If you have bad credit, you are in need of some major repair. Don’t believe all that you hear about credit repair companies.

To find out if you have bad credit, you first need to obtain a free credit report from each of the three major credit reporting agencies – Equifax, TransUnion and Experian. In the process, you’ll also want to purchase a credit score.

In today’s financial climate anything below 650 could be considered a low credit score. If yours falls below that number, scrutinize your free credit reports for inaccuracies, incomplete information and inquiries that you did not approve. At this point, one of your options would be to hire a credit repair company to address your findings and get your score back on track.

Myth #1: Credit Repair Companies Are Scams

No, not all credit repair companies are scams. There are some very reputable ones out there. Some things to watch out for are claims that they can remove ALL bankruptcies, liens, judgments and negative information from your credit report. If they make those claims, then they are not being honest.

Credit repair companies provide a service whereby they interact with major credit reporting agencies to resolve negative impacts to your credit report and score. They will address the inaccuracies and make sure that appropriate corrections and updates are made to your credit reports. This is how the process works:

* You provide the company with a copy of your credit reports.
* They make recommendations as to which items you should dispute.
* They work directly with the credit reporting agencies to dispute the items.

Credit repair companies can only have inaccurate information removed and items that exceed the statute of limitations for reporting those items. In addition, you should never pay a credit repair company until they have completed their services. Before selecting a company, ask them up front what their fees are and when they collect. Get it in writing. If they want payment before their work is complete, then they are not abiding by the Fair Credit Reporting Act (FCRA).

Myth #2: You Have to Hire an Attorney or Company to Repair Your Credit

This is absolutely false. Of course, you may choose to hire an attorney or credit repair company to address the disputes for you if you so desire.

You are not, however, required to hire an attorney or a credit repair company to repair your credit for you. This is something you can do yourself. It will just take some time and effort on your part.

Myth #3: It Is Both Complicated and Difficult to Repair Your Credit

This, too, is incorrect. It is actually simple and easy to repair your credit. It will, however, take some effort on your part to do it right.

There is certain information you should include in your correspondence with the major credit bureaus to ensure that the specific items you need changed are actually changed. The process is quite simple. You just do the following:

* Obtain copies of your credit reports from all three major credit bureaus.
* Identify inaccurate, outdated, incomplete information and inquiries you did not authorize.
* Circle all information you want disputed.
* Write a letter with all the disputed items noted.
* Send a letter to each credit bureau with the appropriate information noted, along with copies of the respective, circled disputed items and any supporting documentation. Make sure you send a copy and keep the originals for your own files.

Myth #4: You Can Repair Your Credit INSTANTLY!

Ummm, No. You cannot repair your credit instantly. Anyone who ever tells you that is either being incredibly optimistic or is flat out lying.

It takes time to repair your credit. Some credit bureaus can verify the correct information in a fairly short amount of time, but not always. They have 30 days to respond once disputes are received. If they do not respond within that timeframe, they have to delete the information from your credit report.

Credit repair companies cannot repair your credit instantly, either. They can, however, ensure that your credit report is corrected within the timeframe allotted by law. Once their communication with you has determined which items you will be disputing, they will submit their findings to the major credit bureaus. The major credit bureaus have 30 days to verify the information and make any required changes to your credit report.

There are innumerous credit repair companies out there that advertise their services. Below are several who are considered reputable by many in the World Wide Web world.

Lexington Law
Hdqt. in Utah – Locations throughout the U.S.
800-214-0922

Sky Blue Credit Repair Services
Delray Beach, FL
800-790-0445

DSI Solutions
Whiting, IN
866-382-3410

Ovation Credit
Jacksonville, FL
866-639-3426

Veracity Credit Repair
Denver, CO
866-518-2194

Apex Credit Services, LLC
Saint Albans, WV
888-727-4818

My Credit Group
San Marcos, CA
800-430-7494

Academy Credit
Farmington, UT
800-857-5268

Identity theft is a crime. Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain. Anyone with personal identification is at risk of identity theft and fraud and should take careful steps to protect themselves. As a responsible and careful consumer, you can take precautions to protect yourself from identity theft.

