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  Credit Report Disaster Through
         Mistaken Identity



           SafeSpaceOnline
SafeSpaceOnline




 I've got some very important info I want you to think
very seriously about. I'm sure by now you've heard of
     Identity Theft,...heck you may have even been
    affected by it. I know many of my friends have.



                     But how about what may potentially be even a
                     more dangerous threat......."Mistaken Identity".
                     That's right, "Mistaken Identity"! Throughout
                     my career in lending, the absolute biggest
                     problem that I've seen clients encounter when
                     applying for a loan, is someone else's
                     derogatory information showing up on their
                     credit report!
SafeSpaceOnline




 You would not believe the
  nightmare I've seen clients go
  through, when they realized
  someone else's bad credit history
  was showing up on their report,
  causing them to be declined for the
  loan the should have easily
  qualified for. Little did they know
  that every time someone on the
  other side of town made a late
  payment, or decided not to pay at
  all, another black mark was being
  added to their credit report! It will
 apply to all the other slides.
SafeSpaceOnline




 Believe it or not, I've even seen
  one specific case where "Mistaken
  Credit Identity" forced someone
  into bankruptcy! That's right, a
  lady came to me wanting to apply
  for a new home loan.
  Unfortunately she had recently lost
  her job, her bills were starting to
  pile up, and her reserves were
  running low. Luckily, or though she
  thought, she had plenty of equity
  in her home that she could access
  through a home equity loan, to pad
  her bank account and give her
  plenty of breathing room until she
  landed a new job.
SafeSpaceOnline




 To her shock and dismay, I pulled
  her credit report and informed her
  that she did not qualify for the
  loan. She was in disbelief. "I've
  never had a late payment in my
  life"! she exclaimed. I told her her
  credit score and began listing off
  the multiple derogatory entries
  that were listed. She couldn't
  believe what she was hearing. How
  could this happen?
SafeSpaceOnline




 It happened because she had a very
  common last name, and also shared a
  very similar first name to another
  individual who lived not far from her,
  and even had a very similar social
  security number. Unfortunately my
  potential client had not applied for a
  new loan of any kind for several years
  and had no idea that these errors had
  been piling up. As a matter of fact, the
  errors were so severe that despite
  literally months of working with her
  to get the errors corrected, we
  couldn't wash them away in time. Her
  financial situation had spiraled out of
  control and she was ultimately forced
  into bankruptcy.
SafeSpaceOnline




 And......it all could have been avoided if she had
  only known the situation existed in time. I
  cannot stress enough the importance of having
  your credit checked at a minimum, every six
  months to check it for errors.
  Don't let something like this happen to you! I
  can very easily be avoided if you take the proper
  steps.
  It is now reported the over 80% of all credit
  reports have errors, and if you have a common
  last name, or have Jr. or III, etc., at the end of
  your name, chances are closer to100%!
  Don't wait until it's too late, take action now and
  give your credit a "check up"!

 By: Don Bethune
LOGO




       SafeSpaceOnline.com

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Credit report disaster through mistaken identity

  • 1. LOGO Credit Report Disaster Through Mistaken Identity SafeSpaceOnline
  • 2. SafeSpaceOnline I've got some very important info I want you to think very seriously about. I'm sure by now you've heard of Identity Theft,...heck you may have even been affected by it. I know many of my friends have. But how about what may potentially be even a more dangerous threat......."Mistaken Identity". That's right, "Mistaken Identity"! Throughout my career in lending, the absolute biggest problem that I've seen clients encounter when applying for a loan, is someone else's derogatory information showing up on their credit report!
  • 3. SafeSpaceOnline  You would not believe the nightmare I've seen clients go through, when they realized someone else's bad credit history was showing up on their report, causing them to be declined for the loan the should have easily qualified for. Little did they know that every time someone on the other side of town made a late payment, or decided not to pay at all, another black mark was being added to their credit report! It will apply to all the other slides.
  • 4. SafeSpaceOnline  Believe it or not, I've even seen one specific case where "Mistaken Credit Identity" forced someone into bankruptcy! That's right, a lady came to me wanting to apply for a new home loan. Unfortunately she had recently lost her job, her bills were starting to pile up, and her reserves were running low. Luckily, or though she thought, she had plenty of equity in her home that she could access through a home equity loan, to pad her bank account and give her plenty of breathing room until she landed a new job.
  • 5. SafeSpaceOnline  To her shock and dismay, I pulled her credit report and informed her that she did not qualify for the loan. She was in disbelief. "I've never had a late payment in my life"! she exclaimed. I told her her credit score and began listing off the multiple derogatory entries that were listed. She couldn't believe what she was hearing. How could this happen?
  • 6. SafeSpaceOnline  It happened because she had a very common last name, and also shared a very similar first name to another individual who lived not far from her, and even had a very similar social security number. Unfortunately my potential client had not applied for a new loan of any kind for several years and had no idea that these errors had been piling up. As a matter of fact, the errors were so severe that despite literally months of working with her to get the errors corrected, we couldn't wash them away in time. Her financial situation had spiraled out of control and she was ultimately forced into bankruptcy.
  • 7. SafeSpaceOnline  And......it all could have been avoided if she had only known the situation existed in time. I cannot stress enough the importance of having your credit checked at a minimum, every six months to check it for errors. Don't let something like this happen to you! I can very easily be avoided if you take the proper steps. It is now reported the over 80% of all credit reports have errors, and if you have a common last name, or have Jr. or III, etc., at the end of your name, chances are closer to100%! Don't wait until it's too late, take action now and give your credit a "check up"!  By: Don Bethune
  • 8. LOGO SafeSpaceOnline.com