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Wisconsin residents reminded to keep track of their credit score
Shepherd Best of Milwaukee 2013

When you make the decision to file for bankruptcy protection, you probably start planning on ways you can rebuild your credit. In some cases, once the bankruptcy is discharged, you can implement your plan. For some people, however, rebuilding their credit is difficult for reasons that are beyond their control.

According to the Better Business Bureau, four out of five people in Wisconsin don't keep track of their credit score. When you don't check your credit report on a regular basis, you might not be aware of errors on the report. When these errors are allowed to remain on your credit report, your credit score can be negatively impacted.

A low credit score can affect several areas of your life. If you have a low credit score, you might have difficulty obtaining loans. In some cases, you might be required to pay more for insurance and other recurring bills. You might even be denied a bank account. Since some employers are checking credit scores now, errors on your report could cost you a job.

If you find errors on your credit report, you should dispute them. Unless you dispute the errors, they aren't likely to be found. This is because no proof of a debt is required for that debt to be placed on your credit report.

Keeping track of your credit report is a good idea for anyone, even someone who is planning on filing for bankruptcy. Your credit report has information that might remind you of debts you need to claim when you file for bankruptcy protection. If you are unsure of how to file for protection under the bankruptcy codes, an experienced professional can help you learn what you need to know, such as whether you should file for Chapter 7 or Chapter 13 protection.

Source: CBS 58, "Credit report errors costing consumers big bucks" Diane Moca, Jan. 29, 2014

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