Help with Credit Card Debt Consolidation

Have you found yourself in trouble with credit card debt and want help with debt consolidation?  Then I have good news for you!  There are all sorts of places that can offer you help with your credit card debt through debt consolidation loans.  Sometimes when you are in deep with credit card debt, the best help you can is with a company who specializes in debt consolidation.


These companies will work with your creditors to negotiate lower payoff amounts than what you actually owe.  Then they will shop around for a debt consolidation loan that will pay off your creditors and allow you to make one monthly payment to the lending company rather than making several different payments to your individual creditors.


The help you can get through debt consolidation for your credit card debt as well as other debt can be invaluable because these debt consolidation companies have special training as well as contact with various creditors that can be of a great advantage to you.  With these contacts, they can help lower your monthly payments by having the credit card companies agree to a lower payoff amount as they know you will be getting a debt consolidation loan and they will be receiving their money – which they really like!


You can find many companies that help you with credit card debt through a consolidation loan.  You will want to make sure that you are dealing with a reputable company, however.  Do your research before you sign on the dotted line.  They should provide you with a detailed written copy of what they will be able to do for you and the rights that you have when you are working with them.


A debt consolidation company that is on the up and up will also advise you of your rights as a consumer and provide you with a way to “get out” of the contract if you are unsatisfied with their services.  They should also outline their fees and how you will pay those fees.


Another part of the help that a debt consolidation company can do for you when it comes to credit card debt is they can help keep you out of debt.  After you have obtained your debt consolidation loan and you are making regular, on-time payments, they will help devise a plan with you that will keep you from getting into trouble again and provide counseling services that you can use in the future.  It’s well worth the money you’ll spend if you seek help with credit card debt through a consolidation company. 


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Credit Card Debt

Americans are in credit card debt – some quite deep.  Statistics show that the average American carries an average of $10,000 in credit card debt.  That’s a lot of money!  We are an instantaneous society meaning we want what we want when we want it.  So when a consumer has a credit card, it’s often easy to just whip out the piece of plastic and charge purchases.


It’s not that we don’t intend to pay the bill – at least most of the time.  Most people have good intentions when it comes to their credit card debt.  They’ll pay the bill when they get their next paycheck, they’re expecting a cash windfall and they’ll pay the balance in full then, or they figure they can always make payments.  But sometimes life happens and circumstances step in preventing people from paying down their credit card debt which is how many people get into trouble.


Credit card companies like this and they constantly deluge us with offers of low financing rates with high credit limits all in the hopes that they will run up a debt and then have to pay finance charges which is how they make their money.  And those credit card offers are coming to people at younger and younger ages.


It’s not uncommon for a new high school graduate to get a credit card offer that they send in for.  Many of these young people love the feeling of being able to charge merchandise without having to pay for it at the time.  Many of these young people are also not financially savvy and the credit card debt piles up rather quickly.


If you find you have gotten yourself into a problem with credit card debt, it’s important for you to take steps right now to take care of it.  That means you need to pay down that debt as quickly as you possibly can until you can achieve a zero balance.  Probably the best idea to get out of credit card debt is to cut up the plastic and then make the largest payments you can for as long as you can to help take care of the problem.


Credit card debt is a fact of life for many Americans and it can affect credit ratings which can cause denial of a loan for a car or a home.  Get out of credit card debt as soon as you possibly can.  It will reflect well on your credit report and make potential future lenders trust you more as a good credit risk.

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Consumer Credit Counseling Services Debt Consolidation

You’ve probably seen commercials for consumer credit counseling services that can help with your debt.  One of the services that these consumer credit counseling companies offer is to help you obtain a debt consolidation loan that will help you get out of debt and become more financially solvent.

Basically, a debt consolidation loan that a consumer credit counseling service can obtain for you is a simple procedure.  It involves the securing of a loan that will cover the amount of money that you owe to your creditors.  That money is used to pay your creditors off completely and then you make one payment to the loan company instead of many payments to your individual creditors.

