Credit Consolidation With Your Credit Report All of us in the financial industry use the word Credit very

generously. It can in dicate the time for delayed payments for the purchases made, loan grant as well as the creation of a debt. We have a credit report that indicates the financial status as well as is an important document to procure loans and insurances. Main taining a good credit history is very important for any financial transaction. What Is A Credit Report? A credit report is a document that contains financial information about the orga nization or the company. You have information in it about the individual s name, a ge, nationality, marital status, date of birth, number of family members, income proof, identity proof, office address, bill payment and due dates, public recor d information etc. You also need to supply information regarding your employment details, duration of job or business as well as income details to make the repo rt. The report also holds the credit history of the individual. Credit history is the section of the report which determines many factors for yo u. When you apply for a loan, your credit history is checked and studied by the lender. If you have a good history, you have the power to negotiate for good rat es, terms as well as the repayment schedules. When your credit history is not ve ry sound, you lose this power of negotiation. You need to accept the high rates of interest offered as well as the rigid terms. These restrictions are imposed b y the lender or the company as they are at a risk when they lend their money. Th ey combat their risk by offering such high rates. The credit history gives you a complete picture of your expenses, payments made, and your experiences with the different credit lenders. The credit report also has statements relating to public record such as civil su its, bankruptcy, legal proceedings of the court etc. The only thing missing in a credit report is medical records and arrest record details. There are special agencies which compile all the above information for the compa nies and organizations and generate a report for them. The report gives the indi vidual a valid document to apply for a loan, insurance, employment and other leg ally permitted purposes. It is thus, quite important to update the reports as an d when required and also maintain accurate information about the individual. You can call the report as a ticket to leading a good life. Many financial institut ions review the credit reports every three years. Any changes or modifications i n your personal details should be immediately notified to the concerned departme nt and updated. By doing a review, you can check the accuracy of the report and omit the unwanted information. If you are able to review the report every year, it will be benefiting. Credit consolidation is done more effectively with a credit report. Check your r eport to review your finances and thereby bring a positive change in your financ ial status.