Jun 10 2013
Whether you are seeking financial advice or looking to elevate your credit status, getting a credit report is your starting point. But does it cost. Well sure someone will pay for the credit report but you can get it free from a service provider. They usually will pay for it, provide it free to you then offer you a service that you will need to pay for it, however, this is usually for your benefit.
There is no doubt that a credit report is the source of your credit health, which affects your financial wellbeing, today and tomorrow. If you are a credit-active consumer, getting your free credit report means that you can take control of your credit reputation by owning your credit report and future. Your free credit report remains your passport to credit, so manage it and protect it well.
Your free credit report will tell you, amongst other things, who has been checking up on you. What accounts you have and how they are being managed. Whether there are trace alerts, adverse or judgements against you and most important of all – what your credit profile and score looks like.
You can get these in South Africa, where the information is shared between the major credit bureaus; Transunion (The old ITC), Experien and XDS (the new kid on the block). The data remains basically the same but it seems like Transunion own at least 70% of the credit data.
You can improve your credit view with some easy steps and these include paying your accounts on time, checking and updating your information with the credit bureaus regularly and keeping your credit clean.
Most importantly, is start today? If you have more debt than you can manage a debt counsellor can help you lower your instalments or debt and even cancel a credit agreement if there was reckless lending by a creditor. Debt Counselling can lower your interest rates or extend the term of your loan while still maintaining your standard of living.
If you have a judgement and need legal advice remember – anyone can rescind a judgment and have their credit reputation repaired with the right professional legal help. A lawyer can give you sound professional advice on how to this, but you will need a lawyer to apply for the rescission of judgment, or administration order.
With this information at your fingertips the decision is simple:
Are you credit worthy or not – and that is why you need to start at the beginning.
So if you would like to sign up for your FREE credit report go to Wizard Midrand - http://www.wizardmidrand.com/home-loans/nca/credit-checks.html