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Background:
Consumers living throughout the U.S. now have the right to order a free copy of their credit report thanks to a new federal law, known as the Fair and Accurate Credit Transactions Act (FACTA), adopted by Congress in 2003. Now that credit reports are free, consumers have better access to this important document and can take steps to make sure it offers a fair picture of their credit history.
Your credit is one of your most important assets. Having good credit means you should have more options to borrow money at the lowest cost and from the best lenders. It also means that others who look at your credit -- such as landlords, insurance companies, or even prospective employers -- are less likely to turn you away or penalize you because you have poor credit.
Take the first step to find out where you stand in the credit world. Get a copy of your consumer credit report and credit score.
Your consumer credit report should contain accurate and up-to-date information about your credit history and behavior. Having your consumer credit report and credit score in hand lets you see what your creditors or those who base decisions on your credit will see. If you discover mistakes, you can have them corrected. Reviewing your consumer credit report can also alert you if someone has stolen your identity.
Be sure to get a free copy of your consumer credit report to stay up to date with your credit profile and to protect yourself from identity theft.
This information is provided as a guide and is not meant to be legal advice. Be sure to consult an attorney for legal advice.
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