The consumer credit counseling service has access to many debt consolidation lenders that individuals don’t have on their own.  They can help you find a debt consolidation loan that will work best for you allowing payments that are affordable for you and your situation.

Consumer credit counseling services can also negotiate with your creditors by letting them know you are getting a debt consolidation loan for your bills.  That means the creditors are going to get paid, which they like.  The counseling service can then negotiate with the creditors and perhaps get you a lower payoff amount than what you actually owe.

There are many advantages to a debt consolidation loan.  First, you are just making one payment rather than many.  If you’re like me, sometimes it’s difficult to keep track of who you owe and who you don’t – especially if you owe several different companies money.  When you have a debt consolidation loan, there’s just one payment to make and it can often be directly taken out of your checking or savings account.

Having a debt consolidation loan also helps your credit report look a little better.  Once your creditors are paid off, it shows on your credit report as paid in full.  That means that you will have a zero balance with them and the account is showing as being in good standing.  Of course, the debt consolidation loan will also show on your credit report, so it’s important for you to make that payment on time and not miss any or else you will undo all the good you did in the first place.

Of course, you can always pursue a debt consolidation loan on your own rather than going through a consumer credit counseling service, but the advantages of having this service far outweigh the disadvantages.  With their contacts and their negotiating skills, you might be better off finding a company you can trust and get on the road toward being debt free!

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Consumer Counseling Credit Service - KnocK Out Debt

If you are interested making efforts to knock out your debt, you might want to consider hiring a consumer credit counseling service to help you.  They can not only help you knock out debt, but they can also get you on the road toward financial independence and keep you out of the spending habits that got you into trouble in the first place.

A consumer credit counseling service will work with your creditors to knock out your debt and make repayment arrangements as well as possibly reducing the amount of interest that you are currently paying.  The consumer credit counseling service has agreements with many companies and they work with them to make repayment terms that you can stick to and get back on track.

It can be difficult to knock out your debt on your own.  That’s why consumer credit counseling services were founded and today, with more and more Americans deep in debt, they are becoming big business.  Not only do they charge you a small fee for their services, they also receive a percentage of your payment from the credit companies they work with.

One of the largest and oldest consumer credit counseling service that exists to help people knock out debt is CCCS (Consumer Credit Counseling Service).  They can be found online at www.cccsintl.org and can even do an online consultation with you regarding your debts and what they can do to help you out.

If you want to use another company, they abound – especially on the Internet.  It seems like you can’t turn on the television or the radio without hearing about another company that promises to knock out your debt and make you financially solvent again.  

When choosing a consumer credit counseling service to knock out your debt, you’ll want to choose carefully and make sure you are getting service from a reputable company.  Do some research into their background and be sure there are no complaints that have been filed against them with the Better Business Bureau.

They are required to advise you of your rights when it comes to credit counseling and everything they will do to help you should be in writing.  This should include an “out clause” that would allow you to cancel their service if you are dissatisfied with their performance.

You can try to knock out your debt on your own, but securing the help of a consumer credit counseling service is a better option – especially if you are deep in debt.  They have a little more pull with creditors plus it looks good on your credit report showing that you are trying to not only get out of debt, but stay out of debt for good.

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Consumer Credit Card Counseling Services

If you have found yourself overwhelmed by credit card debt, you might want to seek out the services of a consumer credit card counseling service.  They actually are a part of consumer credit counseling services that are available to consumers all over the world.  They can help with counseling services when it comes to your credit card debt as well as any other debt that can be affecting your credit report and your credit rating.

The most prominent credit card counseling service is Consumer Credit Counseling Service.  They have locations all over the United States as well as in thirteen countries.  You can find them online as well as in your local Yellow Pages.  They have a proven reputation for helping people get out of credit card debt and back on their feet.

There are other consumer credit card counseling services available to Joe Public and they can most often be found on the Internet.  Just do a Google search for consumer credit card counseling services and you will find many, many companies to choose from.  You’ll need to be cautious, however, when picking a company blindly like this.

