credit report

Check your credit report online

You can check your credit online which is a fast and convenient way to see if your name has not been blacklisted. If you have been under a lot of financial pressure and have missed a few payments here and there then it’s a good idea to check your credit and ensure that you name is in the clear. If you find that you are blacklisted then it will affect your opportunities in getting any additional credit in the future.

The creditor that you owe money to has the right to report your default payment to the bureaus thereby making your ability to access credit very slim. So it’s always good to know your financial credit standing.

The credit bureaus will put your name on the blacklist once they establish that you have not been paying your creditors as stipulated to you according to the credit agreement. Should your name land up on the blacklist it will be because your credit score is negative and the bureaus had no choice but to blacklist you so that you are no longer in the position of taking out credit. This can pose as a serious problem for you especially if you need to borrow money urgently.

Clearing your name should be an important priority to you. You will need to sit down and have a look at the lifestyle that you have created and ask yourself some serious questions. Can you afford to keep living that lifestyle? Are you managing your money well? Which areas are you overspending in? How can you limit your monthly spending? These are tough questions to ask yourself but they are needed so that you can have a clear understanding of where you are struggling financially and how to instil financial discipline in those areas.

When you are serious about getting back on your feet you may consider things like cutting down on eating out, packing lunches instead of eating at restaurants on your lunch break, cut down on going out every weekend and you may want to consider moving into a more affordable home if you can do so. There are a lot of things that you can do to make sure that you have enough money to pay all of your creditors on time and in time you can resume the lifestyle that you had if you can avoid taking out a lot of credit.

When you receive your credit record you need to check all of the details and make sure that you are not blacklisted for an amount that was due over 3 years ago. This amount is not legal because it falls under bad debts in the creditors books and the creditor gets a tax break from that amount. You have the legal right to overturn your blacklisted status without having to pay that amount. So this is why you need to check your credit history on a regular basis. Know where you stand so that you are not taken for a ride with creditors that abuse their power over you.
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