This is where it all starts, if you want to get control of your financial future start here. Get your credit reports for free and check them for accuracy. In our next newsletter we will tell you what to do about the errors. This is the first step you must take in order to move forward. Credit reports are used by almost everyone not only banks that are extending credit but future employers, insurance companies, property managers and the list goes on.

Because credit reports contain information about you, it only seems fair that you should have the opportunity to examine these reports for accuracy and truthfulness. Fortunately, Congress agrees with this. Therefore, the FCRA guarantees you access to the information contained within your credit reports. Credit reports aren't required to show you the actual report that they send to creditors, but they'll generally allow you access to most of the information.

There are several ways for you to get your credit reports for free. First, everyone is entitled to a free report from consumer reporting agencies every 12 months. In addition, you can get free credit reports if someone used the credit report to deny you something. Finally, you can get free credit reports pursuant to state law in several states. Let's look at each of these methods.

Among other things, the Fair and Accurate Credit Transaction Act of 2003 ("FACTA") requires consumer reporting agencies to provide a free consumer report to consumers every 12 months. This applies to all consumer reporting agencies, including the Big 3 and the specialty consumer reporting agencies.

To comply with FACTA, the Big 3 - Equifax, Experian, and Trans Union, set up one central web site, one toll-free number, and one mailing address through which you can order your free credit reports.

The easiest way to get your free credit reports from the Big 3 is to order them online at the centralized web site - http://www.annualcreditreport.com.. At this site, you can order one, two, or all three credit reports. You must provide your name, Social Security Number, and date of birth. In addition, for privacy purposes, each credit bureau will request identification information that only you would know, like the amount of your monthly mortgage payment or when you opened an account.

(http://www.annualcreditreport.com. is the only web site authorized to provide free credit reports from the Big 3 pursuant to FACT. There are many web sites that have sprung up to take advantage of consumers seeking to get their free credit reports. These sites typically have similar sounding names, but then attempt to sell you reports or credit monitoring services. Don't get fooled by this!)

You can also request your free credit reports by telephone, by calling 1-877-322-8228.

Finally, you can order your free credit reports by mail. To do this, you must mail the "Annual Credit Report Request Form" to the following address:

Annual Credit Report Request Service

P.O. Box 105281

Atlanta, GA 30348-5281

Sample Request Sample Request Letter

The FCRA provides that you are entitled to a free credit report if some "adverse action" was taken against you, based at least in part, on the credit report. This could include having a request for credit, insurance, employment or rental housing denied. It could also include a current creditor's action in raising your interest rate or lowering your credit limit.

Whoever took the adverse action against you must tell you why, and give you the name and address of the credit bureau that supplied the credit report. Then, you have 60 days to request a free credit report from that credit bureau.

In addition, you are entitled to a free credit report for the following reasons:

(1) You certify in writing that that you are unemployed but that you intend to apply for employment within the next 60 days;

(2) You are a recipient of public welfare assistance;

(3) You have reason to believe that your credit file contains inaccurate information due to fraud; or,

(4) You have received a notice from a debt collection agency affiliated with that credit bureau that your credit rating may be, or has been, adversely affected.

For your use, we have included sample letters that request your credit reports for free in Diagrams 5-2 and 5-3.

Some states have laws that allow you to get additional free credit reports. At this time, if you are a resident of Colorado, Maine, Maryland, Massachusetts, New Jersey, or Vermont, you are entitled to one free credit report from each of the Big 3 during any 12-month period. This is over and above the free credit report that you're entitled to receive under FACT. And, if you're a resident of Georgia, you're entitled to TWO free credit reports each year, over and above your free FACT credit report.

If you've already received your free credit report under FACT, and it's been less than 12 months since you received it, and you're not entitled to a free report for some other reason under FACT or state laws, then you'll need to pay for additional reports. How much you pay varies by state. For your reference, I've included a current chart of fees, by credit bureau and state. (But remember, these fees may change, so make sure that you check with each credit bureau before you order your report from any of the credit bureaus. For the current fees, assuming that the web sites don't change, check these sites:

https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=elearning_credit14 (Equifax);

http://www.experian.com/credit_report_basics/check_your_credit.html (Experian);

http://annualcreditreport.transunion.com/tu/stateDisclosure/stateSelection.jsp (TransUnion).

To order your credit reports, other than your free credit reports from https://www.annualcreditreport.com, contact the credit bureaus with the following contact information:

You can order your Equifax credit report online at the following address: https://www.equifax.com. For now, just order your "Equifax Credit Report." Don't order any of the other products - I'll tell you why in a later chapter.

If you're requesting a free or reduced fee credit report, you cannot order you're your report online. Equifax charges a $10.00 "service fee" for accessing your report online. Therefore, you'll need to order you report by phone or mail.

You can order your Equifax credit report by phone by calling 1-800-685-1111.

You can order your Equifax credit report by mail. Make sure you include with your request your full name, current address, Social Security Number, and most recent former address, and if applicable, a check made payable to "Equifax Information Services LLC", based on your state's fee. Send your request to:

Equifax Information Services LLC

P.O. Box 740241

Atlanta, GA 30374

You can order your Experian credit report online at the following address: https://www.experian.com/reportaccess/. You CAN order a free or reduced fee credit report online. For now, don't order any other products, just your credit report.

You can order your Experian credit report by phone by calling 1-888-EXPERIAN (1-888-397-3742).

You can order your Experian credit report by mail. Make sure you include with your request your full name, current address, Social Security Number, and most recent and former addresses within the last two years. Experian also requests that you enclose with your request a government issued identification card, a driver's license, for example, and a copy of a recent utility bill. If applicable, send a check made payable to "Experian" based on your state's fee. Send your request to:

Experian

P.O. Box 2104

Allen, TX 75013

You can order your Trans Union credit report online at the following address: https://www.transunion.com. You CAN order a free or reduced fee credit report online. For now, don't order any other products, just your credit report. (Of course, trying to order JUST your credit report, without other add-on products, is very difficult. Try these addresses if you have problems:

http://annualcreditreport.transunion.com/tu/disclosure/disclosure.jsp?loc=1470

http://annualcreditreport.transunion.com/tu/disclosure/order.jsp?package=TransUnionPaidDisclosure

You can order your Trans Union credit report by calling 1-800-888-4213.

You can order your Trans Union credit report by mail. Make sure you include with your request your full name, current address, Social Security Number, most recent and former addresses within the last two years, date of birth, current employer, phone number, and signature. If applicable, send a check made payable to "TransUnion LLC" based on your state's fee. Send your request to:

TransUnion LLC

P.O. Box 1000

Chester, PA 19022

So, get your reports ordered and in our next newsletter we will discuss how to make corrections and dispute inaccurate information.