Check Your Credit

Did you know that a study by the U.S. Public Interest Research Group found that a shocking 79% of credit reports contain mistakes. Worse yet, 1 out of 4 contain errors that are so serious, credit could be denied.

The good news is that you are now entitled (or soon will be) to receive one free credit report from each of the 3 major credit bureaus every 12 months. It's advisable to take advantage of this freebie every year, especially if you are thinking about applying for a new mortgage, for instance.

If you find a mistake, inform the credit bureaus. They have 45 days to fix the problem.

This new entitlement is scheduled to roll out in stages across the county. If you live in the West, you are already eligible. The Midwest will be able to get free reports on March 1, 2005, the South June 1, 2005, and the East and U.S. Territories on September 1, 2005.

The three major credit bureaus - Equifax, Experian, and TransUnion - have set up a toll-free number to handle requests. That number is 877-322-8228. Or you can send a written request to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

In a big hurry? Then go to www.annualcreditreport.com. Use this website to report inaccuracies, too.

If you use the website, you will be asked questions for security purposes, then sent to an authentication page for the bureau you select. You don't have to pull your free report from all 3 bureaus at once. That means you can spread your requests throughout the year, letting you keep a more vigilant eye on your credit.

After you have been authenticated, your credit report will appear on your monitor. Print it out right away, because once you close the window it will be gone, and you will have used up your free report from that bureau for the year.

The major credit bureaus and their contact information follows:

Experian: (Formerly TRW) Web: www.experian.com
PO Box 2104
Allen, TX 75013-2104
1-888-397-3742

Equifax: Web: www.equifax.com
PO Box 740241
Atlanta, GA 30374-0241
1-800-685-1111

Trans Union Corporation: Web: www.tuc.com
Consumer Disclosure Center
PO Box 390
Springfield, PA 19064-0390
1-312-408-1400

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