You may want to consider doing a thorough check on your credit report if you havent done it for a while. You might be surprised at how inaccurate and out-of-date many of these reports really are. If youre like me, though, you assume that everything is okay until you get denied a loan or apply for a credit card that gets turned down. Then, you know something must be wrong and finally take the initiative to investigate the matter.
I finally took the leap and evaluated my own credit report after I was initially declined a loan. I was shocked by the things I found on that report. They listed debts I had paid off over a decade ago and still listed them as being unpaid. I never knew these debts were still on my report and I was furious with the companies that were happy to take my money but didnt bother to update my records, making my credit report look bad.
I discovered that, even though I had made payments on time and the debts were clear, these parts of my report were ruining my chances of getting the loan I wanted because it looked as though I still had longstanding unpaid debts. The loan companies use my credit report to evaluate my application and to determine my...