The Web site makes it sound simple enough. Click a few buttons, provide some information and once your identity is confirmed you get to see your credit report and print it – for free. Today, people in the western half of the United States can try it out.
Mandated by federal law, www.annualcreditreport.com is a product of the Fair and Accurate Credit Transactions Act that garnered so much attention last year not only for the free reports Americans will be entitled to once a year, but for its provisions to help victims of identity theft clear their names faster.
Get a head start on your 2005 New Year’s resolutions by getting your free credit report. Not only will you be taking more responsibility for your finances and personal records, you could be putting a stop to trouble before it even has a chance to take root in your life and wreak havoc.
What to do once you get your hands on your report? Look for mistakes. Consumer advocates will be watching this system and they expect people to find errors in their reports – everything from misspellings to signs you’ve been a victim of identity theft. Yikes. That’s not exactly what you want to hear, but if it has happened, you need to know. This is not the time to follow an ignorance-is-bliss philosophy. Spending an entire year’s worth of vacation time repairing damage done by identity theft is not bliss, and neither are the costs associated with it nor the shock it entails.
The credit reports should include instructions for reporting mistakes. Even if that process turns out to be more trying than the holiday you just spent with your in-laws, stick with it. The three major credit bureaus have toll-free numbers to take complaints. Those hotlines could get busy and the bureaus might find themselves overwhelmed, so be prepared to be patient.
Erasing those mistakes might not be so easy, either. But the consequences of doing nothing are worse. Consumer groups say it’s OK to spend the several dollars it will take to get your credit score if you want it, but don’t fall for high-priced credit monitoring services.
Some Americans put the rest of us to shame with their financial preparedness. Most of us, if we are honest with ourselves, have gaping holes in our grasp of financial matters and planning. The federal government is giving us the opportunity to take the first step toward taking hold of our finances and our future. And it’s free.
If the Internet isn’t your thing, you can still get a free copy of your report by calling 1-877-322-8228, or by writing to the Annual Credit Report Request Service at P.O. Box 105281, Atlanta, GA 30348-5281.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
