I don't recognize accounts appearing on my credit report?

If you notice unfamiliar liabilities on your Credit Sesame “My Debt” page, it may be due to common account types that appear on your credit report but aren’t always recognized immediately.

Collection Accounts

Collection accounts often appear under the name of the collection agency, which may be unfamiliar. Collection agencies purchase unpaid debts and report them to the credit bureaus. You may recognize the original debt if you look up the original creditor name on your full credit report.

• Accessing Your Credit Report: You are entitled to one free credit report per year at annualcreditreport.com. You can also purchase a copy from your Credit Sesame account via the “My Credit Report” page.

Co-Signed Liabilities

Co-signed accounts will appear on your credit report because, as a co-signer, you are legally responsible for repayment even if someone else is making the payments.

Authorized User Accounts

Authorized user accounts are those where someone adds you to their credit card. While you can use the card, you are not responsible for repayment. However, the account may still appear on your credit report, which can impact your credit history and score.

Key Takeaway

Unfamiliar liabilities on your credit report often have a logical explanation. Reviewing your full credit report regularly can help you identify the original creditor, co-signed debts, and authorized user accounts, ensuring you stay informed about all accounts affecting your credit.