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Free Credit Reports From The Government
Free Reports From The Government
by: Jeffrey Strain The Federal Trade Commission (FTC) has set up a new website (www.AnnualCreditReport.com) where US residents can obtain free copies of their reports from the three major report bureaus (Equifax, TransUnion and Experian). The FTC site was set up as part of the Fair and Accurate Transactions Act enacted last December. The site was set up in an effort to help fight the increasing threat of identity theft. The reports must be ordered from the FTC site to get them for free. If you order your report directly from one of the report agencies' sites, you'll be charged a fee for the report. While a number of websites on the Internet currently offer free reports, these free reports require a card be put on file as a free trial membership of their report monitoring service. The reports have been free if you remember to cancel the trial membership, but can end up being quite costly if you accidentally forget. The new FTC site is marketing free and no card is required. To request your reports, you'll need to provide your name, address, Social Security number and date of birth. In addition, the bureaus may ask you for other information to confirm your identity such as your current monthly mortgage payment. Consumers can also order their free reports by calling 877-322-8228 (toll-free) or by mail by writing to: Annual Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281 The free reports aren't currently available to all US residents. They're being phased in over the next year by region to prevent the system from being overwhelmed. Currently residents living in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, New Mexico, Nevada, Oregon, Utah, Washington,
and Wyoming can obtain the free reports. Residents in the Midwest can get their free reports beginning in March, residents in the South beginning in June and residents in the East beginning in September.Instead of ordering reports from all three report agencies at once, you might want to consider staggering the three reports so that you receive one report every 4 months. This allows you to see how your report is changing over time and whether any mistakes you find have been corrected. It will also increases the chances that you will catch any attempts at identity theft more quickly. If, however, you're considering a large purchase such as a home or car where your score will be used to determine your eligibility, you'll want to get all three right away. This will allow you to take care of any potential problems as soon as possible. Once you've received your reports, review each one carefully. The three reporting agencies handle millions of pieces of information each year and some estimates have errors in as many as half of the reports with a major error in ever one in four. By making sure that all the information contained in the reports is accurate, you will ensure that you receive the best rates from agencies in the future. Now that reports are free of charge, there is no reason not to request them each and every year. Keeping tabs on your report is one of the most effective ways to protect yourself against identity theft and make sure that all the information that your creditors are accessing is accurate. About The Author
Jeffrey Strain is owner of http://www.savingadvice.com -- a website dedicated to saving you money through quality tips and articles. info@savingadvice.com
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