Maxxed Out: The Vital Question of Checking Your Credit Report
In a world where financial stress can be overwhelming, it's easy to overlook one of the most critical steps in getting back on track: checking your credit report. But for those struggling with debt and instability, this simple task can make all the difference.The Importance of Checking Your Credit Report
According to a recent episode of OWN's 'Maxxed Out' series, financial expert Leah Collins emphasizes the importance of knowing your credit score and regularly reviewing your credit report. This is not just about avoiding overdraft fees and missed payments; it's about protecting your identity and preventing further financial damage.
The Process of Checking Your Credit Report
Collins takes a client through the process of visiting AnnualCreditReport.com, the federally authorized site that allows consumers to review their credit reports for free. She stresses the importance of checking your report line by line, monitoring your credit score, reviewing open accounts, and flagging any unfamiliar activity that could indicate identity theft.
The Disproportionate Impact of Identity Theft
Unfortunately, people already dealing with debt, instability, or limited financial access are disproportionately affected by identity theft. Collins highlights the need for vigilance in this area, especially when it comes to reviewing credit reports and monitoring credit scores.
In conclusion, checking your credit report is a vital step in getting financially unstuck. By knowing your credit score and regularly reviewing your credit report, you can protect yourself from identity theft and prevent further financial damage. Tune in to 'Maxxed Out' on Saturdays at 9pm ET/8pm CT on OWN to learn more about this critical aspect of personal finance.
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