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Home : Education Center : Credit Reports  Credit Reports Under the Fair and Accurate Credit Transactions Act (FACT Act) consumers can request and obtain a free credit report once every 12 months from each of the three nationwide consumer credit reporting companies. AnnualCreditReport.com provides consumers with a secure means to do so. Your credit report will be furnished to you annually free of charge. The website will guide you step by step through the process and allow you to view your credit report within seconds. American Debt Resources, Inc recommends that consumers view a copy of their credit report no less than annually or at least one month before making any large purchases (Home/Auto). Additionally, each credit report from the three major credit bureaus should be obtained to insure accuracy among all three. Once you have obtained your credit report(s) you can contact our office and have a certified credit counselor review it with you. We will help you understand your credit report and answer any questions you might have. Remember your credit report is the first impression lenders will receive on your behalf. Therefore, it’s important to make sure you have your facts straight. If you do not have access to the internet you can obtain a copy of your credit report(s) by calling toll free 877-322-8228. Your credit report will be mailed to you via the U.S. Postal Service. Understanding my FICO score: This booklet provides a thorough description of credit scoring, including ways credit scoring can help you, the relationship between your credit report and your credit score, what a FICO® score considers, and interpreting your score. *NEW* Credit Freeze: Freezing credit is a security measure designed to prohibit anyone from accessing a consumer credit report. This feature is requested by the individual consumer and prevents potential fraudsters from gaining access to a consumer's credit report and score, and from granting new lines of credit in the consumer's name. In many cases a $5-$10 fee is charged each time you place and remove a credit freeze from your report. An overnight certified letter to the credit bureaus is needed to place and remove the freeze. Security freezes will remain in affect until they are removed by the consumer. According to the Washington Post, currently, at least 39 states and the District of Columbia allow consumers to freeze their credit files, but many of those laws do not take effect until 2008 or 2009. To find out if your state currently allows credit freezing or will do so in the near future click on the link below and find out. http://www.consumersunion.org/campaigns/learn_more/003484indiv.html It's important to note that in order for the security freeze to be most effective, you need to be able to place the freeze with all three credit reporting agencies. Prior to filing a freeze check with all three credit reporting agencies to ensure you are completing the correct forms.
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