Take a moment to ask questions about their company.  Check with the Better Business Bureau to see if there have been any complaints filed against them.  If you think they are reputable and decide to use them to get out of credit card debt, make sure that all of their services are spelled out on paper and read the fine print.

A reputable consumer credit card counseling service will advise you of your rights as a consumer as well as a customer of theirs.  They will outline up-front what services you can expect from them and have everything in writing so you will know that you are protected.  Be sure you look for an “out clause” that allows you to cancel your contract if you are unhappy with their services.

You will pay a fee for their services, but it’s often quite a manageable fee.  The consumer credit card counseling service will then call your creditors and negotiate re-payment of the account.  They can often get the credit card company to lower the amount due if the account will be paid in one lump sum.  They also can often get your financing percentage rate lowered which can lower your monthly payment to them.

Consumer credit card counseling services provide a great option for people who have gotten themselves in over their heads with credit card debt.  Proceed carefully and be a smart consumer.  You will soon find that you can enjoy a debt free life!

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Consumer Credit Counseling Services Branch

Consumer credit counseling services are all over the place and finding a branch office from one of the larger companies can be a daunting proposition.  All over the United States and even the world, there are many different branches of the leading consumer credit counseling company – CCCS or Consumer Credit Counseling Services.

A quick search of their website at www.cccsintl.org shows that there are branches all over the world for this great consumer credit counseling company.  They have a great reputation for getting people out of debt and helping them stay out of debt.  You can find a branch somewhere near you no matter how small the town you live in is.

When you visit a branch of a consumer credit counseling service, you will have to provide them with all of your financial information so that they can thoroughly go over your current credit situation and then offer advice and support so that you can pay off your bills and outstanding debts.  They will then help you develop a budget as well as a game plan that will keep you out of debt and be able to maintain a good, clean credit rating.

They do charge a fee for their services, but when it comes to consumer credit counseling, the fee is a small price to pay.  Look at it this way – you somehow got into trouble with spending money.  Maybe you spent it on something worthwhile like a new car or perhaps you just swiped your credit card one too many times at Wal Mart.  The truth is that you are in trouble with your credit rating and you need to find a way to pay your debts and get back on track.

The experts at any branch of consumer credit counseling services have extensive experience and training that can help specifically with any problems like these.  They have found ways to negotiate with your creditors to come up with a repayment plan that you can afford and that you wouldn’t be able to come up with on your own.

The best part about a consumer credit counseling service is that they will stick with you through the whole process.  That means that once you’ve worked jointly together to develop a repayment plan, you can also develop a budget that will keep you on track and be able to stay out of credit “hell”.

To find a branch for consumer credit counseling services, look in your local yellow pages under “Credit Counseling Services”.  You can also do a search on the Internet say through the yellow pages section at yahoo.com.  Another option is to call the home office for consumer credit counseling services to find a branch near you.  Their toll-free number is 1-800-873-2227.

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CCCS Consumer Credit Counseling Service

One of the most prominent companies that exists today in the field of consumer credit counseling is CCCS – Consumer Credit Counseling Services.  CCCS has been providing consumer credit counseling services to clients for years and they have a proven track record for getting people out of debt and on the road towards financial freedom.


CCCS starts out by analyzing your current financial situation and then developing a personal financial assessment.  This includes looking at your income, expenses, assets, and liabilities.  After they have the big picture, they can start making suggestions on how you can get out of debt and start living your life financially stable and with a good credit record.  Consumer credit counseling services like those offered by CCCS have become big business and they are a good option for people who have gotten themselves into financial trouble and don’t know how to get out of it.


This company offers a plethora of advice and tools on their website that can help educate you about the bad habits that got you into financial trouble in the first place and then help you take steps to change your spending habits so that the trouble doesn’t continue.  CCCS is one of the first companies to offer these services and they have a great reputation in the financial industry.


