![]() Free Credit ReportsFair Credit Reporting Act (FCRA) AmendedYour Access to Free Credit ReportsThe Federal Trade Commission (FTC) reports: A credit report contains information on where you live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home. There are three nationwide consumer reporting companies Equifax, Experian, and Trans Union. In recent months, consumers have asked the FTC for more details about their rights under the federal FCRA and the Fair
and Accurate Credit Transactions (FACT) Act, which established the free credit report program. They've also asked
about credit reports in general. Here are the most frequently asked questions and the answers. Q: How do I order my free report? A: The three nationwide consumer reporting companies have set up one central website, toll-free telephone number, and mailing address through which you can order your free annual report. To order, click on www.annualcreditreport.com, call 877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The form can be printed from www.ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually. They are only providing free annual credit reports through www.annualcreditreport.com, 877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order from only one or two. The law allows you to order one free copy from each of the nationwide consumer reporting companies every 12 months. Q: What information do I have to provide to get my free report? A: You need to provide your name, address, Social Security number, and date of birth. If you have moved in the last two years, you may have to provide your previous address. To maintain the security of your file, each nationwide consumer reporting company may ask you for some information that only you would know, like the amount of your monthly mortgage payment. Each company may ask you for different information because the information each has in your file may come from different sources. www.annualcreditreport.com is the only authorized source for your free annual credit report from the three nationwide consumer reporting companies. www.annualcreditreport.com and the nationwide consumer reporting companies will not send you an email asking for your personal information. If you get an email or see a pop-up ad claiming it's from www.annualcreditreport.com or any of the three nationwide consumer reporting companies, do not reply or click on any link in the message it's probably a scam. Forward any email that claims to be from www.annualcreditreport.com or any of three consumer reporting companies to the FTC's database of deceptive spam at help@identity-theft-help.us. www.annualcreditreport.com or any of three consumer reporting companies also will not call you to ask for your personal information. Q: Why would I want to get a copy of my credit report? A: You may want to review your credit report:
Q: How long does it take to get my report after I order it? A: If you request your report online at www.annualcreditreport.com, you should be able to access it immediately. Q: Are there any other situations where I might be eligible for a free report? A: Under federal law, you're entitled to a free report if a company takes adverse action against
you, such as denying your application for
credit, insurance, or employment, and you
ask for your report within 60 days of receiving
notice of the action. The notice will give
you the name, address, and phone number of
the consumer reporting company. You're also
entitled to one free report a year if you're
unemployed and plan to look for a job within
60 days; if you're on welfare; or if your
report is inaccurate because of fraud, including
identity theft. Otherwise, a consumer reporting
company may charge you up to $9.50 for another
copy of your report within a 12-month period.
Q: Should I order a report from each of the three nationwide consumer reporting companies? A: It's up to you. Because nationwide consumer reporting companies get their information from different sources, the information in your report from one company may not reflect all, or the same, information in your reports from the other two companies. That's not to say that the information in any of your reports is necessarily inaccurate; it just may be different. Q: Should I order my reports from all three of the nationwide consumer reporting companies at the same time? A: You may order one, two, or all three reports at the same time, or you may stagger your requests. It's your choice. Some financial advisors say staggering your requests during a 12-month period may be a good way to keep an eye on the accuracy and completeness of the information in your reports. Q: What if I find errors either inaccuracies or incomplete information in my credit report? A: Under the Fair Credit Reporting Act, both the consumer reporting company and the information provider
(that is, the person, company, or organization that provides information about you to a consumer reporting company)
are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your
rights under this law, contact the consumer reporting company and the information provider.
Q: What can I do if the consumer reporting company or information provider won't correct the information I dispute? A: If an investigation doesn't resolve your dispute with the consumer reporting company, you can ask that a statement of
the dispute be included in your file and in future reports. You also can ask the consumer reporting company to provide your
statement to anyone who received a copy of your report in the recent past. You can expect to pay a fee for this service. Q: How long can a consumer reporting company report negative information? A: A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. There is no time limit on reporting information about criminal convictions; information reported in response to your application for a job that pays more than $75,000 a year; and information reported because you've applied for more than $150,000 worth of credit or life insurance. Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. Q: Who else can get a copy of my credit report? A: The Fair Credit Reporting Act specifies who can access your credit report. Creditors, insurers, employers, and other businesses that use the information in your report to evaluate your applications for credit, insurance, employment, or renting a home are among those that have a legal right to access your report. Q: Can my employer get my credit report? A: Your employer can get a copy of your credit report only if you agree. A consumer reporting company may not provide information about you to your employer, or to a prospective employer, without your written consent. The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. You may be interested in examining the following sites that discuss this subject: Identity theft victim? Here's how to cope.
Copyright © 2001-2022 Robert Sherman
|