New Law Provides Access to Free Credit Reports
Periodically reviewing your credit report is important to make sure the information is accurate and to guard against identity theft. Inaccurate information could affect your ability to get a loan, insurance or even a job. If someone uses your identity to commit fraud, it could show up on your credit report. For example, if an identity thief gets a new credit card in your name and then doesn’t pay the bills, the delinquent account will be reported on your credit report.
A new federal law now gives you access to free credit reports. Once every 12 months you can request a free credit report from each of the three nationwide consumer reporting companies: Equifax, Experian, and Trans Union.
When You Can Start Ordering Your Free Credit Reports
Free credit reports under the law are being phased on the following schedule based on where you live.
Consumers in |
States |
Can order their
free reports beginning |
Western states |
Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington & Wyoming |
December 1, 2004 |
Midwestern states |
Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota & Wisconsin |
March 1, 2005 |
Southern states |
Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee & Texas |
June 1, 2005 |
Eastern states |
Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia – the District of Columbia, Puerto Rico & all U.S. territories |
September 1, 2005 |
How to Order a Free Report
The three nationwide consumer-reporting companies have set up one central service to handle report requests. There are three ways you can order your free annual credit reports from this service:
-
Online
www.annualcreditreport.com
-
Via Telephone
877-322-8228
-
Postal Mail
Completing the Annual Credit Report Request Form and mailing it to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
You can download the form from website www.annualcreditreport.com
What to Do if You Find Errors in Your Credit Report
Under the U.S. Fair Credit Reporting Act, both the consumer-reporting company and the provider of the information reported to the consumer-reporting company are responsible for correcting inaccurate information or incomplete information in your report.
If you find an error, tell the consumer-reporting company about it in writing. Also tell the creditor or other information provider in writing that you dispute an item on your report. The consumer-reporting company must investigate the error in question usually within 30 days, unless your dispute is considered frivolous.
For More Information
Source: “FTC FACTS for Consumers: Your Access to Free Credit Reports”
www.ftc.gov.
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