Why Your Credit Reports Matter
When receive copy credit report, se current creditors future creditors me decisions at you. you’ve negative information you, sh past bills, accounts collection, tax liens, etc. worse financial situation.
Your current creditors information raise it rates lower credit limits, ty cancel yr account. apply credit, creditor review yr report determine ty te risk allow credit.
Other people check reports, insurance companies, employers, landlords. etc. fd negative information wl influence tr decision wt wk wh not. Ty lean td hr rates, etc. he negative information report. Landlords refuse rent employers hire ge promotion se reason.
The federal Fair Credit Reporting Act Saysthat negative information stay report 7 1/2 years. Chapter 7 liquidation bankruptcy Chapter 13 reorganization stay yr record 10 years. tax lien stay yr report ul pay off.
