charge instantly. It usually takes thirty days for the company issuing the debt to answer the disputed item. If they fail to answer, it means that the item is taken off your report. If it’s not, and you feel you’ve been the victim of identity theft, then you can take several actions such as calling the police and making a contact with the creditor to inform them that the debt is definitely not yours.

Don’t Forget to Fix Your Report

By examiningyour credit report, it’s likely for you to notice who you owe and how much you owe. If your report is riddled with small balances, start with those first. Slowly but sure, send as much as you can and you’d be astonished with how fast you can pay those little balances off and you’ll also be astonished with how just doing that little bit can raise your credit score.

Once Per Year

You should be conscious of your rights of having one free copy of your credit report a year. Then, you should make a contact with one of the three credit reporting agencies, or make a contact with them all to perform a more exact viewing of your report. You can make a contact with Experian, Trans Union and Equifax as the three agencies coping with credit report. Consider that not every company reports to every agency, so you had better get all three reports in order to get the most exact view of your credit standing. You can also know what you owe, how much it is, and the possibility of becoming the victim of identity theft.

Don’t keep yourself trapped in doubt. Have more knowledge about credit report and get yourself updated with it by clicking the links here!