How_to_Check_Credit_Reports

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					How to Check Credit Reports

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521

Summary:
Businesses in the United States buy more than two billion credit reports
every year. Since there are currently fewer than 300 million people in
the country, this means that the average adult has his or her credit
reports examined by someone about once every other month.


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Article Body:
Credit Reports - What's On Them, and How to Check Yours

Businesses in the United States buy more than two billion credit reports
every year. Since there are currently fewer than 300 million people in
the country, this means that the average adult has his or her credit
reports examined by someone about once every other month. And yet, only a
small percentage of Americans have ever laid eyes on their own credit
reports. Viewing your credit reports at least twice a year is a necessity
in today's electronic age, and while it may not always be free, getting
access to your credit reports is much easier and less expensive than it
has been at almost any time in history.

What is a Credit Report?

There are three major credit bureaus in the United States. They are
Equifax, Experian, and TransUnion. These three companies are competitors,
and therefore they don't share information with one another. As a result,
your Equifax credit report may be significantly different from your
Experian credit report, and your TransUnion report may be different
still. Sometimes this is a good thing - if only one of the credit
agencies reports a bad history, for example. But more often than not,
it's a headache, since at least one of your credit reports is bound to
have some incorrect, negative information on it.

What's On Your Credit Report?
Although each of the three credit agencies record slightly different
information, the following is a basic list of what you'll find on each of
your credit reports: Your name and your spouse's name. Where you live,
where you work, and where you used to live (and used to work). Your
social security number, phone number, and birth date. A list of your
credit accounts and when you've paid your bills - on time, late, late by
more than 30 days, late by more than 60 days, etc. How much total credit
you have available. Whether and to whom you've made an application for
credit in the past six months. Which companies have requested and
obtained your credit report. And finally, dreaded "public records" -
bankruptcies, foreclosures, repossessions, court judgments, convictions,
and tax liens.

How Long Does Information Stay On Your Credit Report?

Positive information stays on your credit report indefinitely, which is a
good thing. Most negative information should be deleted after seven
years, with the exception of certain types of bankruptcy, which can stay
on your report for ten years. If one of your credit reports is missing
positive information or contains negative information that's older than
seven years, contact the appropriate credit bureau. Their website
addresses are listed at the end of this article.

How To Obtain Copies of Your Credit Reports

Usually, you may have to pay for your credit reports. The fees that the
credit bureaus can charge vary by state, but the maximum is $9.50. You
can find out more information by visiting the individual sites of the
three bureaus: equifax.com, experian.com, and transunion.com.


So go ahead and do it now! Find out what your score is, it could make or
break your financial future.

Sincerely,

James
http://www.CC-Yes.com

				
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posted:3/9/2010
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