Getting What You Want Out of Life – Are Reporting Inaccuracies Holding You Back?
According to reports released by some of the leading financial analysts in the country, there are an amazing amount of inaccuracies on your credit report that can hold you back from getting what you want out of life. It is not good enough to put your credit report on the back burner until you are contemplating a major purchase or investment of some type because by then the damage could already be done!
Who Has Been Sitting in My Chair?
Your credit report is so much more important than you know because it can have a direct impact on virtually every area of your life, from getting that dream job to renting a condo on South Beach. By the time you clear up errors or fraudulent entries it could be too late. The guy next door is going to work every morning sitting at the desk which should have been yours and you are still stuck ten miles inland on the outskirts of the Everglades while some stranger is sitting on your balcony sipping frozen daiquiris. Perhaps it sounds like a modern day rendition of Goldilocks and the Three Bears, but someone could be sitting in your chair because you were busy looking the other way.
Where Should I Be Looking?
We know that identity theft is a huge issue since we are living in the digital age. You should be getting a copy of your credit report annually to make sure that it contains no inaccuracies which need to be corrected. If you find any blemishes due to charges you didn’t make, it could be a mistake but it could also be identity theft! Unless you know what is there you have no way to counteract human error or downright fraud. Some experts even advise that you check your credit report more often than once a year. According to a recent article found on the MSN Money website, you can space your three annual credit reports from the major reporting agencies, Experian, TransUnion and Equifax, evenly throughout the year. Also, you may wish to join a credit monitoring service that will alert you any time there is activity on your report.
Pay Attention to Details!
Also mentioned in the MSN Money report was the fact that we fail to pay attention to important details. While we are busy looking at what is listed on our credit report we forget to make sure that all of our personal information is accurate. Make sure your contact information is correct as well as any other personal identifying information such your Social Security number or date of birth. You would be amazed at how often these are incorrect on credit reports! This is especially important if you have been working diligently to restore your credit. If your personal identifying information is incorrect then it stands to reason that any progress you make may not be on your free annual credit report! Those clerks in the reporting agencies are not detectives so they more than likely will not hunt down the right person to add positive marks to their credit history.
The key to good credit (in addition to paying your bills on time!) is to keep a watchful eye on what your credit report is saying about you. Reporting inaccuracies are much more common than most of us are led to believe and often the ultimate cause of being denied the things we want most in life. Someone could indeed be sitting in your chair at the moment because you were too busy looking the other way.