Besides offering credit counseling, CCCS will also offer up educational workshops, community partnerships, and financial incentives that can not only teach you about the proper way to use credit, but also how to clean up any messes you’ve made when it comes to your own credit and credit score.


Probably one of the handiest tools on their website – which can be found at www.cccsintl.org – is the financial worksheets that can help determine your debt to income ratio which can make a difference when you apply for a loan or a line of credit.  See, what the financial institutions look at when they are deciding whether or not to give you a loan is whether or not you will have enough income to make the payments required to repay the loan.  If your debt exceeds your income, you won’t get the loan.  This can be a very valuable tool as you will be able to look at your debts and try to find ways to cut down and conserve so that your income exceeds your debt instead of the other way around.


CCCS – Consumer Credit Counseling Services – is a great company that can help people of all walks of life – both those with credit problems as well as those who want to prevent credit problems.  Check them out and take advantage of all they have to offer to make your financial statement look as good as it can.

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Consumer Credit

When we refer to consumer credit, we are talking about the use of credit to finance transactions without having to pay the full amount of the merchandise at the time of checkout.  The most common form of consumer credit is a credit card issued by a financial institution.
Merchants may also provide financing for products which they sell. Banks may directly finance purchases through loans and mortgages. This type of consumer credit is most often used for cars and homes and other large purchases.
The law of consumer credit is primarily embodied in federal and state statutory laws. These laws protect consumers and provide guidelines for the credit industry.  There are many different laws that protect both the lender as well as the borrower when it comes to consumers obtaining credit.
States have passed various statutes regulating consumer credit. The Uniform Consumer Credit Code (http://www.law.cornell.edu/uniform/vol7.html#concc) has been adopted in eleven states and Guam. Its purpose is to protect consumers obtaining credit to finance their transactions, ensure that adequate credit is provided, and govern the credit industry in general. 
Congress passed the Consumer Credit Protection Act in part to regulate the consumer credit industry. It requires creditors to disclose credit terms to consumers. The Consumer Credit Protection Act also protects consumers from loan sharks, restricts the garnishing of wages, and established the National Commission on Consumer Finance to investigate the consumer finance industry. 
Credit card companies and credit reporting agencies are also regulated by the Act. The Act also prohibits discrimination based on sex or marital status in the extending of credit. The Act also regulates certain debt collectors and provides for rules as to what they can and cannot do when attempting to collect a debt.
Let’s face it, we need to have credit.  We may not need it for everyday things like groceries and toiletries, but if we want to own a car or a home, it’s necessary as not every consumer can pay cash for such high ticket items making obtaining credit a must.
From credit counseling agencies to credit card companies and credit lenders, consumer credit is a multi-billion dollar industry.  Because we do need lines of credit to get some important things in our lives, it’s a good thing that legislators realize that having consumer credit laws is needed so that abuse of the system doesn’t occur.
The everyday consumer has at least one line of credit open, but the average in the United States shows that we have at least four to five lines of credit in some way, shape, or form.  As a consumer, you must use your credit lines wisely and pay your installments on time.  If you don’t, you will find yourself with a bad credit rating and a bad credit report.  Consumer credit can work for you or against you – it’s really all up to YOU!

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Equifax Free Online Credit Report

There are three credit report bureaus where you can obtain your free online credit report, one of which is Equifax.  Equifax could very well be one of the oldest credit reporting bureaus around as they have been providing lenders with credit reporting services for over one hundred years!  


Founded in 1899, Equifax has been providing creditors and lenders with credit reports – both online as well as through the mail.  They have a proven track record with over $1.4 billion dollars in revenue with 4,600 employees in 13 countries.  With the advent of the Internet, Equifax became even more popular as they were able to launch their website where people could obtain free online credit reports with a few keystrokes.


Of course, that wasn’t always the case.  Up until 2003 when the FACT Act was passed, regular everyday consumers weren’t able to access their own credit reports.  The only people who were privy to this information were credit lenders and even today, the formula for calculating the all-important credit score remains a mystery – with the blessing of the FTC.


