People in Antioch, Walnut Creek and Hercules frequently ask, “How do I know what’s on my credit reports?” The answer is to get a free copy of your credit reports. As soon as anyone hears “free” they immediately think what’s the catch? I think that too. When it comes to credit reports, the Fair Credit Reporting Act requires that consumers be given access to their credit reports once every 12 months. The Federal Trade Commission established www.annualcreditreport.com to give consumers easy access to their credit reports, no strings attached. To get your reports, you’ll need internet access and will be asked several questions about your finances. Most people get copies of their credit reports in under 10 minutes. Unfortunately, the credit reports made available to consumers do not include the three digit FICO score generally used by auto and mortgage lenders.
Often people considering bankruptcy assume their credit reports are a mile long and all bad. Most of the time people find their credit reports are not as bad as expected. Usually this happens because derogatory items were never reported or were removed after 7 years.
Maybe you’re thinking, “My credit is good, so why bother?” Regularly reviewing your credit reports can help you ensure your good credit is ready when you need it, catch signs of identity theft early, and even alert you to misapplied payments or other lender mistakes.
At the Law Office of Michael Primus, we have helped hundreds of clients get out of debt, stop wage garnishments, and start fresh through bankruptcy. If you live in Contra Costa County and have debt problems, contact us for a free in-office consultation. We Have offices in Walnut Creek, Antioch and Hercules.