Credit Reports for Dummies (cont.)
Contributed by Kristy George
Public Records on Your Credit Report
It is best that this section of your credit report remains blank. This section ruins your credit quicker than any other. Here it lists financial devastating information such as repo's, bankruptcies and judgments. These types of comments are usually removed after seven years. So the rule applies to this section, less is more.
Inquiries
Finally there is a section at the bottom of your credit report that lists inquiries. Anytime anyone pulls your credit report for any reason it is logged here. Reasons for pulling credit reports can range from applying for a new credit card to a company inquiring for collection purposes. Collections personnel can obtain your report to try and find current contact information for you as well as see who you are paying.
Credit Report Mistakes
If mistakes are found on your credit report you need to report them immediately. Report them to your credit bureau as well as the creditor. The creditor usually has about 30 days to contact you about the dispute. While settling the matter it will show that the charge is being disputed on your credit report. Mistakes happen often so be sure to check your report at least once a year to ensure your credit is safe.
