You might be surprised to see what type of information is included on your credit report.
You will have the expected personal information such as your name, address and date of birth as well as any of your past addresses.
All of your past and present employers will also be recorded on your report.
Other information will be available such as your social insurance numbers and, naturally, everything relating to any financial transactions that you have entered into.
Every loan that you have ever had will be recorded along with the amount of the loans and the dates that they were opened.
It will include not only your current loans but also any loans that you have had in the past.
There will be notes that detail any late payments or defaults of loan repayments.
The amount of credit for each loan will be recorded and details of whom the lenders are.
Details of any bankruptcies, taxes unpaid or outstanding, and any problems with collection agencies will all be documented. This type of information is what will affect your credit score and make it hard for you to get credit.
Foreclosure and civil lawsuits, child support payments that haven’t been made, and any loan defaults will all be available for anyone to see when they do an inquiry.
You will even be able to see who has made an inquiry as that will be recorded on your report as well.
This information will remain for two years and any lender will be able to see when you have tried to get credit from looking at this information as it records the times you apply for loans.
Too many of these won’t look good on your credit report.
There is a lot of information on these reports and all of it is important so you should be diligent when checking to see that everything is totally accurate and get anything that isn’t correct fixed as soon as possible.
Even information such as previous employment needs to be accurate as prospective employers can sometimes use this information when deciding on your employment and that could affect your income earning potential and ultimately debt repayment.
Leave no stone unturned as they all matter when it comes to your credit records.
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