Credit Report Information Facts to Avoid Identity Theft

Khali S. Credit Report Information Facts to Avoid Identity Theft
The time will come when you would need to borrow and take out a loan to finance certain projects such as a car or a house. In order for lenders to give you your loan, a credit report information will be one of the things that can help them come up with a good decision. But most of the time, unscrupulous people can use your credit report for their own purposes. So it is important for you to take control of your credit report information to avoid identity theft.
Errors can and may appear in your credit report information. One of the reasons is mistaken identity. Another person may have the same name as yours. Another reason is identity theft. This is a serious matter since another person has intentionally acquired access to your personal information and may get credits at your expense. According to the Federal Trade Commission, nearly 10 million people were victimized by identity theft in the year 2002. Nowadays, it continues to increase.
If you are a victim of identity theft, you should get a copy of your credit bureau report from each of the credit bureaus, which is free. When the alert reaches the creditor, they will contact you to countercheck your credit report information. In some States such as California, Louisiana and Texas, freezing of credit reports can be applied.
A credit report is a report of a credit bureau on a person's credit history. It is used by a lender to determine if the credit applicant is worthy of any credit. This report is used credit card companies as well as landlords and other lending companies to profile a person. A credit report contains the holder's vital information like birthday, address, phone numbers, Social Security number, manner of paying bills, employment information and others. Some companies offer credit report information through an e-mail alert notification when there are any alterations done with the holder's credit bureau report.
A credit bureau report can be ordered at any credit service company or at the credit bureau itself. It can also be obtained through the internet. Credit report companies online are independent of each other. Thus, the information included in one may vary in other companies. Some reports are easier to read, some are not. Therefore, if you want convenience, you must select the company that have quality features. Another thing that you can do is to compare the reports or their samples. That way you can be assured of the result.
There are some facts that may not appear in your credit report. Examples of these facts are medical information, debts contracted for more than seven years and notice of bankruptcy. In California, records of arrest, information, complaint and misdemeanor may be removed after seven years. However, under federal laws, criminal conviction records will remain in the credit report information indefinitely. If the request is from a current or prospective employer, then the marital status, race and age of the holder of the credit bureau report may not be included in the report.
There are also some credit report information that can be recorded even beyond the seven year deadline. This includes a credit transaction that may involve $150,000 or more; application for life insurance or credit of $150,000 or more; or job information involving a salary of more than $75,000.
You have the right to access your credit bureau report. The federal and state laws mandate this. To obtain a copy of it, just write or call the credit reporting agencies or order online. You will be charged depending on the State you're located. In California, the rate is $9.50. On the other hand, in Colorado, Georgia, Maine, Maryland, Massachusetts, New Jersey and Vermont, they will not charge you a penny.
As a word of caution, check credit reports to avoid being defrauded and taken advantaged of.


About the author:
Khali S. is the founder of http://www.no-KhaliS. is the founder of http://www.no-cost-credit-report.com- information site that shows you all about free credit reports, which companies to avoid and Free Tips & Tricks to boost your credit score legally