The first step to get started is to obtain copies of your credit reports from all three credit bureaus. Consumers are entitled to a free copy of their report once each year, depending on which region of the country you live in. You can use the Annual Credit Report site, but I have a couple of caveats.
First of all, the domain name is confusing. Be careful that you request your report from the real Annual Credit Report site and not another site that charges you money for the report. (My link above will take you to the correct site, by the way.)
Further confusing the issue is that you still have to pay for your score, which is not included with the free reports every year. So if you wind up on a website that requires you to pay for something, you are probably not on the correct Free Annual Report webpage.
Second, I think the credit bureaus have set up the online request process to make it difficult for you to get your reports. I’ve personally never been able to get my Equifax report because I couldn’t answer the questions about myself correctly, which I find strange….it is my information, after all!
The online portal was probably set up to cut down on the credit bureas’ administrative burden under the law. It probably costs them a fortune to process all the investigation requests and the fewer requests they get, the better.
Because of these two issues, I suggest you send a written request to the credit bureaus instead of using the online request site. I’ve used this form, which I’ve downloaded directly from the Free Annual Report site to successfully request all three reports:
Free Annual Credit Report Written Request Form
You only have to print it out once and send it in to the address on the form to get all three of your free reports. I suggest you use a tracking service, such as certified mail, to make sure the credit bureaus receive it. Then wait for the reports to arrive in the mail.
You are only entitled to one free report each year, and if you’ve already used your one-per-year request, you will need to pay for the reports, which could add up if your dispute process lasts longer than a few months, because you may have to pay for additional reports and scores.
Last year I subscribed to credit monitoring service that allows me access to my credit reports anytime I want. I use True Credit and have actually been happy with the service overall. They send alerts every time something changes. (Disclosure: I was not paid anything to mention True Credit!)
It might actually be cheaper to subscribe to a service than paying for multiple credit reports while you clean up your credit. Do the math on this and see if it makes sense for you. I didn’t initially think the service would be that useful, but I think it will be useful in documenting the changes in my own credit score.
DISCLAIMER:
****CHRISTINE SPRINGER IS NOT A LICENSED ATTORNEY OR FINANCIAL ADVISOR. THIS BLOG IS COMPRISED OF HER OPINIONS, OBSERVATIONS AND INTERPRETATIONS AND IS NOT INTENDED TO BE CONSTRUED AS LEGAL OR FINANCIAL ADVICE. PLEASE CONSULT WITH AN ATTORNEY OR FINANCIAL ADVISOR BEFORE RELYING ON OR TAKING ANY ACTION BASED ON THE INFORMATION IN THIS BLOG.****
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