| The Importance of Obtaining an Annual Credit Report | | | | today's world, both potential landlords and employers |
| A person's credit history is one of the most valuable | | | | may request a copy of a person's credit history and |
| pieces of information that a person can have. Credit | | | | use the information as a determining factor for |
| history is a collection of acquired information compiled | | | | approvals. If a person actually has bad credit, they |
| together into a report from lenders, landlords, banks, | | | | may not be able to get the job that they've always |
| credit card agencies, and other entities that are a | | | | wanted or to rent a high class apartment somewhere, |
| testament to the trustworthiness of a person when it | | | | regardless of their current situation. Sometimes people |
| comes borrowing money and having a line of credit. | | | | become the victims of credit fraud and identity theft |
| Years ago, consumers were forced to pay to receive | | | | which can lead to bad credit without the victim |
| a copy of their credit history. Laws however, have | | | | becoming aware of the situation until a great deal of |
| since changed. Whenever a person is denied credit | | | | damage has been done. By obtaining a credit report at |
| due to information contained within their credit report, | | | | least once annually, the information within can be used |
| they have a limited time during which they may | | | | to help identify where the actions have taken place, |
| request a copy of their credit report from the same | | | | and the victim will then be able to alert the police. Once |
| credit bureau that provided the lender with the report. | | | | that happens and a copy of the police report obtained, |
| In recent years, the FTC passed new laws that allow | | | | a fraud alert can be placed on the credit report and an |
| consumers to request a free copy of their credit | | | | investigation into the matter will ensue. |
| report from each of the three credit bureaus at the | | | | Sometimes honest mistakes do happen and incorrect |
| frequency of once 12 months. There are plenty of site | | | | information is attached to the the wrong person's |
| online that you can request a report from. For those | | | | credit history. When this happens, or if other pertinent |
| who do not desire to receive the information online, the | | | | information reported is incorrect, a consumer may |
| sites provide information on how request a copy of | | | | dispute the account. When this happens, an |
| the reports through the mail or over the phone. | | | | investigation will be conducted. If the information is |
| A person's credit history is used for so much more | | | | proven to be wrong, it will be corrected. |
| than just obtaining a line of credit through a lender. In | | | | |