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Debt Relief If you have bad credit it may be because of your name
Debt Relief If you have bad credit it may be because of your name
If you have bad credit it may be because of your name
Many of us are so busy running the rat race called life that in some cases we without any bad intentions land up in financial problems. This could be something as simple as a doctor’s account that was not paid by the medical aid. Then on top of that having a familiar name may create problems with your credit rating at the banks. With all the John and Jane Smiths in the world, a simple mix-up can get an honest John Smith mistaken for a fiscally irresponsible one. Take these precautions if you have a name that’s common:
Always include your full first name and middle initial on credit applications. The more complete your name, the better your chances that it won’t get mixed up with another person with a similar name. Be sure to use the Jr. or Sr. designation if you have one.
Be consistent. All your credit cards should have the same exact name. If one has John Davis, another has John J. Davis, and yet another Jack Davis, mistakes can crop up more easily.
Write clearly on all documents. Be sure your name is completely legible to anyone who might read an application. If you don’t, your “J” initial can appear as an “I” to an application processor.
Correct errors right away. And be persistent. Contact creditors directly. The last thing you want to do is argue with a collection agency over a bill that isn’t yours.
So the bottom line is to take care of your own credit and credit rating because no one else will. The better your credit record is with banks and other financial institutions the easier you can make life for yourself.
Always include your full first name and middle initial on credit applications. The more complete your name, the better your chances that it won’t get mixed up with another person with a similar name. Be sure to use the Jr. or Sr. designation if you have one.
Be consistent. All your credit cards should have the same exact name. If one has John Davis, another has John J. Davis, and yet another Jack Davis, mistakes can crop up more easily.
Write clearly on all documents. Be sure your name is completely legible to anyone who might read an application. If you don’t, your “J” initial can appear as an “I” to an application processor.
Correct errors right away. And be persistent. Contact creditors directly. The last thing you want to do is argue with a collection agency over a bill that isn’t yours.
So the bottom line is to take care of your own credit and credit rating because no one else will. The better your credit record is with banks and other financial institutions the easier you can make life for yourself.