| Would FREE copies your credit report be of | | | | else's report with just a simple error such as: first |
| interest? If you are committed to repairing your | | | | name misspelled, missing Jr./Sr., erroneous |
| credit or simply want to know what is on your | | | | address, bad zip code, wrong employer, or any |
| credit report, I have good news for you. A free | | | | other incorrect personal data. |
| copy of your credit report is available to every | | | | Insure marital information is correct. Are accounts |
| consumer annually. This article discusses the free | | | | listed as "joint" really joint? |
| report as well as repairing your credit report once | | | | Is the report in compliance with court |
| you have your credit file on hand. | | | | settlements? Outdated information is normally |
| Colorado, Georgia, Maine, Massachusetts, | | | | considered to be any item older than 7 years |
| Maryland, New Jersey and Vermont always had a | | | | except for bankruptcy, which is usually 10 years. |
| right to one free report per bureau each year. | | | | Closed accounts should not be listed as open. |
| But now this same benefit is available in every | | | | Accounts you closed should reflect, "Closed by |
| state - one FREE credit report from each of the | | | | consumer". Otherwise it can be assumed that it |
| three major national credit bureaus every 12 | | | | was closed by the creditor-- not good. |
| months. | | | | Accounts should not appear twice even in |
| Additionally, consumers may be entitled to a free | | | | different sections. |
| report under certain other conditions, such as | | | | Incorrect histories such as late payments, a credit |
| having been denied credit, insurance or a job | | | | entry you do not recognize, a pre-marital debt of |
| within the past 60 days. You're also entitled to a | | | | your current spouse, or other such items need |
| free report if you think your report is inaccurate | | | | your attention. |
| due to fraud. | | | | Are there missing reports that would be beneficial |
| But under the new law, Equifax, Experian and | | | | to show a good history, and are profiles, credit |
| TransUnion have an online site where you can get | | | | limits, and balances correct? |
| a free report at Annual Credit Report. There is | | | | A former correction to your credit file that has |
| also a toll-free phone number: 877-322-8228. | | | | since disappeared should be brought to the |
| Finally you can write to P.O. Box 105281, Atlanta, | | | | agency's attention. |
| GA 30348-5281. Yahoo News suggests: "If you | | | | |
| do use the postal address, it's best to print and | | | | Final Comments: I am often asked if a collection |
| mail in a completed online request form. You can't | | | | company sells your account to another collection |
| get your report unless you answer questions on | | | | agency, can you get the first one deleted from |
| the form." There is also information available | | | | your report or will it just show as a zero balance |
| through Federal Trade Commission. | | | | Reporting depends on who owns the account |
| You can purchase additional reports and/or a | | | | there are several directions this can take: |
| credit score by contacting one of the consumer | | | | If the original creditor still owns the account but |
| credit reporting companies. | | | | assigns the debt to a collection company then |
| Equifax | | | | both get to report on that account listing. |
| Experian | | | | If the original creditor retracts the collection and |
| TransUnion | | | | re-assigns it to a new collection agency then both |
| You can also purchase a credit score when you | | | | original creditor and the 2nd collection agency can |
| request your free annual credit report through | | | | report but the first one must remove their listing |
| Annual Credit Report (referenced above.) | | | | off of the credit report. |
| You might want to note that each bureau offers | | | | If the original creditor sells the debt to a collection |
| credit ID fraud called safeguard services, but for | | | | agency then the creditor will report zero balance / |
| fees. For example TransUnion offers "ID Fraud | | | | sold to another lender, and the collection agency |
| Watch". For $10.95 each quarter, you get a credit | | | | will report. |
| report every three months and $25,000 of | | | | If that collection agency assigns a debt to another |
| identity theft insurance. | | | | collection agency then it is allowable for both to |
| Once you have your report, what do you look | | | | report the account listing, but if they take back |
| for? | | | | that account then that assigned collection agency |
| Here are some basic things you should check on | | | | must remove their reporting. |
| your report. Go through your entire report entry | | | | Now if that collection agency sells the debt to |
| by entry. Have the credit agency legend by your | | | | another collection agency they get to keep their |
| side in order to verify coding compliance. Have | | | | reporting on the report since they owned the |
| also a paper and pencil to annotate any item you | | | | account at one time, and the new collection |
| find in error. Go slowly. | | | | agency picks up on the reporting. |
| Don't assume your personal information is correct. | | | | Therefore, the difference is if your account is |
| You could be viewing information from someone | | | | "assigned" or "sold". |