Access to a Free Copy of Credit Reports
Contributed by Melanie Vannuys
Access To A Free Copy Of Credit Reports
Thanks to the Fair Credit Reporting Act (FCRA), more and more consumers are gaining access to a free copy of their credit report. The act requires that each credit bureau, Experian, Equifax and TransUnion, provide you with a free copy of your credit report once every twelve months, at your written request.
In recent months, consumers who are concerned about the details of their credit rights, have contacted the Federal Trade Commission (FTC), the nation's consumer protection agency, under the Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act, or FACT. The Fair and Accurate Credit Transactions Act is actually responsible for establishing the free copy of the credit reports.
Beginning in December of 2004, the roll-out began in the Western states. Over the next year, the option for others to get copies of their credit report will become available. By the time September 1, 2005 rolls around, free copies will be available to all Americans.
How Do I Know When I Can Get A Free Copy Of My Credit Report?
Depending on where you live, you may already be eligible. In order to protect things from going into overload and meltdown, the powers that be decided it best to roll-out the free credit reports a little at a time. The following time line applies:
Beginning December 1, 2004, Western state consumers can gain copies of their credit reports. This includes: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington State and Wyoming.
Beginning March 1, 2005, Midwestern states are eligible, including: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
Beginning June 1, 2005, Southern states can join the ranks of consumers with free credit reports. These include: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee and Texas.
