The Free Credit Reports Are Here!

Thanks to a recent amendment to the Fair Credit Reporting Act, everyone in the United States will soon be able to get their credit report for free (in some areas they are now available). This new amendment requires each of the national credit reporting agencies to provide you with a free copy of your credit report when you request it. You will be allowed one free credit report every twelve months.

Consumers in the Western states - AK, AZ, CA, CO, HI, ID, MT, NV, NM, OR, UT, WA, and WY- can order their free credit reports starting on December 1, 2004 .

Consumers in the Midwestern states - IL, IN, IA, KS, MI, MN, MO, NE, ND, OH, SD, and WI- can order their free credit reports starting on March 1, 2005 .

Consumers in the Southern states - AL, AR, FL, GA, KY, LA, MS, OK, SC, TN, and TX- can order their free credit reports starting on June 1, 2005 .

Consumers in the Eastern states - CT, DE, ME, MD, MA, NH, NJ, NY, NC, PA, RI, VT, VA, and WV- the District of Columbia, Puerto Rico, and all U.S. territories can order their free reports beginning September 1, 2005 .

The three national credit reporting agencies have set up a single central web site, toll-free phone number, and a conventional mailing address for ordering your free annual report . To order via the Internet, visit www.annualcreditreport.com , call 877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You can access and print the form at www.ftc.gov/credit.

Do not contact the three nationwide consumer reporting companies individually. They are only providing free annual credit reports through the web site, phone number and conventional mailing address listed above.

You can order your credit reports from each of the three nationwide consumer reporting companies at the same time, or you can order from only one or two of them. The law allows you to order one free copy from each of the national credit reporting companies every twelve months.

When requesting your free credit report you will need to provide your name, current address Social Security number of date of birth. If you have moved within the last two years, you will also may be required to provide your previous address. You may also be asked to provide other personal information which helps the credit reporting agency confirm your identity and help thwart people who may be attempting to obtain credit reports fraudulently.

Keeping abreast of the status of your credit report is always a good idea and you should take full advantage of these new regulations and request a copy of your credit report every twelve months. You will benefit by being aware of your ability to obtain credit and you will also have the opportunity to correct any errors that you discover in the report.

It can also help you discover any issues with identity theft -- a crime that has been on the increase for a number of years and can cause very significant and lasting difficulty to victims of this type of crime.

Federal law also entitles you to a free credit report under the following sets of circumstances:

A company takes adverse action against you, like denying your application for credit, insurance, or a job. You must ask for your report within sixty days of being notified of the action.

You are also entitled to one free credit report a year if you are unemployed and plan to look for a job within sixty days, if you're on welfare, or if your report is inaccurate because of fraud. Otherwise, the credit reporting company is able to charge you up to $9.50 for another copy of your report within a 12-month period.

Of course you can always purchase a copy of your credit report at any time by contacting one of the three national credit reporting companies:

It should be noted that consumers in the following states already have access to free credit report thanks to their individual state laws:

Colorado, Georgia, Maine, Maryland, Massachusetts, New Jersey, and Vermont.

If you do find errors in your credit report, inform the credit reporting company in writing. In most cases they will be required to investigate your claim within thirty days. When their investigation is completed, the company must provide you with written results and a free copy of your credit report if their investigation results in a change to your credit report.

If the credit reporting company does not resolve your claim to your satisfaction, you can ask that a statement regarding the dispute be inserted in your credit report. You may also ask the credit reporting company to provide your statement to anyone who received a copy of your report recently. It is likely that you will have to pay for this service.

This recent amendment to the law gives everyone easy access to their credit report without cost and it is an offer that should be taken advantage of. Make a habit of requesting a free copy of your credit report every year and make sure you study it thoroughly for errors and inaccuracies.

More Credit Report Resources: