When it comes to personal finances and budgeting most South Africans are in the dark. Do you always wonder where your salary went? With spring fast approaching it’s time to spring clean your finances and get a fresh start. DebtBusters is giving you an opportunity to have a new look at your financial fitness. You have no excuse to give your finances a blind eye. It all starts with a credit check. Have you seen your credit report? Get your credit report today, it will give you a better understanding of all your accounts and your financial position in terms of your debt. Know your credit score and find out if you have been blacklisted by anybody, don’t wait until it’s too late. DebtBusters has partnered with Kudough; South Africa’s leading credit report aggregator and credit monitoring provider to help you understand, monitor and improve your credit status. You might ask yourself why you need to know your credit score, a credit report gives you more than just your credit score. Listed below are the importance of reviewing your credit report regularly to avoid surprises. Review your credit report regularly:
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- to ensure no one is trying to open new accounts in your name
- for any errors that can impact your score
- to help you protect yourself against identity theft
- to set goals and to improve your credit score, always aim to have a high credit score
Now that you know the importance of reviewing your credit report it is essential to understand the document. The credit report is broken up into sections namely; personal information, accounts summary, enquiries and adverse information. Accounts summary is one of the most important sections on the credit report as it states the name of the different creditors, when debt was taken and the payment patterns on the different accounts. This section shows you how well you manage your debt. If this section is not looking good DebtBusters is there to help you every step of the way. Do not wait until it’s too late, take full control of your finances and gain your financial fitness through debt counselling.