An important aspect of qualifying for an auto loan, even with troubled credit, is your credit score. One of the best ways an applicant can prepare for the process is to go over their report and ensure that everything listed is correct. Any number of things can work against you, which is why everyone always recommends a look over before making any major financial decisions. Be on the lookout for anything that doesn’t match up with your own records. If you see something wrong, get it taken care of. Another thing to be aware of if you see something unfamiliar on your credit report is that you may be a victim of identity theft.
TransUnion has some tips to help make sure you can avoid being a victim. There are certain signs in your report that may point to fraud. Here’s what you need to keep an eye out for:
- If you see any accounts, payment histories, addresses, inquires, or Social Security Numbers that you don’t recognize.
- If an unknown creditor tells you they got an application with your name and Social Security on it that you were unaware of.
- If you’re getting calls or letters informing you of being approved or denied for credit but never applied.
- If you have gotten credit card, utility, or telephone statements that are in your name but you never applied.
- If you notice that your mail, including credit card statements, is not always being delivered to you.
- If there are credit card purchases you don’t recognize.
- If a collection agency contacts you about collecting on an account you never opened.
These are all important signs that someone has gotten ahold of your information and are using it for malicious purposes. Make sure you are aware so that you can work to protect yourself. Don’t let a thief drag down your credit and along with it the ability to apply for credit.
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