Every accounting client needs a copy of their recent free credit report for a few reasons. These reasons can make or break them if they are trying to buy a house or other large ticket items.
Knowing Your Debt to Income Ratio
Your credit report can be crucial when it comes to knowing what you owe and seeing where you are in outstanding debt. The report can be your guide to help you start paying off the bills. Getting your debt lowered is very important, so you can buy a car or even a home.
Protecting Your Credit Identity
Another reason why having your recent credit report in front of you is fraud and identity theft. People steal other people’s identities because the economy is so bad. Therefore if you have good credit, you are at risk for someone trying to steal your credit. It is always a good idea to know where you stand.
Your accountant will be able to advise you on how to handle any credit problems and if there is fraud involved, you will know about it and be able to put a stop to it was well. You will save your credit that way.
