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Easy steps for obtaining a credit report

By Janet Lacey
Published: Sunday, April 8th, 2012

When you apply for a loan or a credit, you have to learn what a credit report is. Money lenders use the credit reports in order to keep the burrowers updated regarding the money they still owe, as well as to alert other financial institutions that offer loans and credits about all the bad burrowers. The credit report shows a financial institution every financial activity you have performed in the past 7 years. A financial institution that is about to offer you a loan or a credit will know everything about your past car loans, mortgages, home loans, credit cards and store accounts. Bankruptcies also appear on a credit report and they will be present for 10 years. The credit report basically shows everything you have done in the past 7 years: whether or not you have late payments and whether or not you are in a good standing position as a burrower.

Since 2005, it is possible to obtain the credit report in order to see what is says about you. The law issued in 2005 is extremely useful as there have been numerous cases in which people had negative credit reports due to mistakes committed by banks or financial institutions. By having the credit report in your hands, you can check for possible mistakes and you can highlight the real mistakes you have committed in the past few years. In this way, you can improve some of the wrong things you have done and correct them.

In order to obtain the report, there are a few easy steps that you have to follow. For example, the first thing you have to do is to find the Annual Credit Report. It is an organization that can be found on the internet. The official webpage puts an online form at the disposal of those interested in obtaining a credit report. Just fill out the form and make sure that you don’t commit any mistaken when you complete the name, the address, the date of birth and all the other information required by the form. You can be sure that nothing bad will happen with the information and that nobody is going to steal it and use it for illegal purposes, as the website is secured. There are three different credit reporting agencies and you can choose to receive a credit report from each one of these three agencies. Choose the number of reports that you want to receive.

The next step is to find the telephone number at which the Annual Credit Report can be contacted. By calling the organization, you get the chance of receiving the free credit report offered every year. You will be asked some verifying questions, so get ready to answer them. If you want to receive the report by mail, then you have to download a request that can be found on the official Annual Credit Report website. After you do this, you receive the report in 15 working days. As you can see, it is very simple, so you should not worry about obtaining the credit report.

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