What is a credit check? It is a process used by lenders to evaluate your credit history. It gives them access to your payment history, credit card payments, and other financial transactions. It allows lenders to assess the risk of lending you money. Your report can show if you have been late with payments on previous loans. If you have made too many late payments or have overdrawn an account, your report could show this.

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A credit check shows whether or not you have had any financial difficulties. Bankruptcies and County Court judgments stay on your credit history for six years. It will also show whether you took out joint mortgages. If you do, you can request that the other person be financially disassociated from you. To do this, you need the other person’s consent and proof that you’ve paid off the debt. A credit report is a public record that shows everything about you, including any outstanding debts. For advice from Know your Customer, visit a site like W2, providers of Know your Customer credit services.

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Credit checks also show whether you have had any financial issues in the past. Your credit report will also reveal what outstanding debt you still have. It is always a good idea to check your credit report to be sure that it doesn’t contain any errors.