I had been reading in the newspaper about a new Federal law, that was being phased in in stages across the country, that would allow consumers to once a year request a free copy of their credit reports. I went to the credit union I belong to in Muskegon and asked how I would obtain that. I was told I was misinformed. I wrote an e-mail to my credit union in Midland, and got back a brief summation. I could write, phone, or investigate online.
I opted to go online, and in the process, picked up some additional information, and took a brief summary to my local credit union:
There is a Federal Trade Commission for Consumers website, entitled
Your Access to Free Credit Reports which does a good job of explaining the new law.
QUOTE
Your Access to Free Credit Reports
Soon you’ll be able to get your credit report for free. 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 the nation’s consumer reporting companies. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the FCRA with respect to consumer reporting companies.
(From the web site)
About 3/4 of the country has now been phased into the program, and the website will tell you whether your state is eligible or not.
The information that I took to my local Credit Union included:
Michigan has been phased in, and Michigan residents may request one annual Credit report from each of three Credit Reporting Bureaus, Equifax, Experian, and TransUnion.
You may obtain a free copy of your consumer credit report by contacting
the Annual Credit Report Request Service:
By Phone: (877)322-8228
Online: www.annualcreditreport.com
By mail: Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
I had some reasons for looking into mine, and being very inept on the telephone, I opted to use the website. I learned that I was allowed one free report per year from each of the three reporting agencies, and that I might opt to spread those reports over a year to keep a steady eye on my credit status. I learned that it takes a while and some patience to print out about 40 pages, most of which are likely irrelevant. A year from now, I may resort to sending a letter, although I was told that might take up to 15 days to receive a reply. I also learned that all three credit agencies have me living in a Post Office Box which has been closed for over a year. (By contrast, a P.O. Box I had used previously was correctly listed as a P,O, Box.) I have some corrections to remit.
I recommended to Paladin Elspeth that she use the telephone to request her information, and let them invest in the paper and ink.
The issues to discuss:
As an AD member, active on the Internet, were you aware of this change in the law?
If you asked for your Credit Report:
Which method did you use to ask?
How was your experience asking for it?
Was there anything unexpected in your report?