|
Getting
Your Credit Report
How
To Obtain A Copy Of Your Credit File
What
is a Credit Reporting Agency? It's an organization, usually
profit-driven, devoted to collecting and reporting credit information
to subscribers - mostly area businesses, banks, etc. Think of
it as a clearinghouse for information about your personal credit
history and debt repayment practices. The major firms cover
all fifty states. These agencies are highly computerized and
have millions of files and millions of subscribers -mostly businesses
- paying a monthly fee for this information reporting service
All bureaus DO NOT contain the same data or necessarily all
of your credit history.
What
is a Credit Bureau? It's a smaller version of a credit reporting
agency. Credit Bureaus usually operate within a single state
and often cover only one county. Others cover a multi-county
area. Some also offer collection services in addition to background
reports for potential employers etc.
What
is a credit rating and where does it come from? It is the rating
given to an individual or business - by a previous lender -
as a credit risk, based on past records of debt repayment, financial
statements, employment and current financial status. Credit
reporting agencies do not rate your credit, only those merchants
who extend credit (to you) do the rating.
How
do I locate credit bureaus and credit reporting agencies in
my area? First check the yellow pages of a local telephone book
under Credit Reporting Agencies. If there is more than one listed,
chances are you have more than one credit file.
How
do I obtain a copy of my credit file from each agency?
Call each one listed and ask for the consumer services department.
Inquire about your credit file. They may ask you some personal
information such as your social security number, mothers maiden
name, etc. in order to access the proper file. If they have
a file on you, ask how you go about obtaining a copy. It takes
a written request and there is a service fee of up to $8 depending
on where you live.
NOTE:
Anyone denied credit based on information contained in a credit
file must be notified says the Fair Credit Reporting Act. The
company which denied you credit will tell you from what agency
they obtained your credit report and how you can obtain a copy
- free of charge if you request one within a reasonable time
after receiving the denial letter. Send a copy of the denial
letter with the request.
What
is the next step? In about ten days after you request it, your
credit file's will come by return mail. It will include instructions
on how to read it and it will contain an explanation of all
the symbols and abbreviations used in the report.
To
receive a copy of your credit report, contact any of the three
national credit bureaus listed below. All report are available
for a nominal fee, or if you have been denied credit within
60 days because of information in your report.
Experian (formerly TRW)
http://www.experian.com
PO Box 2002
Allen, TX 75013-2002
888-397-3742
Fees: $8-$9 or may be stipulated by state law
Equifax Credit Information Services
http://www.equifax.com
PO Box 105873
Atlanta, GA 30348
800-685-1111
Fees: $8-$9 or may be stipulated by state law
Trans Union
http://www.transunion.com
Consumer Relations Center
PO Box 1000
Chester, PA 19022
800-888-4213 OR 440-779-7200
Fees: $8-$9 or may be stipulated by state law
The three national credit bureaus offer a toll-free number enabling
consumers to "opt out" of pre approved credit offers
with just one phone call. 1-888-5-OPTOUT (888-567-8688).
Sign up for a FREE, no obligation consultation
|
Find
valuable consumer information on TCCF's 
