Loans for people with bad credit

It is important that everyone monitor their credit report. Why? There are two main reasons… identity theft and reporting errors.

Unfortunately, identity theft is on the rise. There are thousands of new cases reported every day. Many of these cases are so severe that it takes years of struggle to rectify the situation and restore credit.

A great number of cases could have been ‘nipped in the bud’ early on, if only credit reports would have been checked on a regular basis.

Everyone is entitled to one free credit report, from each of the three major credit reporting agencies, per year. These agencies are Equifax, Experian and TransUnion.

It is recommended that all three credit reports be checked, on a quarterly basis. The expense involved in obtaining the second, third and fourth set of reports is minimal compared to the damage theft of error could cause.

Free credit reports can be obtained online, simply by completing a short form, for each agency. As a rule, the reports can be viewed immediately… unless further verification is required.

It, in fact, verification is required reports are mailed to the consumer. It’s a rather quick process that takes only a few days, at most.

Filed under: Advice, Finance by John Terino