Credit Reports Galore - denied free experian equifax

Abhishek Agarwal asked:


Did you know that you can get a free credit report? Your credit report is the document that records all your credit transactions. It is what finance companies, banks and credit card companies use to judge whether you are a good risk. If you’ve had difficulty getting a loan or a credit card it may be because you have a bad credit report.

What is the point of knowing your credit report you may ask. If you can’t get credit what can you do about it?

Well there’s plenty you can do. Getting your free credit report can really help you turn the situation around. It is a way of taking control of your financial affairs. This is the starting point to improving your record score so that you can get loans.

When you get your credit report you can make sure that no one has stolen your identity and is running up bad debts in your name. This was one of the main reasons the legislation was brought in. The problem of identity theft is a serious one. The Fair And Accurate Credit TRansactions Act was passed in December 2003 specifically to prevent identity theft.

The FACT Act as it is known allows US citizens to see their credit report once a year. They can check it for accuracy and have mistakes changed.

There are three credit reporting companies: Experian, Equifax, and TransUnion. You can get a free report from any one of them. They are all similar but areproduced by slightly different methods.

You can go to the website of one these companies and apply for a free credit report. They can be found at www.experian.com, www.equifax.com, or www.transunion.com. Alternatively, you can visit www.annualcreditreport.com or www.freecreditreport.com. Follow the instructions to get your credit report.

They will check your identity by asking a few personal questions just as your bank would. But the process is not difficult. If you find no problems then there is probably no need to get the other reports. If you find problems then it is worth paying to see the others and correcting the mistakes.

Information that was once kept secret from consumers is now freely available. This is a resource and you should make use of it. It will help you to keep a good credit score and keep your finances in order. Since this legislation came into force checking your credit report has become one of the basic tasks of personal financial management.

You may not have had your identity stolen. The bad credit score may be all your own work. But once you know what the damage is you can set about putting it right. The worst thing you can do when the debts start piling up is to hide your head in the sand.



HOWARD

Rayven Perkins asked:


There are multiple credit myths and rumors that surround the realm of credit reporting. Some are urban legend, and have become so widely disseminated that they are taken as gospel; others are deliberately encouraged by lenders to terrorize or cajole debtors into compliance.

The following is a compilation of the most common credit myths concerning your credit file, and the reality that all consumers should be aware of.

Myth: Credit reporting companies are subsidiaries for or working on behalf of the federal government.

This belief is fostered by the fact that creditors make such a big deal about “registering” you as a debtor with a credit reporting agency that the power of the agency itself becomes inflated. In fact, credit reporting companies are nothing more than mega businesses and their true subsidizers are the banks and finance companies.

Myth: If you pay a bad debt, the negative report will automatically be removed from your credit immediately.

This is a tactic used by unethical bill collectors to get you to pay your debt, and 9 times out of 10 it is a flat out lie. You can occasionally make an agreement with a creditor to pay a debt on the condition that it be removed or marked paid as agreed, but this should always be in writing, and they must put in writing that they will contact the credit reporting agency, request the update, and follow through until it is done.

Myth: You have to sign up for a credit monitoring service to get a free credit report.

This one is just ridiculous, and has been picked up by hundreds of companies trying to sell “credit protection” packages. They offer you a free credit report through their website and then sign you up for a monthly automatic charge for an overpriced, basically useless “credit alert” program that you can duplicate simply by taking reasonable precautions. Don’t be fooled. You are entitled by law to a no strings attached, once a year, completely free report from each of the three major credit reporting companies.

Myth: Trying to get stuff removed from your credit report is illegal.

Again, this is just not true. There are illegal and unethical ways to tamper with your report, but many people have incorrect or outdated items on their report and it is perfectly legal to try to have those removed or updated. The steps to accomplish this are easy, and you can do it yourself so don’t waste money on a “credit repair” company that claims it can restore your credit for a huge fee.

Myth: Credit Reporting agencies are required by law to keep negative items on your report for at least seven years.

Actually, the Fair Debt laws state that after 7 years credit reporting companies are required to remove adverse reports - and nowhere does it say that these can’t be taken off earlier. The credit reporting agencies perpetuate this myth themselves so people will not ask them to remove stuff.

