The High three Credit Reporting Bureaus.There was a time simply a handful of decades back when your credit rating did not matter near as much as it does now.
Of course your credit rating mattered when it came time to obtain a loan for a home or perhaps an automobile however it’s a completely different ballgame now.
Trying to Rent?
Nowadays if you plan on renting a home or apartment in an upscale complex or neighborhood be prepared your prospective landlord check your credit rating.
Property management professionals figured out sometime back that a person’s credit rating can be taken as an indicator as to what type of tenant they will be.
Looking for a Job?
Then with the economy finally picking up, if you’re hoping for that dream job you better hope your credit rating is also in order.
This is because in increasing numbers employers are checking prospective employees credit ratings as part of the job screening process.
Once again, it turns out that a credit rating has been shown to be an effective employee quality indicator.
Equifax, TransUnion and Experian
Today the 3 top credit reporting bureaus are Equifax, TransUnion and Experian and they’re both based out of the United States.
They’re also listed on the Internet, and all three of them by law must provide every US citizen with a free copy of their credit report once a year upon request, and you can request one online.
Why Check Your Credit Reports?
Virtually all experts on the topic recommend that you do this, that you obtain a free copy of your credit report from each agency once year, and then go over them.
The reason to go over them is because recent surveys have shown that up to one out of three credit reports contains errors or misleading information.
Who’s Responsible for the Information?
It’s important that you understand that neither of the top 3 credit reporting bureaus are legally responsible for the validity of the information contained in your report, nor are they responsible for repairing it.
They simply document it as it comes in and if there is something that’s inaccurate in the information the data they receive it’s up to you to seek out it.
What Can You Do About Mistakes
The good news here is that the top 3 credit reporting bureaus are well aware that mistakes regarding the information they process are common.
So in response, each one has a very straightforward system for eliminating false or misleading information and all you have to do is contact them and they will provide you with the information that you need to begin this process.
A Few Final Words:
You must provide documented proof that false information on your credit report is indeed false before any of the top 3 credit reporting bureaus will remove it.
Negative information that is truthful on the other hand can’t be removed and this particularly holds true when it comes to a bankruptcy.
For More Information : free credit reports from all 3 bureaus