Protecting Your Credit

Credit reports contain information about a person’s financial life, such as bills and bankruptcies. In addition to containing information, credit reports may also affect a person’s ability to get a credit card, a loan or a job. Thus, the FTC explains the importance of periodically reviewing one’s credit report to make sure the information is accurate and to help protect against identify theft.

The FTC also informs consumers that amendments to a federal law called the Fair Credit Reporting Act require the three nationwide credit reporting companies (Equifax, Experian and TransUnion) to provide consumers with one free copy of their credit report each year, at the consumer’s request. For details on how to obtain your free credit report, consumers can visit the FTC’s website at http://www.ftc.gov/credit.

Just as it is important to review one’s credit report, it is also important to report errors as soon as possible. The FTC provides detailed information on how to dispute errors and make sure that one’s credit report is accurate. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.shtm

By staying informed and proactive about credit report information, consumers can help protect themselves against credit errors which could have significant financial consequences. -Meredith Phillips (205)912-8244
Blankenship Harrelson, LLP