Soon you'll be able to get your free credit report. A recent amendment to the Federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy and privacy of information in the files of consumer reporting companies. The Federal Trade Commission (FTC), the Agency for the nation's consumer protection law, the FCRA imposes of consumer reporting companies.
A credit report contains information on where you live, how to pay your bills and whether you've been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in the report to creditors, insurers, employers and other companies that use it to evaluate applications for credit, insurance, employment, or renting a home. There are three consumer reporting companies at the national level-Equifax, Experian and Trans Union.
Consumers in the Western States before will be able to order their credit reports under federal law, which starts on 1st December 2004. Consumers in other States will be able to order copies, according to a regional roll-out detailed below.
In recent months, consumers have asked the FTC to more details about their rights under the Federal FCRA and the fair and Accurate credit transactions (fact) Act, which established the programme of free credit report. You also asked about credit reports in General. Here are frequently asked questions.
Q: How do I know when they are eligible to obtain a free report?
A: free reports will be gradually over a period of nine months, adjusted from West to East Coast begins on December 1, 2004. Beginning 1 September 2005, free reports will be accessible to all Americans, regardless of where they live.
Consumers in the Western States-Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming, you can order their free reports beginning December 1, 2004.
Consumers the Midwest States-Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin, can order their free reports beginning 1 March 2005.
Consumers in southern States-Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee and Texas, can order their free reports beginning on June 1, 2005.
Consumers in the Eastern States-Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia-the District of Columbia, Puerto Rico and all territories of the United States can order their free reports beginning 1 September 2005.
Q: How do I order my free report?
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