Other Credit Report Info

This week we've been discussing credit scores. Today, I will share some information on how to obtain a free credit report on you and how to correct any errors that you may find.

The three major credit bureaus - Equifax, Experian, and TransUnion, run a website www.AnnualCreditReport.com. This entitles every American to request a free credit report within a 12 month period. This report is normally without credit scores, which can be included for an additional fee. You can also request one by phone by calling 1-877-322-8228, or by mail after downloading the request form and mailing it to the address below. The request will take 2-3 weeks for delivery.

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

You will need to provide your name, address, Social Security number, and date of birth. If you have moved in the last two years, you may have to provide your previous address. To maintain the security of your file, each credit bureau company may ask you for some information that only you would know, like the amount of your monthly mortgage payment. Each company may ask you for different information because the information each has in your file may come from different sources.

If you happen to find an error on your report, you should get it corrected as soon as possible. Why is this necessary? Because your credit report contains information about where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. The credit bureaus sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home. As stated in earlier posts, this can prevent you from obtaining credit or getting unfavorable terms or interest rates when getting a loan.

It is also important to review your credit report periodically to prevent identity theft. Identity thieves may use your information to open a new credit card account in your name. Then, when they don’t pay the bills, the delinquent account is reported on your credit report. Inaccurate information like that could affect your ability to get credit, insurance, or even a job.

To dispute an error, write a letter by certified mail with "return receipt requested" to the credit bureau so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures. State to the credit bureau what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled.

The credit reporting companies must investigate the items in question, usually within 30 days. After completing the investigation, the consumer reporting company must give you the results in writing and a free copy of your report if the dispute results in a change. This free report does not count as your annual free report. If you ask, the consumer reporting company must send notices of any corrections to anyone who received your report in the past six months. You can also have a corrected copy of your report sent to anyone who received a copy during the past two years for employment purposes.

The second step is to notify the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute.

Not that I am looking for a gift, but I am looking for what may be credited to your account. Phillipians 4:17 (NIV)

If you have comments or questions, you can contact me at the address below.
Email: DeltaInspire@panama-vo.com