After the FACT Act passed, all Americans were given the right to obtain an Equifax credit report online for free – or from either of the other two credit reporting bureaus as well.  You can do this in a variety of ways.


The easiest way to get your free credit report online from Equifax is to go to their website directly at www.equifax.com.  Once you are there, they will prompt you to press a link button that will take you to an online form that will get you on your way towards obtaining your free Equifax credit report.


You will be asked to provide personal information like your name, address, and social security number among other information.  Then they will ask you about something specific that is on your credit report so they can verify you are you.  After that, your free online credit report from Equifax will appear directly on your computer screen.


At that point, you can not only view your credit report, but you can also download it to your computer’s hard drive or print it out for further inspection.  It is especially important for you to immediately check for errors as mistakes can wreak havoc with your all-important credit score.


Equifax is one of the giants in the credit reporting industry.  They have made it much easier for consumers to obtain an online copy of their free credit reports at the Equifax website.  Look for them online, do your homework when it comes to how to read your credit report and then use it to your advantage – keeping your good credit or repairing your bad credit.

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Free Three Bureau Credit Report

  

There are three major credit reporting bureaus that can offer you a free credit report.  They are Experian, Equifax, and Transunion, and all can be found easily online.  These three bureaus provide credit reports to everyday consumers, but, unfortunately, you are only entitled to have one credit report for free.

In 2003, the Federal Government passed the FACT Act that allows for all Americans to have access to one free credit report each year.  That means that in order to get a credit report from the three bureaus, one of them will be free, and the other two you will have to pay for.

Why bother to get a credit report from all three bureaus when only one is free?  The answer is simple.  Businesses and creditors are not required to report to all three of the credit bureaus.  They are not legally required to report to any of them if they don’t want to.  However, most companies will report to at least one of the three credit bureaus.

If you are serious about either keeping good credit or improving your bad credit, you as a consumer should request first your free credit report and then buy the other two so that you have a credit report from all three credit bureaus.  The reason is given above.  You want to have a full and clear picture of where you stand when it comes to credit, so getting a credit report from all three bureaus is just a responsible thing to do.

Once you receive your free credit report from at least one of the three bureaus, you will want to take some time to go over it and make sure that the information is accurate.  Even one mistake on your credit report can make a difference in your overall credit score and could get you denied for a line of credit or a loan.

If you do find a mistake, you need to report it right away.  Usually, there will be a link on the websites where you can go to so you can at least alert them to the error.  After that, you will have to provide written documentation to them that the account is a mistake and they will review your request.  Once they decide, if it is indeed a mistake, it will be removed from your report immediately.

To recap, you can get one free credit report from any of the three bureaus in charge of credit reporting.  To get reports from the other two, you will be charged a small fee, but in the long run, it will be well worth the money to protect your credit.

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Free Credit Report Online

We live in a society where the Internet nearly rules our lives which is great for people who want to get their free credit report online.  Everyone in the United States is entitled to get a free copy of their credit report and the best part is that it is almost instantaneously available online with just a few keystrokes and patience.


Getting your free credit report online is easy and can be done in less time than it takes to cook a hot dog.  There are three major credit reporting agencies that compile your credit information and put it into one report for you, as well as your creditors, to see and peruse.  They are Experian, Equifax, and TransUnion.


Businesses and creditors can report to one, two, all three or none if they so choose.  Most will report to at least one.  That actually is bad news for the consumer because what is contained in one report may not be on the other two.


In 2003, the Federal Government passed the FACT Act which allows all Americans the opportunity to view their credit report for free online or by mail.  That means that you can get your credit report online from any one of the agencies for free, but not all three.  If you want to get the other two, you will have to pay a fee – usually ranging from $10 - $15.


There are two ways you can get your free credit report online although they are intertwined.  You can go directly to one of the credit bureau sites if you choose.  They can be found at www.experian.com, www.equifax.com, and www.transunion.com.  Once there, they will direct you to the place you need to be to get your free credit report online.


