How To Find Free Credit Reports
December 15, 2009 6:03 pm Online PromotionCredit reports have been around almost as long as credit cards. They do have some good points, and they certainly have some bad. They are notorious for making mistakes and for years, until laws changed, they were impossible to deal with as we tried to get errors corrected.
So many mistakes and inaccuracies occurred that consumers were outraged. Credit bureaus just took it for granted that whatever was sent to them was correct, and in many cases it wasn't. Compounding these problems was the fact that the credit bureaus made their own mistakes, and sometimes many mistakes. There were no laws or broad regulations as to how information was reported, and it wasn't easy for consumers to see what was on their reports.
The past five to ten years has seen some remarkable consumer protection laws passed as they relate to the credit reporting process, and all three credit bureaus now must follow strict guidelines as they relate to responding to consumer requests and complaints about the information in their credit files.
One new law states that everyone can have one free credit report a year. The internet is rife with offers for free credit reports, but when you check them out, you only get your free report after paying for a membership with their service. Your free credit report - the one dictated by law - can only be had after you request it in writing from the credit bureaus.
One problem is that there are three major agencies, and they don't have the same information. This can be troublesome if you apply for credit and that company uses one of the agencies that has the wrong information - and you're denied.
If you do find things on your credit report that are wrong, you have the right to get them corrected. Some companies allow these changes to made online if you have a paid membership. Others force you to write letters with substantiating documentation.
Getting problems fixed can be time consuming and frustrating, which is why it's important to be vigilant in monitoring your credit report for each reporting agency, even if you need to pay for a membership to have constant and immediate access to it.
About the Author:
If you have bad credit, it's not easy. If you need to clean up your credit, there's only one thing to do. Get some credit repair and get fix your credit worries. Learn how now!