11 Mar Why You Should Clear Your Name from ITC ASAP

Getting clearance from ITC (now Transunion) is a big deal. You’ll get to enjoy enhanced access to credit, better employment prospects, and of course, peace of mind. That’s because your credit score is sort of like a CV– if you have no experience or a history of being fired, it’s unlikely that you’ll be hired, right? The same goes for your credit report: a history of judgments, defaults, and unpaid severely damage your reputation in the credit industry, and can stop you from being able to take out revolving credit, loans, and even insurance. So, let’s discuss exactly why you should get your name cleared with ITC.

The reasons why you should clear your name from ITC

ITC is now known as Transunion, one of the world’s largest credit bureaus. As you know, credit bureaus are responsible for telling banks, insurers, and even employers about your history with paying back money you’ve lent. Credit bureaus are huge gossips– they won’t hold back when it’s time to disclose whether you’re terrible at repaying debt. This is why you must work on your credit reputation: if you don’t, those ugly default and judgment marks will be displayed for every creditor. And as any debt collector will tell you: creditors don’t forget.

Securing Loans and Credit

If you have a bad credit record, securing loans and credit can be expensive, if not downright impossible. Information like defaults, judgments, and prescribed debt can make it difficult to get anything from a mortgage to a cellphone contract. Clearing your credit score can make it that much easier to get your foot in the revolving credit door once more.

Renting an Apartment

Some landlords painstakingly vet their tenants right down to their credit. Having bad credit could lead to a higher security deposit or even rejection. Even utility services might your credit score before setting up services.

Interest Rates and Insurance Costs

Did you know that your credit report can impact the premiums you’re offered on policies? A good credit score saves you money in the long run by protecting you from high premiums.

How to clear your name from ITC

Cape Town Legal Consultants can help you with credit clearance. Get in touch with us today for a consultant to guide you through the process and get you back on your financial feet.