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Identity Theft- It could happen to you- Free Credit Report

Aug 8, 2008
The U.S. economy is on the brink of a depression. All of us are finding it harder and harder to get by, with wages stagnant and the prices of goods continually on the rise, especially fuel. The mortgage meltdown is still going on and this is not making matters any easier for the U.S. consumer. With banks tightening their requirements for home loans as well, it's getting hard to get ahead. Whether you know it or not, there are many things which can influence your credit score and they can change it in a moment's notice. It's hard enough to keep your credit score high; you need to take steps to protect yourself.

Now is a great time to purchase a house. It may not be the best of times to be a seller, but if you can be a buyer right now ? there might be more room for bargaining. So many people start the process of house hunting without knowing where they stand in regards to their credit and end up getting turned down for loans without even knowing why they were rejected. It may not seem important to know your credit score or see your report, but it can help you in ways that you never imagined. One of the best things that you can do before starting a loan process is to find out how to obtain free credit reports.

Once you have done this and have the opportunity to look through your free credit report, you will know exactly what is on your report. By federal law, you are entitled to free credit reports once a year. Even if you are not seeking out a home loan at the moment, it is helpful to look at your report; in many cases, there is inaccurate information on credit reports. It may be easy to fix these errors in some cases, more complicated in others, but knowing what is on your report is the first step to ensuring that your credit is in good shape.

Thanks to a new amendment to the Fair Credit Reporting Act, you are entitled to obtain free credit reports every year from all three reporting companies. Equifax, TransUnion and Experian must provide a free copy to you once each year, if you request for them to do so. The Federal Trade Commission has warned the public against the numerous scams that have come about promising people the ability to obtain free credit reports. Most of them, indeed, end up being a scam and you end up giving some personal information out to others for either their own personal gain or a hidden fee or agenda.

These sites might ask you to buy something or join something in order to obtain free credit reports. Don't fall for it. There is a place where you can obtain free annual credit report cards, this is http://www.annualcreditreport.com. The government suggests this site as a place to obtain free credit reports. If you had to pay for your credit report or feel that you were otherwise defrauded, file a complaint with the FTC. You might not see that money again, but you can help to prevent them from scamming other consumers.
About the Author
Please stop by my Free Credit Resource website. You will find useful info on How to Obtain Free Credit Report and also Improve Your Credit Rating
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