A Backdoor into Your Finances

Your fingerprints are unique to you and cannot be given to someone else for their own personal use of gain. The same cannot be said of your personal data. This includes your Social Security number, your bank account or credit card number, your telephone calling card number, and other forms of valuable identifying data. Your personal identifying information can be used alone or together when they are stolen and used for personal profit and at your expense . This information is easily harvested from multiple areas of your life, even something as simple as your garbage can at work or home.

Also referred to as identity theft, identity fraud or stolen identity, it is a problem of large proportions and not soon to vanish. The Federal Bureau of Investigation (FBI) tells us that this is and will continue to be the fastest growing crime in the United States. It will effect one in five U.S. Citizens this year alone and cost the economy billions in lost revenue.

Steps You Can Take To Protect Yourself From Identity Theft

While all identity theft, especially as these criminal outfits increase their sophistication and data mining efforts, is impossible to eliminate; there are steps you can take today. Follow these simple points to help keep your identity and private information guarded:

Shred all mail before trashing. Remember to do this both at home and at the office.

Do not reply to or complete unsolicited offers for anything such as credit cards, sweepstakes, etc. Be aware this rule applies both online and in the mailbox.

Check your credit report often and scrutinize it diligently for accounts that may possibly be fraudulent. Staying on top of your credit report not only can avoid identity theft, but will also help you stop it before it inflicts significant damages to your life.

Do not use un-secured wireless networks such as those found in malls and some coffee houses. While convenient, everything you are looking at can easily be recorded by someone else such as email accounts, online banking, etc.

Try a well-reputed credit monitoring company to keep a 24-hour watch on your credit profile. A small investment for sure-fire identity protection.

The Potential Damage of Identity Theft

It is well known that internationally, there are daily reports of unauthorized persons taking funds out of their bank or financial accounts, or, even worse, people have taken over their identities altogether. At your expense these criminals are running up vast debts and committing crimes while using the victim’s names. And the expenses are large, too. This includes out-of-pocket financial losses and, also substantial financial costs. This is the result of the victim attempting to restore his reputation in the community and correcting the false information that the criminal has stolen and used.

In America, there are thousands of people each year who report that they have been the victims of identity theft. On top of this fact, there are many identity theft-related crimes that are not even reported! Believe it or not, because of the huge cost associated with fixing this crime, the victims are embarrassed to claim that this has occurred. To date, victims who have reported this crime have spent more than 175 hours and more than $10,000 per incident just to resolve these problems. It is obvious by these facts that the consequences of identity theft and fraud can be staggering! There are many steps that you can take today to protect yourself from ever having to deal with this crime.

The Fair Credit Reporting Act (FCRA) provides that anyone wanting access to your credit report must demonstrate a “permissible purpose.” This generally includes any person or business that needs to know if you pay your bills and are deserving of additional credit or a new loan. Those with a permissible purpose include credit card issuers, savings & loans, banks, and credit unions.

If you are trying to rent a house or apartment, your landlord has the right to verify your credit. As a practical matter, many leases and rental agreements include a clause that grants permission to the landlord to perform a credit check. Insurance carriers may access your report before they underwrite a new policy. If a legitimate debt has been assigned by one of your creditors to a collection agency, that agency can obtain your report.

The government can access your report if you have some form of business connection that has financial implications. This includes agencies that oversee child support enforcement and those that issue licenses and grant government-funded financial benefits. You have the right to obtain your own report under federal law. You may request one every year at no charge from each of the three major credit bureaus. It’s a good idea to review your report on a regular basis to ensure that it is correct.

Who needs permission and who doesn’t?

If the permissible purpose is present, then your permission is not required for any of these entities to get your report. They can contact any of the credit bureaus and purchase your report by demonstrating their need for the information. This usually happens when you apply for a loan, credit card, or insurance policy. To avoid problems, many lenders include a credit check clause in the application that notifies you in advance that they will do a check before approving your loan. You should be aware, however, that they are not required to do this if they have a legitimate need.

There are instances where your advance permission is required such as an inquiry by a prospective employer. Since employers aren’t in the business of lending you money, their purpose is more related to your financial status and stability. Therefore, they will see a modified version that only contains information directly related to your financial affairs. Many employment application forms contain a provision that enables their inquiry, so it’s your decision on whether or not you want to grant them access. As a general rule, you should grant access to your report when it will directly benefit you, and deny access when it will not.

How do I know who obtained my credit report?

