By Jeffrey Ragan

When you are going to do your own credit repair, you should understand the Fair Credit Reporting Act. It is commonly known as FCRA. This Act allows for you the consumer to obtain your credit report at least once a year. So when everyone is looking for credit repair tips, I like to share this one. You need to see your report before you can begin. Also with all the identity theft out there, it is a good idea to look at this report regularly.

The FCRA requires the accuracy and privacy of all the files about you that is kept by these credit reporting companies. There is another agency that works for your protection. It is the Federal Trade Commission (FTC). They are involved to enforce FCRA so that your records are as accurate as possible.

Why does this matter to me?

Well think for a moment. What type of information is contained on your credit report? It tells your address, how you pay your bills, if you filed for bankruptcy, and even if you’ve ever been sued or arrested. These nationwide consumer reporting companies sell the information on your report to creditors, insurance companies, employers and other types of businesses that use credit to evaluate you as a person.

The Fair Credit Reporting Act was originally enacted in 1971. As one of your rights you have the option to get a free credit report one a year.

Be Careful in Getting Your Free Credit Report

There are many websites that offer a free credit report. Be sure to read the fine print carefully. Once you are signed up for the free service, after your trial period, you will be billed on your credit card. If you do not cancel before the trial period is over, you will be agreeing to allow them to charge your credit card for the monthly monitoring service. Some of you many really want this so you can monitor your credit. But if you do not, be sure to cancel before the trial period is up.

A warning sign is if you to give credit card information when signing up, it many not really be free! Why would they need your credit card information? That’s a signal there is a fee coming, so be watch for this.

Now one way they do this is by directing you to another site without you being aware of it. They do this to obtain information so they can try to sell you another service. So don’t give them any credit card information. All you want is your free credit report. You should be able to get this without providing a credit card!

Credit Repair Tips Conclusion

You will need your credit report to evaluate its accuracy. Check it out closely! Report anything that is wrong. This is the beginning of managing your credit history. Since there are so many things that look at credit today to estimate your value to them, like prospective employers, auto insurance, as well as any lenders, you want to make sure your information doesn’t reflect badly.

Thus take advantage of the FCRA law and get your report at least once a year to stay on top of your financial history.