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Now's the time to check your credit score
You normally tell your clients to check their credit scores, right? Well, now's the time for you to do that, too.
With applications for loan options, agents' personal information is being sent to many different places, increasing the chances of it ending up in the wrong place.
As we've noted in this previous article, cybercriminals are taking advantage of the uncertainty surrounding COVID-19, so it's important to make sure reporting by credit reporting agencies is accurate to ensure you're not a victim of identity fraud.
To help combat the potential for foul play, the three major credit reporting agencies, Equifax, Experian and TransUnion, are offering free weekly credit reports to consumers through April 2021.
To access the free reports, go to AnnualCreditReport.com. The reports from this site do not reflect your credit score, but will report both open and closed accounts, payment history and balances. In order to view and print your reports, you will need to supply your name, birth date and social security number. Remember to use a secure device and connection when visiting the site.
It is important to check the following on your credit report:
- Make sure that your name, your employer and your address are correctly reported.
- Make sure that all accounts listed are in fact yours.
- Make sure your payment history for the last 24 months is reported accurately.
- Make sure any businesses listed in the inquiries section are businesses that you currently have credit with or business that you have attempted to get credit from. You may also see inquiries from insurance companies or property management companies.
- Make sure you check to see if any negative information reported is outside of the credit reporting time limit. Generally negative information such as late payments and collections can only be listed for seven years. Bankruptcy can be listed for up to ten years.
If you discover incorrect information on your credit report, you will need to contact the credit reporting agency directly to file a dispute to have addressed.
Stay safe!
