Understanding Your Credit Report

A person’s credit report can be a blessing or curse, but for a stunning number of people it remains a mystery which of those categories his or her status falls into. While it is natural to experience a degree of anxiety about the prospective contents of your credit report, particularly if you have encountered periods of financial difficulty or have missed or late payments, burying your head in the sand will not help you to improve the situation.

Once you take the step to obtain your credit report, understanding the information that it contains is essential so that you can address any discrepancies, suspected fraud, or take the appropriate steps to begin resolving problematic elements of your report. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C., at 480-829-0494 to learn how you can effectively manage the competing portions of a complicated debt load.

Your Important Credit Data

Credit reports are intended to function as highly detailed snapshots of an individual’s financial and employment history. The information that they contain provides valuable insight for a number of different parties, including prospective employers, landlords, car dealers, mortgage companies, and other lending institutions. As such, it can be expected to recount a range of data including but not limited to:

• Identifying information – name, current and past addresses, Social Security number, employer, spouse’s name, etc.
• Credit history – includes names of creditors, account numbers, date of origin, type of credit account, all named persons on the account, limit or loan amount, outstanding balance, payment amount, account status, and a qualitative evaluation of your payment history
• Public records – any judgments, liens, or bankruptcies associated with your debts
• Inquiries – documents the parties who have previously asked to review your credit report

Contact Us

We are committed to helping you conquer your credit fears and to start fresh. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C., at 480-829-0494.