Photo by Alec Peden.

If you are curious about your credit report like I was, you’re probably thinking about your options for finding out about it. Apart from a major purchase like a house or car, there aren’t many opportunities to just look it up. Enter sites like AnnualCreditReport.com, Credit.com and FreeCreditReport.com. If you search for “free credit report” on Google, about 23 million results pop up. Everyone wants to give you your report… the trick is, you just have to ask.

To give you some back info into how obtaining credit works: everyone’s credit history is tracked and rated by three national credit reporting companies; Experian, Equifax and TransUnion (sounds like a railroad company right?). A law signed in 2003 called the Fair and Accurate Credit Transactions Act (FACT Act) allows consumers to get one free comprehensive disclosure of all credit history from each of the three national credit reporting companies once every year. AnnualCreditReport.com is the central source by which you can get your free report.

Five minutes of filling out a couple forms will get you access to your credit reports from the three credit reporting companies, but AnnualCreditReport.com does not give out your credit score (that 3-digit magical number), just the reports. Once you’re in, it’s a good idea to print these reports to study for mistakes or just to save for your records. Read more…

Within the last twelve months, 9.3 million Americans were victims of identity theft. While this may seem like a lot, it’s actually a decrease from past years. But what is growing is the monetary loss associated with each theft. Fewer identities are being stolen due to more people knowing how to protect themselves. But if you are ever unlucky enough to be struck by identity theft, here are a few things you can do to gain back your good name.

If you are ever the victim of identity theft, first go to the police and file a report. The reason you need to do this is simple: to establish the time of discovery and what actions you have taken since the theft. Give the police copies of all relevant documents pertaining to the case. Be as detailed as possible when listing all your creditors, cards and anything else affected. And obtain a copy of the police report, to refer back to later.

The next step is to contact the credit reporting agencies; Experian, Equifax and Transunion. This will place a 90 day fraud alert on your identity. If anyone tries to open a line of credit, you will be contacted to verify your information. They will also issue you your credit reports. Once you get a copies of your credit reports, review each report and list all creditors affected. Contact those creditors directly and tell them of the theft. Close the fraudulent accounts and dispute any charges.

Lastly, file a complaint with the Federal Trade Commission. By sharing your identity theft complaint with the FTC, you will provide important information that can help law enforcement officials across the nation track down identity thieves and stop them. Read more…

Becoming a co-signer on a student loan for a friend or family member can be a very charitable gesture. But co-signing a student loan for someone is more than just giving your signature. You are putting your financial history on the line for that person. Before you sign your name on that line, there are a few things you should know about being a co-signer.
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