Intro to Credit Report Laws

Many people are looking for a free copy their credit report but are denied. A variety of other issues pertaining to viewing and analyzing these documents may cause stress for people as well.

The problem is that most people do not fully understand the rights they have according to current credit report laws (I.E. the Fair Credit Reporting Act). Here is a brief summary of your rights:

You are entitled to up to three free credit reports a year from all three credit bureaus (depending upon the situation). You can request your records from Experian, Equifax, and TransUnion. The easiest way to do this is to ask for them all at the same time.

You have the right to receive credit monitoring services. This helps you keep track of any errors and it helps you spot them faster so they can be taken care of immediately.

You can have fraud alerts placed on your files. You can also dispute errors that are present in your records. This often is necessary in the event of identity theft.

You have the right to find out who is sending you bills for charges that are not your responsibility. This can be done by sending a letter requesting verification of a creditor or collection agency.

You have the right to find out why you were denied financing, insurance, cell phone service, shelter, etc. You can usually obtain a free copy of your credit report in cases like this.

Additional Tips

Credit report laws are there to protect you. However, you also need to be able to protect yourself. It could mean the difference between a bad or great financial future.

For instance, when credit monitoring services, use a secure server. This is the best way to prevent from having your identity stolen. If the website does not display any privacy policy also watch out.

One way to know is if you see signs that it is verified. This can be done by seeking a valid IP address. You an also verify the domain in various “Whois” lookup directories. You can also verity existence of a legitimate business by searching the Better Business Bureau website.

Furthermore, it helps to find out who owns the companies who charges for credit reports. This should give you with some idea as to whether or not the services are necessary, so necessary you would be happy to invest money.

Free Credit Report