Your Entire Life is on Your Credit Report
Fortunately your credit report can only be obtained by persons with a legitimate business need for the information – because whoever has your credit report holds your entire identity in their hands. If you ever wish to print your credit report, or have a copy of it hanging around, be sure to keep it in a very secure place. Also be careful who you allow to inquire about your credit. All of that information in the wrong hands could be deadly to your credit score.
Video: What's in Your Credit Report?
Credit Reports and Your Personal Facts
The information on your credit report doesn't leave a lot to imagination or assumption when it comes to your personal life. Anyone with access to your report now knows your full name, any aliases (such as maiden or married names), current and previous addresses (if you were on the lease or left any other kind of paper trail), what year you were born, current and past employers – and similar information about your spouse, if you are married. It wouldn't take much for someone to steal your identity or at the very least track you down with that kind of informational power, and collection agencies won't hesitate to obtain your credit report to get up-to-date information on your whereabouts. Although none of this information directly affects your credit score, creditors and lenders often use it to determine your credit-worthiness.
Credit History Facts on Your Credit Report
The credit
information section of your credit report is where an
identity thief determines if your identity is worth stealing. In it
they will discover the accounts you have with banks, retailers (such as a Sears
or Target card), credit card issuers, utility companies (typically only if you
become overdue on a bill), and any lenders including mortgage and finance
companies (such as auto loans, student loans, and similar). Each is listed by
the type of loan, such as mortgage, student loan, revolving credit (ie credit
cards – but credit cards are counted separately from retail credit), or
installment loan. Each listing also provides information on the date you opened
the account, your credit limit or loan amount, any co-signers, and payment
history over the last two years. Items which negatively affect your score will
stay on your report for seven years, whereas positive items may remain
indefinitely, but nobody really knows for sure exactly how long or how strongly
each affects your score. Also noted are any “hard” credit inquiries
over the last year – hard inquiries include creditors, lenders, and
anyone but yourself or your employer. “Soft” inquiries –
specifically inquiries for the purposes of employment – stay on your
report for two years but don't affect your credit score.
Public Information on Your Credit Report
Last, but not least, your credit report also contains information anyone can find in public records. Included are state and county court records on bankruptcy, tax liens, or other monetary judgments such as child support, fines, and lawsuits. However, some of the reporting agencies also include non-monetary judgments – so if you have ever been convicted of anything, you can pretty much assume it is on your credit report for at least seven years.
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DTS Financial Debt Settlement Company
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Successful Solutions Financial Services
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Express Debt Settlement
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D.J. Rausa, Attorney At Law
(800) 422-3328
A Professional Credit Service
(800) 645-2190