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Do you know your credit situation? There are many people that go to get a loan or another type of financing and they have absolutely no clue what their credit looks like. They have never seen it and do not understand why they have been turned down for a loan or other type of financing. This is something that you should never let happen to you especially since you can get an absolutely free credit report once a year. Here is what you need to know. First, you need to make sure there are no mistakes on your credit that are costing you points. If you find mistakes you can dispute those mistakes through the credit bureau by writing them a letter. This will force the creditor to either correct the error or not respond and if they do not respond that debt comes off your credit anyway. This is a great way to make sure you have the best chance of getting the financing you are after. Second, understand your credit gives you a leg up when you go in for a loan. They are going to base your loan amount and terms on your credit and your income primarily. Knowing that you have a specific credit score will help you know what type of lender you are going to need and why type of interest rate you will most likely qualify for. This is very helpful so that you know what to expect when trying to get a loan. Last, getting an absolutely free credit report once a year will help you know if someone has stolen your identity. If there are debts that are not yours on your credit, then you probably had a case of stolen identity and you need to get to work on getting it taken care of. This will involve the police, FBI, and other organizations you probably do not want to deal with. You are better off checking your credit once every 3 months to make sure you are still in good shape. Find out how to get your Free Credit Report and make it a Absolutely Free Credit Report. Go here for more info: Absolutely Free Credit Report - What it Can Do For You
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