Free Credit Reports Are Available, But Watch Out For Scams

 By:
Unknown to most Americans is the passage of an amendment to the Fair Credit Reporting Act (FCRA) that Congress passed into law in 2004. This change in law now allows every U.S. citizen to obtain one free copy of their credit report from each of the three main reporting agencies (Experian, Trans Union, and Equifax) once per year. In order to avoid a crush of traffic to the official free credit report Website, the plan is being rolled out in stages.

Those living in the West, Midwest and South can obtain copies of their reports now; those in the Northeast will have to wait until September 2005. Those who are seeking a copy of their free credit report should be careful, though. While there is an official Website for the free credit reports, other Websites are also offering them for "free" but those who visit those sites may find that what is promised is not what is delivered. And the price could be steep.

Obtaining a copy of your credit report through the official Website is easy, and takes only a few minutes. Applicants need only provide their name, address, Social Security number and date of birth. It's a fairly simple process, but there are many companies, some legitimate and some rather unscrupulous, who would like to obtain such information for other purposes.
As a result, scams are flourishing throughout the Internet as people flock to Websites to obtain their "free" credit report.

Some of these companies have built Websites that look very similar to the official one and may even have similar Web addresses. What they offer is said to be free, but they are really only interested in stealing your name, date of birth and Social Security number. With this information, they can steal your identity and proceed to run up huge amounts of debt in your name.

A change in the Federal bankruptcy law that takes effect in October 2005 will hold everyone responsible for their debt, even if it is incurred by someone using a stolen identity. Other companies solicit business by e-mail, offering free information, but these are usually "phishing" expeditions, where the senders of the e-mail are only interested in having you reply by providing your sensitive personal information. The end result of the phishing trips is a stolen identity.

One company is currently being investigated by the FTC for fraud. They promised a "free" report, but required a credit card number for purposes of "verification." Customers were astonished to receive credit card bills for as much as $75 for their "free" product!

These scams can easily be avoided. It is a rare occasion when you receive something for nothing, but you can receive one free copy of your credit report each year from each of the three main bureaus simply (and only) by visiting the official Website.

Copyright 2004 Leadsandtraffic.com
loading...
Author:
Artice Source: http://www.articlesphere.com

Related Articles in Credit Reports


People interested in the above article are also interested in the related articles listed below:

If you're in fact determined to improve your credit ranking, then you are supposed to check your current status with all three of the foremost credit rating firms, Experian, Trans Union, as well as Equifax at least once in a year. Since hard as it might be to consider, more than one third of all credit report in the U.S. includes errors and many of them are most important ones. When you demand your credit reports, be sure to spell out that they must as well include enclosed credit scores, as without them, they will be more or less useless, and as well be conscious that six hundred and ninety-four is an average score and that below six hundred means that you have a less than superior credit rating.
If your credit worthiness has taken a big drop as many others have because of surprising state of affairs in a horrific financial system, all is not lost. Now is the moment in time to pick yourself up and begin rebuilding your low credit standing. Many people put it off for a very large amount of time until most choose to do something in relation to it. Throughout the world women are in the search in lieu of credit repair aid. At the moment more, brand new businesses are arriving on the scene of the wood work manufacturing bold claims that can never be be substantiated.
Many of us take a good credit score for granted. Are you doing the same principle? When is the last occasion you ripped apart your credit score report? It is suggested that you assess the correctness of your credit data at least one per year.
loading...

More in Credit Reports

Excellent, Larry. Thank you for taking the new article directory technology and making it work to the max. I encourage everyone to keep contributing and contributing regularly. I can attest to the fact that this site is already a strong directory in a field of many. Kudos to Larry!

Matthew C. Keegan
The Article Writer

 

I find it a delight to use both as an author and a publisher. It is full of nice little surprises that make the whole process of writing, reading and publishing articles a complete delight. This is one that comes out tops and beats the rest hands down.

Eric Garner
Managing Director
ManageTrainLearn

 

I did a Google search and came across your site. It was exactly what I was looking for and was elated to find such a broad range of articles. As I am launching a free magazine in a small town in Florida, I wanted to be as resourceful as possible while still being able to provide some content that is interesting and well written. Your site has all the variables in the mix. Excellent Site hitting all the notes in the scale sort of speak.

Mo Montana
Florida, USA

Article Topics

 
Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.
ArabicBulgarianCatalanChinese (Simplified)Chinese (Traditional)CzechDanishDutchEnglishEstonianFinnishFrenchGermanGreekHaitian CreoleHebrewHindiHungarianIndonesianItalianJapaneseKoreanLatvianLithuanianNorwegianPersianPolishPortugueseRomanianRussianSlovakSlovenianSpanishSwedishThaiTurkishUkranianVietnamese