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What is a credit report (also known as credit-file)?
A credit-report data collected over the years about your financial history.
Who ever for the credit, phone, electricity account, a credit report.
Some details it contains are:
1. If the credit has been requested and approved by the WHO (bank or institution)
2. The amount available for
3. Personal information (name, address, date of birth ect.)
4. Overdue bills
5. Bankruptcy Details
And all other details relating to your financial history.
Why Keep A Good rating / report?
A good credit rating report is very important as a credit check is an important part of the lender selection criteria, it will not only have an effect on the outcome of your loan, but it is also about the nature of the interest rate you receive on your loan. If you have a bad credit rating report, you will probably be a higher interest rate on your loan.
How long does a paid and unpaid debts Stay On My Credit Report?
An overdue bill as a late payment even if they are paid will remain on your credit report for 5 years of the date that the debt ratio was.
Bankruptcy information remains on your file for 7 years (if bankruptcy was after 1998)
Clearout information for 7 years. What is clearout? Clearout missing is a confirmation of the debtor, this is when a creditor has a reasonable cost to the debtor and has been unsuccessful in doing. If contact can not be made, the creditor need not wait until the payment 60days overdue.
Do I need a copy of my Credit Report?
It is a good idea to make a copy of your credit report to check whether there is a mistake, you can under an outstanding debt, but your report is as yet unpaid. A copy of your credit report is also a good way to ensure that your identity has been stolen and is used by someone else.
A credit-report data collected over the years about your financial history.
Who ever for the credit, phone, electricity account, a credit report.
Some details it contains are:
1. If the credit has been requested and approved by the WHO (bank or institution)
2. The amount available for
3. Personal information (name, address, date of birth ect.)
4. Overdue bills
5. Bankruptcy Details
And all other details relating to your financial history.
Why Keep A Good rating / report?
A good credit rating report is very important as a credit check is an important part of the lender selection criteria, it will not only have an effect on the outcome of your loan, but it is also about the nature of the interest rate you receive on your loan. If you have a bad credit rating report, you will probably be a higher interest rate on your loan.
How long does a paid and unpaid debts Stay On My Credit Report?
An overdue bill as a late payment even if they are paid will remain on your credit report for 5 years of the date that the debt ratio was.
Bankruptcy information remains on your file for 7 years (if bankruptcy was after 1998)
Clearout information for 7 years. What is clearout? Clearout missing is a confirmation of the debtor, this is when a creditor has a reasonable cost to the debtor and has been unsuccessful in doing. If contact can not be made, the creditor need not wait until the payment 60days overdue.
Do I need a copy of my Credit Report?
It is a good idea to make a copy of your credit report to check whether there is a mistake, you can under an outstanding debt, but your report is as yet unpaid. A copy of your credit report is also a good way to ensure that your identity has been stolen and is used by someone else.
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