Credit Bureaus and Credit Reports
Credit Bureaus and Credit Reports:
Your credit payment history is recorded in a file known as a credit report or credit profile. These credit reports are maintained and sold by credit reporting agencies (CRAs), commonly known as credit bureaus, such as Equifax, TransUnion and Experian (formerly TRW). If you have ever applied for a credit or charge account, a personal loan, insurance, or a job, you would have a credit record on file. Your credit record may contain information about your debts and credit payment history. It also may indicate whether judgments have been entered against you, or whether you have filed for bankruptcy. Only credit grantors make credit decisions, not credit reporting agencies.
Your Credit History and Ratings:
A good credit rating is very important. Businesses and financial institutions inspect your credit history when they evaluate your applications for credit, insurance, employment, and even leases. Based on your credit payment history, companies can choose to grant or deny you credit provided you receive fair and equal treatment. Sometimes, things happen that can cause credit problems: a temporary loss of income, an illness, even a computer error. Solving credit problems may take time and patience, but it doesn't have to be an ordeal.
The Fair Credit Reporting Act:
The Fair Credit Reporting Act (FCRA) requires CRAs to furnish correct and complete information for businesses to use when evaluating your application.
Your rights under the FCRA include the following:
Remember, if you have been denied credit, you are entitled to
a free credit report. Effective October 1997, if you are a victim of identity fraud, you are
entitled by Federal law to a free annual credit report.
It normally takes about ten working days to receive your credit report. If you want to reveiw
your file now, you can obtain your report by use of the internet. We have found that the
following company can provide you with a report within thirty (30) seconds from all three
credit bureaus if needed.
It normally takes about ten working days to receive your credit report. If you want to reveiw your file now, you can obtain your report by use of the internet. We have found that the following company can provide you with a report within thirty (30) seconds from all three credit bureaus if needed.
Free Annual Credit Report:
The Federal Trade Commission provides an excellent report on how to obtain your free annual credit report. The report is titled "How to Access to Free Credit Reports."
http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htmTo order your free annual report - You can now request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, TransUnion and Experian.
You can also request your report by phone or mail. Monitoring and periodically reviewing your credit report is an effective tool in fighting identity theft.
WHAT IF IT HAPPENS TO ME? Identity theft is a multi-faceted problem that is unlikely to go away. If you should become a victim, you will need to take action quickly: Follow the following suggestions will get you started in the right direction.
If you are or have been a victim of identity theft and you are unable to write checks or you have been denied credit due to the fraudulent misuse of your name and social security number, contact this office at once. We have been able to assist many victims in resolving this criminal matter.
National Check Fraud Center
|Write Us||National Check Fraud Center
811 Canary Drive
Charleston, S. C. 29414
For additional information on what to do, who to contact, where to report, etc., go to our web site IDENTITY FRAUD.