Credit: Know where your creditworthiness stands

Monitoring your credit is an important part of maintaining creditworthiness.

Some might notice that the current times place less value on items and practices that were once deemed critical. A lot of things that were meaningful to us some years ago may no longer seem as important, and can include some basic amenities such as homes, cars, collections, etc. But there is something that is still important and has a value that is meaningful to quite a few Americans: their credit or creditworthiness.

If you decide that those basic amenities are still important to you and your family, your credit can affect your access to them; you might struggle to be approved for the loan of the home you want; it could affect your ability to lease the car you want to drive; in  some cases, your credit can even affect the job you might be seeking. Credit requires some attention and monitoring. What happens when mistakes are made in the reporting of one’s credit? How do you deal with identity theft? What is your level of personal responsibility?

Be attentive in the credit lines you open and remember to monitor them at least every six months. If there is anything that is on your credit report that shouldn’t be, find out who is reporting it and dispute it with them first. Next, contact the credit bureaus and discuss and dispute it with them. If the credit bureaus still continue to report false information, file a complaint with the Federal Trades Commission (FTC) or the Attorney General Office for your state.

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