Why You Should Obtain A Free Credit Report
Even with the recent news stories of identity theft, there are still individuals who prefer not to obtain a free credit report. Amazing but true. Most people do not feel that they are in danger, that identity theft occurs only to other people. I can tell you that many people have a nasty wake up call. Your annual credit report gives you the opportunity to ensure that your credit report is correct and that no one has applied for credit in your name or your social security number.
Thanks to new legislation, which recently came into force, you can now get your annual credit report from all three agencies free of charge. The three major credit reporting agencies that you can get your credit report are Equifax, Experian and TransUnion. To do this, simply contact the agency in writing, and then you have to ask them for acces to your free annual credit report. Alternatively, online at their web sites with such a request.
You can not overlook the importance of taking time to obtain a free credit report. Your credit rating is based solely on information in your credit report, and a bad figure could keep you in the financing of a house or new car.
If you simply obtain a free credit report you can tell if somebody has tried to steal your identity. Even if you know you have bad credit, it is still a good idea to request annual credit report. Although companies do what they can verify the identity, identity thieves there who know their way around the verification process.
Once you get your annual credit report, you need to take time to consider each of them and verify information. Your credit report will tell you all of the credit accounts that you have open, regardless of whether you have a late payment history. there's also details of recent history of any decisions have been made against you, and your address and employment history.
If there are accounts or judgments that you do not recognize in your annual report, you need to contact credit reporting agencies as soon as possible. Include details of all the suspicious transactions on your report. All these signs of identity theft.
Although this process is not pleasant at the time, at least you will be glad that you made the effort to obtain a free credit report. Browsing your annual credit report can not stop identity theft, but it gives you one of the most powerful tools that you need to stop it quickly, if your identity is stolen.