Hi Maxwell
You are right. As per the Federal law, one credit report is provided free each year by each of the three credit reporting agencies. For getting the free credit report, you can visit the site https://www.annualcreditreport.com/ and order your report from there. However, only one credit report is free, but if you want to know your credit score, you may need to pay some charges for getting it. Credit scores are not provided free of cost.
I agree with Justin. However, I think that one should check his credit report at least thrice a year and remove any discrepancies immediately because if any negative item gets listed in your credit report you credit score may get lowered. If you want to stay in touch with your credit report round the year free of cost, you can pull one report from any of the three credit bureaus once in every four months. Doing this will not only save money, but also help you to keep track of your listings in the credit report.
If you pull out your credit report, it would mean that you are making a soft inquiry in your credit report. As per the FICO scoring model soft inquiries do not lower your credit score although it gets listed in your credit report. However, hard inquiries, i.e, the inquiries in your credit report which are make by the creditors, lower your credit score. But these hard inquiries are not authorized by you, you can easily get it removed from the credit report.
good point mary, I was not clear if the soft inquiries messed with your score any or not. Thank you for clearing that up. What is your suggestion for removing the hard inquiries, are there steps that one should take.
Sometimes the whole 'CR thing' can be confusing. I know the SOL, in ',y' state is 4 years. Now.....if the SOL, of the debt, is up, and you 'dispute' it, can the CB's remove the debt, or does it stay on the CR for 7 years? ( I've gotten a few different answers with this question.)
Hi
Even if the Statute of Limitation in your state has expired, it does not necessarily mean that the negative listing will get removed from your report. The listing will remain in your report for seven years and six months from the date of your last payment towards the debt although you will not be liable to the creditor for the debt after the SOL period. Now in some states the SOL is over 7 years since SOL varies from 3 to 10 years depending upon the state you have filed the loan agreement. In such cases the negative listing will stay there for seven years, but the creditor can sue you even if the negative listing gets removed from your report till the SOL expires.
Our financial crisis is REALLY making ALOT of people suffer.....more than 'normal'. People are losing homes, Health Insurance ( because they can't afford it anymore) etc. It's SOOO sad to see.
Hi ScemHesy
The financial crisis is mostly due to the subprime lending in which the creditors lend money to the borrowers without looking at the credit history of the borrower. In case of subprime lending, the lenders charge a very high rate of interest on the loan amount which most debtors fail to repay. Now, the lenders lend money of the people who deposit money as savings with them (like we put money in our account in banks to earn interest) and fail to repay them because the borrowers did not repay. This is the main reason why banks like Lehman Brothers showed bankruptcy.
It seems however, to be having problems lately... Almost always gives a blank screen with text instructing you to call instead.
No problem... EXCEPT --- They ask for your phone number to verify identity! Don't do it... They list the number on your credit reports, and collectors will start calling you ! Kind of a nasty trick, but it's legit...
Yes www.annualcreditreport.com is the only site where you get a free credit report once a year. If you want your credit report with credit scores you will have to pay for it. I found a site that offers free trial credit report from each credit bureaus AND you get your credit scores from each credit bureau. If you cancel this offer within the trial period you get a FREE credit report and FREE credit scores, no strings attached as long as you cancel during trail period. I have used this and can vouch for it. www.creditscorequick.com is where I went. I personally think you need to know where your scores stand.
Hi Maxwell
You are right. As per the Federal law, one credit report is provided free each year by each of the three credit reporting agencies. For getting the free credit report, you can visit the site https://www.annualcreditreport.com/ and order your report from there. However, only one credit report is free, but if you want to know your credit score, you may need to pay some charges for getting it. Credit scores are not provided free of cost.
I agree with Justin. However, I think that one should check his credit report at least thrice a year and remove any discrepancies immediately because if any negative item gets listed in your credit report you credit score may get lowered. If you want to stay in touch with your credit report round the year free of cost, you can pull one report from any of the three credit bureaus once in every four months. Doing this will not only save money, but also help you to keep track of your listings in the credit report.
If I pull out my credit report frequently, will it have any negative impact on my credit score.
If you pull out your credit report, it would mean that you are making a soft inquiry in your credit report. As per the FICO scoring model soft inquiries do not lower your credit score although it gets listed in your credit report. However, hard inquiries, i.e, the inquiries in your credit report which are make by the creditors, lower your credit score. But these hard inquiries are not authorized by you, you can easily get it removed from the credit report.
good point mary, I was not clear if the soft inquiries messed with your score any or not. Thank you for clearing that up. What is your suggestion for removing the hard inquiries, are there steps that one should take.
credit
Sometimes the whole 'CR thing' can be confusing. I know the SOL, in ',y' state is 4 years. Now.....if the SOL, of the debt, is up, and you 'dispute' it, can the CB's remove the debt, or does it stay on the CR for 7 years? ( I've gotten a few different answers with this question.)
Hi
Even if the Statute of Limitation in your state has expired, it does not necessarily mean that the negative listing will get removed from your report. The listing will remain in your report for seven years and six months from the date of your last payment towards the debt although you will not be liable to the creditor for the debt after the SOL period. Now in some states the SOL is over 7 years since SOL varies from 3 to 10 years depending upon the state you have filed the loan agreement. In such cases the negative listing will stay there for seven years, but the creditor can sue you even if the negative listing gets removed from your report till the SOL expires.
What do you think about our financial crysis?
I think it will be interesting for all...
What do you think about our financial crisis?
credit
Our financial crisis is REALLY making ALOT of people suffer.....more than 'normal'. People are losing homes, Health Insurance ( because they can't afford it anymore) etc. It's SOOO sad to see.
Hi ScemHesy
The financial crisis is mostly due to the subprime lending in which the creditors lend money to the borrowers without looking at the credit history of the borrower. In case of subprime lending, the lenders charge a very high rate of interest on the loan amount which most debtors fail to repay. Now, the lenders lend money of the people who deposit money as savings with them (like we put money in our account in banks to earn interest) and fail to repay them because the borrowers did not repay. This is the main reason why banks like Lehman Brothers showed bankruptcy.
http://www.annualcreditreport.com is the source for free annual reports...
It seems however, to be having problems lately... Almost always gives a blank screen with text instructing you to call instead.
No problem... EXCEPT --- They ask for your phone number to verify identity! Don't do it... They list the number on your credit reports, and collectors will start calling you ! Kind of a nasty trick, but it's legit...
credit report
credit report
Yes www.annualcreditreport.com is the only site where you get a free credit report once a year. If you want your credit report with credit scores you will have to pay for it. I found a site that offers free trial credit report from each credit bureaus AND you get your credit scores from each credit bureau. If you cancel this offer within the trial period you get a FREE credit report and FREE credit scores, no strings attached as long as you cancel during trail period. I have used this and can vouch for it. www.creditscorequick.com is where I went. I personally think you need to know where your scores stand.
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apxWi2 Appreciate you sharing, great blog article.Really thank you! Cool.