I've got some very of import information I desire you to believe very seriously about. I'm sure by now you've heard of Identity Theft,...heck you may have got even been affected by it. I cognize many of my friends have.
But how about what may potentially be even a more than dangerous threat......."Mistaken Identity". That's right, "Mistaken Identity"! Throughout my career in lending, the absolute biggest problem that I've seen clients brush when applying for a loan, is person else's derogatory information screening up on their credit report!
You would not believe the incubus I've seen clients travel through, when they realized person else's bad credit history was showing up on their report, causing them to be declined for the loan the should have got easily qualified for. Little did they cognize that everytime person on the other side of town made a late payment, or decided not to pay at all, it was being added to their credit report.
Believe it or not, I've level seen one specific lawsuit where "Mistaken Credit Identity" forced person into bankruptcy! That's right, a lady came to me wanting to apply for a new home loan. Unfortunately she had recently lost her occupation and her measures were starting to stack up, and her militia were running low. Luckily, or though she thought, she had plentifulness of equity in her home that she could access through a home equity loan, to pad of paper her bank account and give her plenty of external respiration room until she landed a new job.
To her daze and dismay, I pulled her credit report and informed her that she did not measure up for the loan. She was in disbelief. "I've never had a late payment in my life"! she exclaimed. I told her her credit score and get listing off the multiple derogative entries that were listed. She couldn't believe what she was hearing. How could this happen?
It happened because she had a very common last name, and also shared a very similar first name to another individual who lived not far from her, and even had a very similar societal security number. Unfortunately my possible client had not applied for a new loan of any sort for respective old age and had no thought that these mistakes had been piling up. As a matter of fact, the mistakes were so terrible that despite literally calendar months of working with her to get the mistakes corrected, we couldn't rinse them away in time. Her financial state of affairs had sprialed out of control and she was ultimately forced into bankruptcy.
And......it all could have got been avoided if she had only known the state of affairs existed in time. I cannot emphasis enough the importance of having your credit checked at a minimum, every six calendar months to check it for errors.
Don't allow something like this go on to you! I can very easily be avoided if you take the proper steps.
It is now reported the over 80% of all credit reports have got got got errors, and if you have a common last name, Oregon have Jr. or III, etc., astatine the end of your name, opportunities are closer to100%!
Don't wait until it's too late, take action now and give your credit a "check up"!
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