May 26

Have You Discovered Any Previously Hidden Or Unknown Information On A Credit Report?

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It’s important to keep an eye on your credit report.

It’s easy to get one; many financial institutions are offering them to individuals at no extra charge.

A client’s daughter was curious as to her father’s credit report and credit score.

Through their Capital One Business account we were able to access their credit score which was high, but upon reviewing the Credit report we noticed there were a few outstanding loans that no one was aware of.

💸I knew that my client wasn’t repaying any loans because we manage his bill paying.

💸Upon further examination, it turned out that he took out a few loans as a cosigner for a nephew, who was paying the loans on a timely basis.

💸As a cosigner, he would be held responsible if his nephew were to stop repaying the loan on a timely basis.

💸Now that we have clarity on this situation we can move ahead to make sure there are no financial repercussions in the future.

Have you discovered any previously hidden or unknown information on a credit report?
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Email peter@nyfo.nyc to schedule a discovery call.


Tags

credit scores, elder law attorney, finances, financial planning, money, money tips, personal finance tips, retirement, senior resources


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