Personal Credit Reports - Benefits
A Personal Credit Report could save you
from being totally fleeced with Identity theft.
Personal credit
reports could be your financial lifesaver! It is
of the utmost importance to closely monitor your finances.
With the high tech world that we live in it is so very easy to
have another person affect you credit rating. Identity theft
and use of personal information off the internet does not always just happen to
other people, we are all at risk.
My friend and her husband were married
for three years. They had purchased a home and were thinking
about getting a second car. My friend decided that she
would get personal credit reports before trying to finance a
vehicle, so they could secure the best loan.
When they received their personal credit
reports back her husband had several outstanding debts that had
been incurred since they bought their home. There were two
credit cards that had been taken out in his name. Both cards
had charges to the maximum level and also cash advances had
been taken out. No payments had been made.
My friend and her husband contacted the
credit card companies straight away to check out the
information that was in the personal credit reports. The credit
card applications had been made on the internet and
my friend's husband's information was used to fill them
out. The credit card companies immediately assigned a fraud
investigator to the case. He discovered that someone had
accessed my friend's husband's personal information by
hacking into the bank records that carried the loan
information. The thief did not access their accounts
directly, but instead took their personal information
to apply for credit cards. It took several months but their
credit rating was finally restored.
My friend and her husband are both
business professionals that try to be very careful about
letting their personal information get out. It was a blessing
in disguise that they decided to get personal credit
reports so that they discovered that someone was using their
identity to steal. They now have regular personal credit
reports completed twice a year to be on the safe side. They are
using a reputable company that secures their information.
Their bank agreed to pay for the
personal credit reports for two years. This seems only
fair since it was the bank’s system that was breached. It is
really scary to think that a few strokes on a key board can
wipe you out financially. It is important to use a company with
a good reputation when obtaining your personal credit report.
Beware, there are many fraudulant companies that advertise that
they will do your credit rating for free, but they are just
trying to get your personal information!
Be aware that scam artists are all around
you. It's a sad fact that we have to think like that, but
unfortunately this is the way of the world. The best thing we
can all do is make it as hard as possible for them to get
access to our money or information. There are various credit
report companies online that will do a FREE credit
report.com.
RESOURCES:
Make sure your personal credit
reports are accurate and free of
fraud. Lenders use personal
credit reports when they decide to make you an offer and what
interest rate to charge you. When you get your
credit reports you will
be able to understand and manage all your credit information
and also be informed at an early stage if there are any
unrelated debts taken out in your name. You can get a
personal credit report check
online.
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