| Do
you write checks so rubbery that that you could use
them as sneakers? Do you have problems paying off your student loan and
they repossessed your education? Is your wallet so full of plastic it could
be used as a floatation device?
If the answer
to any of these questions is yes, you need to check out your credit reports.
If the answer
to all of these questions is no, you STILL need to check out your credit
reports. Everyone should check one of their credit reports every year.
It is important to know what is on there and correct any errors.
About one quarter
of all credit reports contain some errors. Some of them are minor and others
are major.
Correcting even
simple errors can take a couple of months to work out. So if you know you're
going to be applying for a loan in the next four months, it is good to
repair any damage now. Although the credit companies say clearing up errors
will take anywhere from two weeks to two months, four months is a healthy
safety margin.
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