Each time your report is released, the inquiries section will display a flag with the name of the requester. The report may also include the address of the requester. Your goal should be to minimize the number of inquiries since this can negatively impact your credit score. The implication is that frequent inquiries may signal a current or pending problem with your ability to get credit. A “hard pull” occurs when you submit a loan or credit card application and the lender requests your report. This stays in your file and can cost you about five points on your score for the following six months. To avoid this problem, you should only apply for credit you really need and try to use one source rather than several to get the amount desired.

A “soft pull” occurs when someone simply checks to see if you might pre-qualify for a new loan or credit card. It doesn’t affect your score because it’s an informal check that may never result in new credit being extended. Soft pulls are used as a screening device by some banks before they will open a new account, and employers as part of their background check. Also, requesting your own report will not affect your score.

What happens if someone obtains my credit report illegally?

The Federal Trade Commission (FTC) has enforcement authority over the Fair Credit Reporting Act(FCRA). If anyone obtains your report under false pretenses, they may be prosecuted under federal criminal statutes that provide for both fines and possible imprisonment for up to one year. Your best defense against this type of activity is to request a free copy of your report every four months. Anyone requesting your report must have either a permissible purpose or your advance consent. If you see any entries on your report that don’t seem to fit in either category, you should report this to the credit bureaus and to the FTC.

If you suspect that you are a victim of identity theft, you also have the option of instituting fraud alerts and placing a freeze on your file. Under a security freeze, the credit bureau is prohibited from releasing your report without your written authorization. The only exceptions are requests from those holding your existing accounts. You may also request that the bureaus not share your information with any marketing entities that are in the business of selling credit.

Your personal credit report is the most important piece of information about you, financially speaking. Its information will impact your ability to borrow money, get insurance, and even secure employment these days. Your credit report is constantly changing as you make and meet financial obligations, or worse, fail to meet them. Monitoring your credit report is a tool you can use to watch these changes. Make sure nothing incorrect ever enters onto your report in the first place. Additionally, this is the best protection against heading off identity theft, according to the FBI.

How Credit Monitoring Functions

Credit Monitoring Firms are independent companies. They do not work for the credit bureaus nor do the work for potential lenders. They simply exist to monitor your credit and they keep an eye on any potentially negative or fraudulent changes. These services operate by informing you via email of any additions, such as new loans or negative items from lenders. You will typically have the option to choose how often you would like to be monitored, whether it is daily, weekly, or on a monthly basis. Based on these terms, your credit monitoring service will request a copy of your credit report. Then, any new information will be sent to you to verify.

For example: Someone using your identity makes a loan inquiry at their local BMW dealership to make a vehicle loan in your name. While the application will not be alerted, once the thief makes the purchase, you will be notified by your credit monitoring service.

The Advantages to Knowing Immediately

The U.S. Department of Justice reports that on average a consumer finds out that they have been the victim of identity theft quite late. This typically happens after the thief has been using your identity for a minimum of 14 months. In this time your credit report, and your personal finances, can be impacted with drastic results. In contrast, by being alerted immediately, you are enabled to stop the crime immediately in its tracks. Typically, if you can resolve an identity theft within the first 5 months, you will incur no out-of-pocket expenses — meaning you won’t lose any actual money.

Your credit report, however, will suffer much sooner. With credit monitoring, you can know within days and remove the problem immediately, before the damage even occurs. Additionally, credit monitoring can protect you from incorrect information being provided to by your lenders. With monitoring, you will know immediately if one of your creditors has reported a late payment or other malfeasance on your report. You will also be able to see that your lenders are reporting positive information for you. Any loan or credit line you have in good standing should be reported. With credit monitoring, you be able to see immediately if they are keeping this information updated.

What to do When Unknown or Incorrect Items Appear

In the event of an unknown item appearing, such as a loan, a new line of credit or a false report by your lenders, you must act. Follow these steps to get the items removed quickly before the damage impacts your credit history:

Identify the source of the item. Is it someone taking credit out in your name or a legitimate creditor of yours reporting on you?

If your own information is reported inaccurately, from a known and legitimate account, follow these steps:

1. Contact your lender immediately, first by telephone, and inform them of the error.
2. Make copies of any information to support your claim, such as on-time paid bills and canceled checks.
3. Request the information be removed because it is an error.
4. Should they not act, make this request in writing. You can usually find the mailing address of your lender on a recent bill. Make sure to reference the negative item you are disputing, and also your account information. Include copies of all information supporting your claim.
5. If the lender does not respond, or refuses to remove the negative item; go around them. Contact the credit reporting bureaus that are reporting the negative item, and dispute the claim with them directly. Follow the same steps as above, but this time you will send this information to the credit bureaus directly.

