Q: How long do bankruptcies stay on credit reports?
A: Declaring bankruptcy makes a long lasting impact on credit reports. When a Chapter 7 bankruptcy is filed, most, if not all, debts are voided. This type of bankruptcy can stay on your report for up to 10 years. However, Chapter 13 bankruptcy, in which the debtor must repay some or all of the debt through a court-approved payment plan, remains on your credit report for 7 years.

Q: Can an employer get a copy of your credit report without your permission?
A: The Fair Credit Reporting Act (FCRA) restricts access to your credit file for your privacy. A prospective employer can only get a copy of your credit report if you give your permission.

Credit bureaus: The Big Three
There are three major national credit bureaus that compete with each other to cover consumer credit information: Equifax, Experian and TransUnion. These credit bureaus compile and distribute the following consumer credit information:

* Account balances
* Payment habits
* Credit history
* Length of employment
* Previous employers
* Personal information
* Current and previous addresses
* Bankruptcies
* And more…

The three credit bureaus are independent of each other and do not share information. Therefore, the personal financial information contained in one of your credit bureau files may not appear in another. A potential lender can pull credit information from any one of the three credit bureaus. Many national banks and lending institutions report credit information to all three credit bureaus, but other credit grantors and smaller banks may report to only one or even none. Therefore, a single credit report could be missing some of your important financial information.

On the other hand, a 3-in-1 credit report provides your complete credit history as reported by all three credit bureaus: Equifax, Experian and TransUnion. In a 3-in-1 credit report, you can view a list of all your credit accounts line-by-line, bureau-by-bureau, allowing you to see how each of the individual national credit reports are reporting your accounts, as well as which credit grantors have recently reviewed the credit report. Obtaining a 3-in-1 credit report leaves nothing to the imagination—you see all the accounts and financial history a potential lender will see.

3-in-1 credit report: Safety in numbers
According to a study done by U.S. PIRG, up to 70 percent of credit reports contain errors of some kind. By getting a 3-in-1 credit report, you can review all your financial information for potential errors and inconsistencies, ensuring that no incorrect information goes unnoticed. And false information on a credit report can be one of the first signs of ID theft, so the sooner you catch an error with a 3-in-1 credit report, the faster it can be corrected.

A credit report is most effective when it provides a complete review of your credit history and presents all details of your credit exactly how potential lenders will see it, with nothing omitted. A 3-in-1 credit report gives you the peace of mind of knowing that you have seen every single piece of your financial history. With a 3-in-1 credit report, you can view everything potential lenders can see, and you can review your credit report for any false financial information and stop a potential identity thief in his or her tracks.

Stop wondering where your credit history stands. Click here to get your complete 3-in-1 credit report now!