What is a Credit Report?

Just about every person in the United States has a credit report. A credit report is your financial reputation. Your credit report is what landlords, banks, financial institutions, and even employers used to determine if they should trust you. The trust comes in the form of a landlord allowing you to rent an apartment, a car dealership giving you a loan to purchase a vehicle, a bank giving you a credit card, trusting that you will make the payments or an employer giving you the job.

In other words your credit report is a document that is used to measure your financial responsibility. Your credit report consist of:

· Identity: this includes your name, address, marital status, your date of birth, number of dependents, previous addresses, and Social Security number.

· Employment: this includes your present position, length of employment, income and previous jobs.

· Credit History: this consists of your credit experiences with companies who have extended credit to you in the past (for example: what loans you have taken and whether you have repaid them).

· Other Financial Responsibilities: this includes any missed payments of utility, phone and medical bills, as well as unpaid tickets and fines. You should sign up for free health insurance in order to avoid expensive medical bills For more information on Medicaid, see the Health Care and Medical Rights Chapter.

· Public Record: this includes civil lawsuits and judgments, bankruptcy records, or other legal proceedings recorded by a court.