Myth: Credit reporting agencies strive to keep accurate reports.

In what alternate universe? Again, a credit reporting agency is not an agent of the government, and has little interest in helping anyone out or motivation to be accurate. They are in business to make money, and they make it from the lenders.

They have a vested interest in reporting whatever the creditors tell them because the creditors pay them to, and they double dip by selling this personal and private (and often inaccurate) information to other lenders and agencies as well. They have no vested interest in removing items, or in helping you at all.

Now that you know what credit myths to watch out for, you can take steps to review your credit and begin to correct any discrepancies. Unfortunately, credit reporting agencies do hold a lot of power over the average American citizen, and it falls to you personally to make sure that you are not being taken advantage of or wrongfully portrayed.



OMAR

Anna Josephs asked:


Looking for a free yearly credit report? Many companies are selling credit repair secrets, credit repair “kits” and other information about credit issues because everyone wants good credit, many people have bad credit and most people do not know whom shall they contact and where to go for more information if they need help.

Credit report copy can be obtained from any or all of the three national credit reporting agencies that gather the information. If your installment debts consist entirely of amounts owed to large lenders—major credit card companies, banks, automobile manufacturers’ finance companies—chances are you only need to obtain a report from a single agency.

If you want a quick check of your credit report and score from just one of the three national credit bureaus you can get it but if you owe money or have recently paid off credit obligations to smaller creditors you should obtain credit reports from all three companies. The reason, said Storm, is that “creditors pay money to the reporting agencies to list your credit information. Most large companies report to all three agencies, but smaller companies may only report to one or two of them.”

One of the credit repair secrets that companies are selling is information about obtaining your credit report. You are entitled to a yearly free copy of your credit report. If you want to attempt to repair credit issues, obtaining your credit report is the first step.

It is a good idea to review the information on your credit reports on a regular basis even if you have excellent credit. A recent law has made it easier. You can view and print copies of your credit.

Anna Josephs is a freelance journalist having experience of many years writing articles and news releases on various topics such as pet health, automobile and social issues. She also has great interest in poetry and paintings, hence she likes to write on these subjects as well. Currently writing for this website Free Yearly Credit Report

. For more details please contact at annajosephs@gmail.com



BRET

Mike Clover asked:


What is in a credit report? A credit report is a snapshot of your current obligations to creditors. These creditors include credit card companies, mortgage companies, banks, and retail stores. Lenders are permitted by law to check your credit report and review it in order to determine whether or not to grant credit to you. In order to build a credit report all you have to do is establish credit in the form of a bank loan, credit card account, car loan, mortgage, or studen loan. Information on your credit report comes directly from your history with accounts you currently have outstanding loans with. Whether you pay your obligations on time or not, lenders will report that information to the credit bureaus. There are four categories.

1. Your personal information: Your credit report identifies you will the following information.

” Your name

” Social Security number

” Current address ” Previous address

” Birth date

” Current employer and previous employers

” Phone number

2. Your credit history: Your credit history will show your payment history with current lenders such as:

” Credit Card companies

” Mortgage companies

” Retail stores

” Finance companies

3. Inquiries: This is where lenders are finance companies have requested your credit report. The rule of thumb is the less inquiries the better.

4. Public Records: Your credit report lists any obligations that may affect your credit including the following:

” Judgments

” Tax Liens

” Bankruptcies

Credit Reports are now available to any organization that is trying to grant you credit, or a company considering hiring you. Your personal credit report is so important during this day and age that you need to have a current copy to see what they are seeing. Even landlords are pulling credit in order to grant you permission to rent from them. With all this in mind, it is highly recommended that you have recent copy of your credit report, so that you are aware whats being reported in regards to your personal credit history. Most of the companies that provide credit reports, dont understand credit, they just sell you a credit report.There are also websites that offer a credit report for Free but fail to mention that you will not get a free credit score. Make sure when you obtain a copy of your credit report it comes with all 3 reports and score. It makes no sense to get copy of your credit report without your scores since creditors look heavily at your credit scores. Remember “your Credit is your Life.”



ERNIE