The recession of the last years increased the number of people recorded in the credit bureau, which now are refused by banks when they want a new credit.
The Credit Bureau records the information transmitted by all the participants to the system, about credit cards, personal loans, mortgages and payday loans, making those available for any person or institution that has the right to check those details.
Whenever you require a new credit from a financial institution, the bank would check the credit rating agencies,in order to determine your eligibility for the respective credit facility. Yes, there is an office somewhere that knows everything about your banking credits, delays in payments, credit rating agencies and financial problems, and you should know that you have the right to check your situation also. It is not only a right, it is mandatory, as it will not hurt to know how you look in the eyes of the banks.
Where can I get a free credit report?
Any person has the right to check his financial situation at least once a year at no cost. The three major credit rating agencies or bureaus are Equifax, Experian and Trans Union, and all those have different records about you. Why is it required for three offices of this type to exist? Because the ways of bureaucracy are unknown to us, and because everything has to be complicated. Even if the system is burdening and annoying for the common client, we will have to live with it if we want to live with the banks. In any case, you have the right of a free interrogation with those three credit rating agencies once a year.
All you need to do is to contact those agencies on their websites, and to ask for your situation. You will have to give them some documents, to prove that you are the legitimate person to ask for that situation. After all, we are talking about delicate financial situations that must not fall in the hands of some people.
Another method to get a free credit report is to talk with the special credit advisers. Those are independent companies that would advice you on getting the best credit, even if you have a bad financial situation. Those companies could get your credit report with those rating agencies, but be aware that those will charge you for their services.
Where can I get a free credit report the second time in a year?
It is impossible, because you need to pay for the next interrogations, but you can make others pay for you! When you apply for a credit at a bank, the respective bank will interrogate the credit bureaus. Even if you are rejected for the credit, you might ask for the respective situation from your bank. They are not obliged to give it to you, but in case you are rejected for a credit, the Credit History is to blame, so you have the right to some explanations. If you can’t get a credit, at least you have the right to know why, right?