Q. How do I secure my free credit report each year? On the Internet there are many options that have a cost?
A. Your credit report is very important when it comes to your financial security. Follow these rules and suggestions to acquiring your report each year.
Checking Your Credit Report: Consumers are entitled to a free copy of their credit report each year from each of the credit reporting agencies. The following will help you understand what is in your credit report, how to access it, and what to do if you find errors.
The Fair Credit Reporting Act: Federal law originally passed in 1970 regulates the collection, dissemination and use of consumer information, including consumer credit information. Along with the Fair Debt Collection Practices Act, it forms the base of consumer credit rights in the United States. It is enforced by the U.S. Federal Trade Commission and was amended in 2003 to enable consumers to receive one free credit report per year.
What information does your credit report contain? Information on where you live, how you pay your bills and whether you’ve been sued or have filed for bankruptcy. It is basically a report card of what debts you have had and how you pay them back.