You’ve been hearing it for years, and it is absolutely true: it is crucial that you monitor your credit report.
Everyone should keep an eye on their credit report. This is true even if you are not having financial struggles. It is not uncommon for information to be misreported on credit reports. Also, it isn’t just mistakes or misreporting to be concerned about. Monitoring your credit report is a way to detect fraud and identity theft.
You Are Entitled to A Free Credit Report
You are entitled to a free credit report every year from each of the three credit reporting agencies: Equifax, Experian, and TransUnion.
You can request all three at once, or you can choose to order throughout the year. We recommend ordering one every four months. This gives you the chance to constantly monitor your credit report for mistakes and identity theft.
Order A Free Credit Report
Order your free credit report online from AnnaulCreditReport.com. Ordering from this site helps ensure a secure transaction. AnnualCreditReport.com is the only authorized source by federal law for free credit reports.
To order your credit report you must verify your identity by providing your name, address, social security number, and birth date.
Dispute Inaccurate Information
Credit reporting agencies have a legal duty to accurately report information and keep the information up-to-date. These duties arise under the federal Fair Credit Reporting Act (FCRA).
You have the right to dispute inaccurate, incomplete, or outdated information, or other mistakes or misreporting on your credit reports from Equifax, Experian, or TransUnion. The credit reporting agency must investigate your dispute and they must delete inaccurate, incomplete, or unverifiable information within 30-days.
The Federal Trade Commission (FTC) offers step-by-step instructions for disputing inaccurate information here. The FTC also offers a sample dispute letter you can use here.
Checking Your Credit Score
You have the right to request your credit score, but there is no right to a free one. If you want to see your credit score, you’ll have to pay for it.
Currently, some credit cards and banks offer free credit score monitoring. Contact your lenders’ or banking institutions’ customer service to see if any of them offer this free service.
Click here to read Credit Score FAQ’s from the Federal Trade Commission!
The information contained in your credit report dictates your credit score, and your credit score determines your credit-worthiness. To ensure that your credit score is as high as possible, make sure that the information on your credit report is accurate. The higher your credit score, the more likely it is that you’ll be able to secure loans and lines of credit with favorable terms and low interest rates.
Considering bankruptcy but worried about your credit score? Read our article How Long is Bankruptcy On My Credit Report?
All of us here at the Law Office of Barbara B. Braziel are here to help you end your financial struggle and gain financial freedom. We offer free consultations. Contact us at (912) 351-9000 today!
We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.
