 seven states give residents the ability to obtain credit reports free of charge. This is over and above the free annual credit report available nationwide. These states are: Colorado, Georgia (2 per year), Maine, Maryland, Massachusetts, New Jersey and Vermont.
Can I obtain my credit report from other companies?
Yes. You may also obtain a copy of your credit report from companies who contract with the CRAs to market their products. Always be careful to examine these companies and their offers carefully.
Some companies sell a merged version of all three reports. Some also provide credit monitoring services that alert you to activity on your report, such as any new credit accounts, the placement of negative information and inquiries from creditors. Some companies provide free create reports which are paid for by their advertsing partners.
4. Dealing with Negative Information and Errors
How will I know if there is negative information in my report?
The best way to determine if you have negative information in your credit report is to order a copy and check it carefully. For a thorough review, you should check with all three CRAs since there may be some
variations in the file that each CRA maintains on you. This should be done at least once a year.
In addition to taking advantage of your free annual credit reports, you should also check your credit report when you know it is going to be used to make important decisions, such as applying for an automobile or home loan, renting an apartment, or applying for a job. Reports should be ordered at least one to two months before you apply for credit or intend to rent. At these crucial times, you do not want to be surprised to find that your report contains negative information, especially if that information is inaccurate.
A creditor has the duty to report only accurate, complete, and updated information to a CRA. For example, if you close an account voluntarily, your creditor must report this fact in order to distinguish it from an account that is closed for nonpayment.
What can I do if there are errors in my report?
There is no denying that errors can and do appear in credit reports. There are two main reasons errors may appear on your credit report. One is when you have been mistaken for another person with a similar name and their information ends up in your file. The other more serious cause of error is fraud. Someone may have intentionally gained access to your personal information and obtained credit in your name. Instances of identity theft are increasing.
According to a February 2014 Javelin Study. 13.1 million adults became a victim of identity fraud in the United States during 2013. You can read more about identity theft in our two guides:
Both state and federal laws provide you with the right to have errors corrected. Credit bureaus are regulated under the California Consumer Credit Reporting Agencies Act (California Civil Code section 1785 et seq.), the laws of other states, and the federal Fair Credit Reporting Act (15 USC 1681 et seq.).
For information on the law in your state, contact your state's consumer protection bureau or office of the Attorney General. National credit bureaus must have a toll-free number so you can contact them with your questions. Also, credit reports must provide an address to request an investigation of inaccurate information.
You may file your dispute by writing to the credit bureaus. Or you can follow the bureau’s Web site instructions for filing disputes online. Although letter writing may seem a bit old fashioned to some, there are certain advantages to taking this approach. First, when you send your letter certified and get a signed receipt, you have evidence that your dispute was received.
Once you have notified a CRA of your dispute, both federal and California law allow 30 business days for an investigation. The bureau must consider all the relevant evidence you give it, and errors must be corrected. If the CRA cannot verify negative information, it must be deleted from your file. You are entitled to receive a free copy of your corr