You can also go to www.freecreditreport.com or www.annualcreditreport.com and do the same thing.  These places will re-direct you to one of the credit reporting agencies’ websites where you will enter in personal information as well as data that is included on the credit report that will identify you as – well, you.


After you answer the questions correctly, your free credit report will appear online on your computer screen.  From there, you can download it to your computer or print it out so you have a hard copy.  Whichever way you choose to save your free credit report that you got online, you’ll need to check it closely for errors and takes steps to correct those errors.  These websites can help you with that as well.

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Free Annual Credit Report

As a consumer in the United States, the Federal Government decided back in 2003 that you are entitled to receive a free annual credit report so you can monitor your credit and your credit rating.  The FACT Act was passed unanimously so that all Americans could get a free annual credit report and be able to keep track of what the credit reporting agencies were compiling on them.


This is groundbreaking in that people are now able to see what lenders see, correct any errors that are on the report, and keep track of their credit to prevent any blemishes that might damage their worthiness as a credit risk.  Before the FACT Act was passed, the only people privy to this information was the lenders and the credit reporting agencies.


There are two ways you can go about receiving a copy of your free annual credit report.  First, you can go directly to any of the websites of the credit reporting agencies.  These agencies are Experian, Equifax, and TransUnion.  Their web addresses are www.experian.com, www.equifax.com, and www.transunion.com.


You will have to answer a few personal questions and provide proof of your identity based on some of the information on the credit report.  Then the report appears directly on your computer screen so you can view it, download it to your computer, and/or print it out.


The second option you have to obtain your free annual credit report is to go to either www.freecreditreport.com or www.annualcreditreport.com.  They will eventually be directing you to the credit reporting agency of your choice, but they will be able to easily guide you through the process of getting your free annual credit report.


It is very important that you take advantage of getting your free annual credit report each year and checking it for accuracy.  Mistakes can be made, and they can affect the decisions of lenders when you apply for a line of credit or a loan.  Just one mistake can make the difference between a yes and a no from the lender.


You will also want to monitor your free annual credit report for any information that does not apply to you.  It can alert you to identity theft if you see that there is information on there that isn’t yours such as a credit card you never applied for or a loan that you never sought out.


The free annual credit report is a great tool for consumers to have when it comes to their credit.  Not using it is a huge mistake, so go out and get your free annual credit report today if you haven’t already.  It’s the best thing you can do for yourself.


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Credit Report Seasoned Trade Line

A credit report seasoned trade line is a method of allowing strangers with bad credit to become authorized users on a credit card account of someone with good credit for a fee.  This is also known as piggybacking and can be very helpful to people who have bad credit and fear they will never be able to have good credit.  Of course, there is some controversy to the credit report seasoned trade line business.

The benefit to the person with bad credit will have an account with excellent credit history listed on their credit report which will raise their credit score.  The cost of a credit report seasoned trade line will run anywhere from $500 to $2,000 depending on the credit history of the new account.  The person with the good credit receives from $100 to $150 for this with the rest of the money going to the middle man that set up the seasoned trade line in the first place.

Of course, there is a risk for the person with good credit.  The person with bad credit may charge the credit card account and then not pay it back thus causing damage to the good credit person.  The brokers who provide the service claim that they never provide the entire account number to the recipient, however they may find it out anyway because the entire number may appear on some credit reports.

A logical question that comes about when exploring a credit report seasoned trade line is whether or not it is legal.  The FTC says that what they have been advised about from their lawyers is that it appears to be technically legal.  The agency, however, is not saying that it is legal.  The credit report seasoned trade line practice could be fraudulent if, as required by the contract, a borrower does not disclose pertinent facts relating to that person’s ability to pay back a loan.

Fair Isaac Company who is the inventor of the FICO score which is your credit rating says they will no longer take into account authorized users when determining a credit score.  That means that a credit report seasoned trade line practice may become obsolete.  