Experian
NCAC
PO Box 9556
Allen TX 75013
888-397-3742

Equifax Information Services
P O BOX 740256
Atlanta, GA 30374
800-997-2493

TransUnion
Customer Disclosure Center
Trans Union Consumer Relations
PO Box 2000
Chester, PA 19022-2000
800-888-4213

If the item is an unknown account, it is possible someone is stealing your name to make a line of credit.

Follow these steps:

1.Contact you credit monitoring service and inform them. Request that they let you know immediately of anymore additions to your report.
2. Contact the Fraud Departments of the 3 major credit bureaus, using the telephone numbers above. Inform them that you feel you have been a victim of identity theft.
3. Contact the creditor where the loan or line of credit was issued. Request their fraud department and inform them about the theft on the account in question. This information is available by your credit monitoring service.
4. Contact your local police department and file a report.
5. Contact the Federal Trade Commission (FTC) and file a report with them.

If, like most of us, you use computers, use robust password protection for all personal information. You may think that you only have personal information on your computers at home. However, if you go online your system can be hacked. Firewalls and antivirus protection help, but if hackers can get into the Department of Defense’s system (they have) they can get into yours. If you have good password protection on your data even in your own computer, your risk of identity theft is greatly reduced. Also, someone can brake into your home and access your computer. Password protect your data wherever it is stored.

Social networks such as MySpace.com and Facebook.com, etc., are very popular, but the more information about yourself you put into the web, the greater the chance it will be compromised. Unless you need it for work, minimize your use of social networking online.

Get and use a good spyware protection program. Spybot is free, frequently updated and quite effective. There are a number of commercial programs as well. They keep out spy bots, which collect date from your computer and report it to outsiders, including identity thieves.

When you shop online use only secure sites. These will have an “https” (the s for secure) in their URL. These sites have encryption systems which will protect your data.

The next tip has been around for decades, and people still regularly ignore it. DO NOT WRITE DOWN YOUR ATM PIN. Use one you can remember without difficulty, but that is very hard for anyone else to guess. Don’t use your address or phone number. If you absolutely have to write down your pin, please don’t write it on your ATM card or a piece of paper next to it.

Almost all banks offer online bank statements and electronic bill paying. Bank statements are a prime source of personal identifying information, and you don’t need to have paper copies today. If, in spite of everything that’s been said, you still use paper bank statements and other paper documents with account numbers, etc., use them, record what you need to know, and shred the paper documents. Use a crosscut shredder. The older shredders make strips that are relatively easy to reassemble.

Home delivery of mail is convenient, but rather dangerous. A locking mail box is helpful, but most are still readily accessible. Those pre-approved credit cards you don’t want are manna from heaven for identity thieves. They remove them from the box, fill them out & send them in and get a new credit card on your credit. Use a post office box that requires a key to prevent this.

Check your credit report every 6 months. You can do this yourself or hire a company to automatically do it for you.

Opt out of credit card offers. Call 1-888-5-OPTOUT (567-8688) or go to www.optoutprescreen.com to stop such offers for five years. You can also contact the three credit reporting bureaus at the addresses listed at the end of this article.

Have your mail held when you will be out of town.

Use unlisted phone numbers and addresses.

Pay cash at retail stores to avoid using credit information unnecessarily.

In addition to the many responsibilities that the consumer has in regard to credit and the maintenance of credit status, the consumer also has rights and protections that are guaranteed by law. The most important of these regulations and protections are found in the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA). Enforcement of such laws and standards falls under the jurisdiction of the Federal Trade Commission (FTC). There are also compliance issues that should be noted, namely, the OFAC regulations and now more recently, the Patriot Act.

Equal Rights and Credit Rights

The Equal Credit Opportunity Act (ECOA) prohibits discrimination according to race or gender in regard to making credit related decisions. Each individual is to have an equal opportunity to achieve access to the credit system. In years past, minorities were frequently denied these opportunities, which is what created the necessity for such legislation. With this law in place, if you feel you have been denied credit for these reasons, you have an avenue to get help in fighting back.

