Free Credit Reports
by Jason Gluckman
It's scary to know how much information is available on a credit report and the impact it has on your daily life. Your credit report is often sold to credit agencies, employers, landlords and many others. Identity theft makes your credit report all the more vulnerable.
The Fair Credit Reporting Act ensures that Equifax, Experian and TransUnion, -- the three consumer reporting companies -- provide you free copies of your credit report. To get a free credit copy, all you have to do contact the centralized website www.annualcreditreport.com, or call the toll free number 1-877-322-8228. You can also complete the Annual Credit Report Request Form and send it to P.O. Box 105281, Atlanta, GA 3048-5281. This is available to print at www.ftc.gov/credit. You could also ask for individual copies from the consumer reporting companies. But do remember that these companies only give specific details concerning their own findings in their reports.
There are many important reasons to take advantage of a free credit report offer. First of all, it will keep identity thieves at bay. These are people who misuse your social security or credit card number for illegal purposes. They could be making huge purchases that you have no knowledge of. This misuse could show up on your credit report, affecting your credit and insurance rating or even your job.
If you request for your report on the web site, you should get it immediately. In case you have mailed the request, or asked for it over the phone, it will take about 15 days. However if there is big queue of requests or there is need to verify a detail, it could more time. If there are errors you are protected by the FCRA. The consumer reporting companies are required by law to correct the errors. Details about your bankruptcy can be kept for 10 years, a lawsuit or an unpaid judgment can be kept for 7 years or until the state of limitation has run out. Criminal convictions can be kept indefinitely.
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