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Can a debtor do credit monitoring on his own?

By Derek Brown
Published: Monday, November 2nd, 2009

Credit monitoring can be done by an individual on his own without bearing the charges involved in hiring a regular credit monitoring agency. Monitoring credit report without taking the help of any credit monitoring agency costs 288$ for a year with 8$ costs for a single report from a bureau.

Monitoring credit without any external help is a time consuming process. Reviewing a report only one time in a year as prescribed by the FACTA act is not sufficient. For prevention of any kind of an identity theft, its necessary that reports are reviewed twice a year. If a debtor has shared his social security number with some one else and is indulging in frequent debt, it becomes essential that he checks his credit report once per quarter.

A debtor is supposed to check every entry on his report for accuracy, which is not feasible if he has no understanding of such entries. A debtor is likely to forget ordering reports from a credit monitoring agency if he leads a hectic life.

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