The Fair Credit Reporting Act (FCRA) relates primarily to the information contained in the individual consumer’s credit file and how it can be used and manipulated. Included in these regulations are specific information listed in the credit report, how this information is used, and privacy issues relating to such information. All companies who lend money or extend credit, plus any credit information collection agency, must fully comply with the statues contained herein. This act was put forth to protect consumers from predatory lending practices, unfair consumer data collection, and other abuses which were prevalent in the industry prior to its conscription.

What These Laws Mean For You

Under the protections provided by the laws above, consumers enjoy much more protection than they have in decades past. The consumer has the right to know who has viewed his/her credit report during the past year. Because so many employers now use credit reports as a part of their screening process for potential employees, the consumer has the right to review employment related access to his credit report during the two years that precede his request.

The consumer has a right to a copy of his credit report. This credit report, under some circumstances, is to be provided free of charge. This is now the case if your credit report has been used to deny you credit or a loan. In addition, a free credit report must be supplied if the consumer was denied employment, insurance or other opportunity due to information found in the report. The consumer must make the request within 60 days from the denial. When the credit report contains fraud related inaccuracies, the consumer is also entitled to a free credit report, but only once the consumer initiates the claim.

If the consumer makes a successful challenge to credit report errors, he has the right to have the corrections to his report made within 30 days. Negative information that is, for the most part, more than seven years old is not included on the credit report. In the case of bankruptcies, however, the negative effects to the credit report can last for ten years. Deletions to credit report should normally take 30-90 days to show up. This is all known as the dispute process, and is an avenue for consumers to fight back against incorrect or fraudulent information on their credit report.

Who Has Access to Your Credit Report

The consumer has legal protections relating to who is able to have access to his/her credit report. The consumer usually must consent before a potential employer can view his credit report or be notified after. Furthermore, only those who have what is termed a legally recognized need to view the credit report are given access to it. This group would include those from whom the consumer is requesting credit, prospective landlords, and now more commonly, insurance companies. It is the responsibility of the consumer to be thoroughly informed as to exactly what his rights are. The FTC, or the Federal Trade Commission’s website , is an excellent resource for those seeking such knowledge, providing easy access to a wealth of information via the Internet.

The ECOA prohibits discrimination according to race or gender in regard to making credit related decisions. Each individual is to have an equal opportunity to achieve access to the credit system. In years past, people of color and women were frequently denied these opportunities, which is what created the necessity for such legislation.

The FCRA relates primarily to the information contained in the individual consumer’s credit file. Included in these regulations are specific information listed in the credit report, how this information is used, and privacy issues relating to such information.

The consumer has the right to know who has viewed his credit report during the past year. Because so many employers now use credit reports as a part of their screening process for potential employees, the consumer has the right to review employment related access to his credit report during the two years that precede his request.

The consumer has a right to a copy of his credit report. This credit report, under some circumstances, is to be provided free of charge. These circumstances include being on welfare or being unemployed and attempting to find employment during the 60-day period from the request for the report. In addition, a free credit report must be supplied if the consumer was denied employment, insurance or credit due to information found in the report. The consumer must make the request within 60 days from the denial. When the credit report contains fraud related inaccuracies, the consumer is also entitled to a free credit report.

If the consumer makes a successful challenge to credit report errors, he has the right to have the corrections to his report made within 30 days. Negative information that is, for the most part, more than seven years old is not included on the credit report. In the case of bankruptcies, however, the negative effects to the credit report can last for ten years. Deletions to credit report should normally take 30-90 days to show up.

The consumer has legal protections relating to who is able to have access to his credit report. The consumer usually must consent before a potential employer can view his credit report. Furthermore, only those who have what is termed a legally recognized need to view the credit report are given access to it. This group would include those from whom the consumer is requesting credit, landlords and insurance companies. It is the responsibility of the consumer to be thoroughly informed as to exactly what his rights are. The FTC is an excellent resource for those seeking such knowledge, providing easy access to a wealth of information via the Internet.

Identity theft, defined by law, is when someone uses another person’s personal information for deception or fraud. Usually this is enacted in an attempt to make money or some other sort of financial gain. Your name, social security number, bank and credit card account numbers, and other information which identifies you, are all potential data sources to steal your identity. Typical identity theft will usually involve a thief using your name to take out credit cards, personal or vehicle loans, or even to access your bank accounts. These actions can cause financial disasters, and can severely damage your credit report.

