Staying on top of your very personal credit situation is a critical component of any kind of recovery effort. Many times in my conversations with my clients, it is often revealed they have no idea what is happening with their credit files. It’s daunting to live your life every day and make an appointment to see the dentist, a medical professional, your kids school teacher, and even your Tax Advisor; but have no idea what is going on with your credit files! In today’s article, I will outline 5 reasons to monitor your credit situation and those that have access to your information.
Your ability to stay off any foul play, misuse or representation based on illegal access to your personal credit information can only be further progressed if you bother to manage your credit files to begin with. Waiting until your car breaks down is a terrible time to discover you need to buy a new one and learn after an application for a loan has been submitted that you can only buy an older car and not a one based on your credit score. What a way to find out, your credit is in the toilet! So, reason #1 is monitoring your credit files and scores.
1. A credit file monitoring service like Credit Check Total or Score Watch are great programs as they send you an email when someone access your credit files to review almost immediately if not within 24 hours. Know sooner than later what is likely to impact a critical decision that involves your credit scores. The other benefit some companies actually provide insurance to help you restore problems when there has been some kind of breach involving large companies.
2. Identity Theft is simply the ugliest thing that ever reared its head with life changing
consequences. It happens in such a way that people spend years cleaning it up and restoring order to their lives. I have personally used a website called, http://www.idwatchdog.com/. They have some amazing services where it will often be revealed the source of the abuser. I found the person who used my information on their website!
3. Unintentional merging of family files can sometimes reveal problems that are in fact not your because you shared a residence with someone and their debt landed on your credit files. Perhaps your named after someone and you need to know if issues arise in your name and identification.
4. Job hunting is harder now than ever because credit is used to lock out or even create a cloud of confusion that is not helpful when you are recovering from a hardship and old debts could not be paid. Potential employers are sometimes unforgiving and forget in these times, your credit may be a target and used to judge you moving forward.
5. Moving and change of addresses is the last reason you want to manage your credit files. This is important because the access that someone can get from your old mail about your lifestyle, interests and activies is revealed in mail that is delivered to you. Moving can lead to access to your information when a change a address is not recorded by the post office. Be mindful of this. It’s important to know what you behind when you leave a residence.
I hope you find this article very helpful. Please leave a comment and let us know how we can help you more. Cheers to a smarter 2015!