This is a double edged sword since it will stop the practice of seasoned trade lines appearing on credit report; however it will negatively affect students who use their parent’s cards and spouses with little credit history of their own.  A seasoned trade line can help a person with bad credit show good credit on their credit report, but it may not be legal and we think it won’t even be available in the future anyway.

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Annual Credit Report

As a consumer in the United States, the Federal Government decided back in 2003 that you are entitled to receive a free annual credit report so you can monitor your credit and your credit rating.  The FACT Act was passed unanimously so that all Americans could get a free annual credit report and be able to keep track of what the credit reporting agencies were compiling on them.


This is groundbreaking in that people are now able to see what lenders see, correct any errors that are on the report, and keep track of their credit to prevent any blemishes that might damage their worthiness as a credit risk.  Before the FACT Act was passed, the only people privy to this information was the lenders and the credit reporting agencies.


There are two ways you can go about receiving a copy of your free annual credit report.  First, you can go directly to any of the websites of the credit reporting agencies.  These agencies are Experian, Equifax, and TransUnion.  Their web addresses are www.experian.com, www.equifax.com, and www.transunion.com.


You will have to answer a few personal questions and provide proof of your identity based on some of the information on the credit report.  Then the report appears directly on your computer screen so you can view it, download it to your computer, and/or print it out.


The second option you have is to go to either www.freecreditreport.com or www.annualcreditreport.com.  They will eventually be directing you to the credit reporting agency of your choice, but they will be able to easily guide you through the process of getting your annual credit report.


It is very important that you take advantage of getting your annual credit report each year and checking it for accuracy.  Mistakes can be made, and they can affect the decisions of lenders when you apply for a line of credit or a loan.  Just one mistake can make the difference between a yes and a no from the lender.


You will also want to monitor your annual credit report for any information that does not apply to you.  It can alert you to identity theft if you see that there is information on there that isn’t yours such as a credit card you never applied for or a loan that you never sought out.


The annual credit report is a great tool for consumers to have when it comes to their credit.  Not using it is a huge mistake, so go out and get your annual credit report today if you haven’t already.  It’s the best thing you can do for yourself.


www.simplecreditonline.com

Free Credit Report

On December 4, 2003, President George W. Bush signed into law the Fair and Accurate Credit Transactions (FACT) act that provide one free credit report to all citizens of the United States per year.  This came about as the result of a rise in identity theft and the need for citizens to able to view and monitor their credit reports to check for accuracy of information.


Now, all United States citizens are entitled to one free credit report each year from any one of the three credit reporting agencies:  Experian, Equifax, and TransUnion.  This one free credit report can be very valuable to the everyday consumer as it is used by most lending institutions and credit card companies to evaluate you and decided if you are a good credit risk.


There are various ways you can go about getting your free credit report.  You can go to any of the credit reporting agencies’ websites:  www.experian.com, www.equifax.com, or www.transunion.com.  There will be links there that can guide you through getting your free credit report.


Probably one of the easier ways, however, to go about it is to visit either of the following websites:  www.annualcreditreport.com or www.freecreditreport.com.  They will guide you through the process by asking a series of questions and asking personal things to help determine that you are who you say you are.  Within a few moments, your free credit report will appear on your computer screen and you will be able to save it to your computer and print it out so you can check for any mistakes.


Many people feel that the FACT act is one of the best pieces of legislation to come into effect in a long time.  Many years ago, the everyday consumer would have to pay money to see their credit report.  The information was almost held hostage unless that person wanted to “pay up”.  The FACT Act was written and passed to prevent this.


Legislators agreed that people should have access to information about them and that they deserved to be able to see what the credit reporting agencies have compiled about them.  So now, each and every American can get a free credit report each year.


We urge you to get your free credit report right now if you haven’t already.  It is how lending companies decide if you can get a car loan, a home loan, or a line of credit.  For many Americans, this is very important.  So, go get your free credit report and stay on the road toward having a clean credit record.

www.simplecreditonline.com