The rise and cost of identity theft nationwide

In the past decade, identity theft has surpassed all other variants of financial crimes and also the most costly. The FBI estimates that over 9.9 million people have been victimized in the past two years alone, and over 30 million over the past five. The costs are staggering: over $52.6 billion dollars have been stolen from people by identity theft. The federal government is a source that maintains statistics, information and what you should do if you think you have been a victim of identity theft.

Why you are at risk

Most of your personal information is probably already easily accessible by potential identity thieves. Anyone who has access to your accounts within various companies will also have access to your personal data. Increasing the amount of data out there through your actions will dramatically increase the likelihood you will become a victim. Learn how to limit your exposure to this crime by reducing the amount of information publicly available about you. There are simple steps you can take today to help you avoid being victimized by identity theft later.

Common ways identities get stolen

Identity thieves steal from you without ever having to meet you. When you are out in public, surfing the internet, or just paying your bills at home, you are exposed to identity theft. These common practices put your identity at increased risk:

1. Entering your credit card information over a public telephone. There have been many reports of people who position themselves to either overhear your number or witness you type it into the keypad.
2. Filling out applications both online and via the mail which comes to your home unsolicited.
3. Throwing away old bills, applications, and other personal information in your home and business garbage.
4. Completing job applications or submitting resumes.
5. Answering personal questions to telemarketers or survey takers online, over the phone and in person.

How to steer clear of identity theft

There are simple changes you can make, that will quickly decrease or even eliminate your likelihood of being victimized by identity thieves. Follow these steps:

1. shred all personal mail, bills, and account statements. all personal mail, bills, account statements. Anything that is printed on paper that contains any of your personal information should be shredded.
2. Never submit your social security number unless required by law. If asked for this information, ask why it is needed and if you can opt out of providing it.
3. Do not fill out any unsolicited applications for credit cards, discount cards, contests, or anything else that requests your personal data.
4. Do not use public computers, such as in a library or even at the office, to check your online accounts. Data sent over the internet can easily be compromised.
5. Do not maintain online accounts displaying your resume or employment applications. Request that any potential employees shred your application if you are not hired.
6. When in public, take great care when using your credit or debit card. Never say your card number aloud or leave receipts with your full number intact. Also make a habit of using your body to block others from seeing you enter your PIN number.

Of course you’re worried about identity theft. Everyone is. The prospect of having a hacker or fraudster opening up a new account in your name is scary. It could take years before you see just how devastating an effect such new account fraud could have on your credit. The fear of fraud after the Internet has led states to pass “credit lock” or “credit freeze” laws. Currently, 47 out of 50 states and the District of Columbia allow credit freezes, and the three credit unions have offered credit freezes voluntarily to states that have not passed it into law or who place restrictions on when it can be used. But before you jump into a credit lock without knowing what it would mean, take a chance to look at what this would mean.

What does a credit lock do?

In order to open a new account, a lender has to check your credit report. In effect, a credit lock or freeze blocks your report from being accessed by banks, creditors, and other lenders. This means that you cannot open any new accounts while your credit is frozen. It also means that no hacker with your sensitive information can open a new account either.

Why would I want this?

If you are worried about your name and social security number falling into the wrong hands, or have reason to believe it already has, a credit freeze is the only way to guarantee no fraudster will open a new account under your name during this time. It all but guarantees your credit’s safety from this method of attack. If you’ve already had an identity theft case, the decision will be much easier to make and face easier legal work. If you are not planning on making any major purchases or taking out a new loan during this time, then this is one of the better ways to guard against identity theft.

Sounds great. What’s the catch?

For starters, a credit lock is not airtight. It can’t stop credit fraud once an account has already been opened, and it can’t protect against things like lost or stolen credit cards or websites with your card numbers that are hacked. Secondly, when your account is locked, it takes several business days to unlock. If you see a new great deal on a credit card, car, or new home that expires in just a few days, you will not be able to acquire it. While it makes sense to not have your credit frozen when in the market for a new house or car, the latest best credit deal can come at any time.

