What Information Is On My Credit Profile?
If you are thinking about a large financial investment like a house or a car, chances are you have looked into the borrowing process and requirements for securing a loan.
As part of the process, lenders will have a look through your credit history as a factor in determining whether or not they will grant you a loan, as well as your borrowing capacity.
While this is a common occurrence, many people are unaware of what kind of information is on their credit profile.
Whether you are seeking a loan now or in the future, it is important to note that a credit file is kept for any person who has been credit-active - borrowed money - over the past seven years.
This file contains personal details such as your name, residential addresses, date of birth, driver’s licence number and current or previous employer as well as credit applications and enquiries you have made during the past five years.
It also contains records of some current credit accounts, overdue accounts - defaults - which have been listed against your name, including an indicator on whether the default amount has been paid or not.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.
If you have applied for bankruptcy, any information pertaining to that period will be on file, as will any default judgements and public record information.