Did you know that under the US government’s Fair and Accurate Credit Transactions Act (FACTA) all US citizens residing in the States are entitled to get free annual credit report from the government? What is free credit report and government role in this process? This is a real boon for people who can’t afford the fees that are usually required to access such reports. Previously you had to pay to see your credit rating and if you are strapped for cash (which is why you usually need such a report), then the fees for obtaining a report on your credit status are not affordable.
Once you have obtained your free annual report (note that it is annual, so you can only do this free once a year) you are in a better position to see how to manage your financial situation and fix any erroneous data that may have put you on the black list. These annual reports contain information from the credit bureaus, e.g. Experian, Equifax and TransUnion and all US citizens can get free annual credit report. This enables you to check your credit rating and credit score for factoring and understand why it is poor. It can also help those who want to apply for a mortgage but are not actually sure what their credit rating is. It’s best to check before approaching a mortgage lender and risk being turned down, which will lower your score even further.
You can get a free report just once a year, though, you can have other reports, but you have to pay for them. The credit bureaus are only obliged by law to give you one free report per annum.
A word of warning: there are websites which advertise their services, claiming that they can provide the annual credit reports to Americans. These claims are false, so avoid such websites that are out to get cash from the unsuspecting or, perhaps out to steal their identities. Never give personal details online when you are not in a secure site (look for the lock symbol at the bottom right-hand corner of your screen). If you want the best way to get a free report online, visit annualcreditreport.com. This is the legitimate site and will provide you with a free credit report. It’s easy to access and navigate the site, so your report is actually only a few clicks away as well as factoring and invoice discounting.
Another best way to get a free credit report is to search through the official site of the three credit bureaus as listed above. Once you access the site you can email or call to get your free annual credit report.
Please, click here to find out more how to get a free annual credit report and read further what free credit report government role is.