It is so important to be aware of your finances. With the high tech world that we live in it is so very easy to have another person affect you credit rating. Identity theft and use of personal information off the internet does not always just happen to other people, we are all at risk.
My niece and her husband were married for three years. They had purchased a home and were thinking about getting a second vehicle. My niece decided that she would get personal credit reports before trying to finance a vehicle, so they could secure the best loan. When they received their personal credit reports back her husband had several outstanding debts that had been incurred since they bought their home. There were two credit cards taken out in his name. Both cards had charges to the maximum level and also cash advances had been taken out. No payments had been made.
My niece and her husband contacted the credit card companies to check out the information that was in the personal credit reports. The credit card applications had been made on the internet and my niece’s husband’s information was used to fill them out. The credit card companies assigned a fraud investigator to the case. He discovered that someone had accessed my niece’s husband’s personal information by hacking into the bank records that carried the loan information. The thief did not access their accounts, but rather took their personal information to apply for credit cards. It took several months but the credit rating was finally restored.
My niece and her husband are both business professionals that try to be very careful about letting their personal information get out. They are very glad that they decided to get personal credit reports so that they discovered that someone was using their identity to steal. They now have personal credit reports completed twice a year to be safe. They are using a reputable company that secures their information. Their bank agreed to pay for the personal credit reports for two years. This seems only fair since it was the bank’s system that was breached. It is scary to think that a few strokes on a key board can wipe you out financially. It is important to use a company that has a good reputation to have your credit rating completed. There are many companies that advertise that they will do your credit rating for free, but they are just trying to get your personal information.
