Credit Report

Agencies/Bureaus

It is important to check your credit record every year due to credit reports are not perfect. Some contain mistakes and old information. These discrepancies sometimes are serious enough to cause people turned down for insurance, mortgages or jobs.

Credit Bureaus or Credit Report agencies are companies in the business of collecting, packaging, and selling information about people's financial status to lenders, employers, and insurance agencies. There are lots of Credit Bureaus across the country, but in most cases people deal with one that is affiliated with one of the three major national credit report agencies.

You can order your credit report by going directly to the webside or by phone. If you have been rejected by a lender, you have the right to obtain a free credit report from the particular credit bureau that your lender used.

Once you get the credit report, review it carefully to make sure the information is correct and verify your name and SSS#. If you find mistakes, you have to contact the credit bureau that issued that information. Under the Fair Credit Report Act the credit bureau has to investigate and resolve the problem. If after the investigation you are still unhappy with with the action, you have the right to submitt a 100 word explanation of what happened - from your point of view.

Your personal information (name, address, previous address for the past 5 to 10 years, your date of birth, your SS#, your spouse name and SS#, the names and addresses of your previous employers, and your phone number may appear in the personal information section of a credit report.

The three major Credit Report Agencies are:

(1) EQUIFAX : www.equifax.com or 1-800-997-2497

(2) EXPERIAN ( formerly TRW ): www.experian.com or 1- 800-397- 3742

(3) Transunion: www.tuc.com or 1-800-888-4213