Credit report and how to get yours for free

Consumers who are looking for a copy of their cost free report should be cautious. There is an official Website for obtaining the free credit reports. The recently passed adjustment in legislation now allows every U.S. resident the right to receive one free copy of their credit report from each of the three primary reporting agencies (Experian, Trans Union, and Equifax) once each year. Some Websites purport to offer credit reports for "free" but people who visit those Web sites may notice that what is promised is not what is delivered.

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Most people do not know about the passage of a revision to the Fair Credit Reporting Act (FCRA) that Congressmen passed into law in 2004. Credit reports are free, if people understand where to get them. A number of people do not want you to hear about free reports, and they are either providing something that can be had for no charge or they are trying to acquire private information from consumers in order to perpetrate theft of identity. Individuals should be cautious when answering advertising that promises to provide credit reports for free.

Lawbreaking can result in being investigated by the Federal Trade Comission for credit report fraud. Recently a Website promised a no charge report, but demanded a credit card number for purposes of "verification." Customers of one less than honest business were distraught to receive credit card invoices for as much as $125 for their "free" credit report!

Report financial crimes can easily be avoided. It is a rare occasion when you get something for nothing, but you can receive one free copy of your report each year from each of the three main bureaus simply (and only) by visiting the official Site. At the official site, completing the form is a fairly simple process, but there are many companies, some legitimate and many pretty unscrupulous, who would like to obtain the personal information of consumers for other purposes. Applicants for free reports need only include their name, street address, Social Security number and birthdate. Crimes are flourishing throughout the Internet as individuals flock to Web sites to acquire their "free" report. Obtaining a copy of your report through the official Website is easy, and takes only a few minutes.

Web sites with similar names to the official site offer what is claimed to be free, but the businesses are really only interested in illegally obtaining your name, date of birth and Social Security number. A change in the Federal bankruptcy law that became law in October 2005 will hold everyone responsible for their debt, even if it is incurred by someone else. Many organizations have erected Websites that seem very similar to the official one and may even have nearly identical Web addresses. A number of corporations try to obtain business by e-mail, offering information for free, but these are for the most part "phishing" expeditions, where the organizations only want to have you reply by providing your private personal identity secrets. By acquiring your personal information, unscrupulous firms can obtain your identity and can run up huge amounts of debt in your name. The result of doing business with the wrong company can be a stolen identity.