How to do it

If you know what a credit freeze does, are aware of the risks, and still think the decision would be right for you, call the three major credit bureaus and request a credit lock or credit freeze. You may be charged a fee, but generally they don’t go higher than $10. Contact the bureaus at:

Equifax
1-800-685-1111
Equifax Security Freeze
P.O. Box 105788
Atlanta, GA 30348

Experian
1-888-397-3742
Experian Security Freeze
P. O. Box 9554
Allen, TX 75013

TransUnion
1-888-909-8872
Trans Union Security Freeze
P. O. Box 6790
Fullerton, CA 92834-6790

If you have credit cards and use them wisely and make timely payments even that might not be enough to be a smart consumer. If you are doing your part to keep your credit card balances to a minimum and making all your payments on time you are a smart consumer and credit card holder. However, it is important for you to consider credit card fraud and protecting yourself against it.

If you do not know about credit card fraud it would be wise to learn about it so you can protect yourself from it. There are several ways credit card fraud can occur. The internet is a Mecca for credit card fraud and you should only give out your credit card number on the internet if the site is a secure one and the company is reputable and one you are familiar with.

As of recent the number one place that credit card fraud exists in on the Internet. It is important to be a wise consumer and not post our credit card number online and never do it on an unsecured site or give it to people you do not know.

If your wallet or credit cards are stolen if is imperative that you contact the credit card company immediately. As soon as you discover the cards are missing you must contact them to protect yourself from credit card ftraud. Most of the large credit card companies offer a toll-free number to report stolen cards. This is to protect from credit card fraud and to protect from incurring balances to you or themselves which may not get paid. As well many of the major credit card companies offer credit card fraud protection plans to their cardholders. The reason for this is in the event if someone fraudulently obtains your card or card number and incurs large debts you will not be held responsible.

You may consider yourself a smart consumer, however most of the credit card companies hold you liable for debts charged to your card before it is reported stolen. If it was stolen and not reported it is very difficult for you to prove that the charges on the credit card were not made by you. It would be wise to contact your credit card issuing companies and learn more about the fraud protection programs they offer and their policy on credit card fraud liability.

Another important thing you can do to prevent credit card fraud is to periodically request a copy of your consumer credit report. You can obtain free credit reports online or write to your credit agency to obtain one. The reason you should periodically check your consumer credit report is to monitor it. You might peruse your credit report and find a bad rating or debts incurred that you are not aware of. This is one easy and very important way to protect you from credit card fraud.

If you are unsure what to look for on your consumer credit report that might indicate credit card fraud here are some tips. Any charges you are positive you did not make would indicate credit card fraud. Large money charges on your credit card accounts and balances that are extremely high. The person who obtained your credit card and is using it fraudulently may also be making large cash withdrawals with your credit card.

If you suspect credit card fraud the easiest way to protect yourself is to notify your credit card issuing companies immediately. When it comes to credit card fraud protection time is the most important way to protect yourself. The sooner the companies know you suspect something the sooner the cards can be closed and any charges being made using the credit card will not become your liability.

Credit card fraud is real and it is important you know about it so that you can protect yourself from it. It is wise I you begin to periodically request a copy of your credit report. This is smart for a number of reasons. One reason of course is to monitor for credit card fraud. Another reason is so you are aware of your credit rating and anything that appears on it. If you are unsure of what is listed on your report it is harder to protect yourself in the event of credit card fraud.

Other easy ways to protect yourself from credit card fraud is to not carry all of your credit cards at one time. Only carry one card or a major card, gas card or whatever you anticipate you will need for your venture. If your wallet or purse is stolen with every card you have in your purse or wallet can used fraudulently.

As well as not using your credit card on line carelessly do not email your card number to friends or anyone. Email is an easy way for a credit card thief to obtain your number. One of the easiest way to protect yourself from credit card theft is to be aware that it exists. It is an immense problem and costs businesses as well as consumers billions of dollars per year.

By knowing credit card fraud exists you will be more aware of where you use your credit cards, when you use them and what to do if you suspect credit card fraud. Periodically looking at your credit report and not giving your credit card number out over the Internet are good ways to protect you from credit card fraud as well. Credit card fraud can be annoying, hurt your good credit rating and take months to have removed from your report.

By knowing this information you could have already seriously reduced the threat of credit card fraud. It is as simple as changing a few habits and being aware of a few facts. Given this you are certainly aware you do not want to be responsible for someone else’s liabilities, which is exactly what can happen with credit card fraud.

The only real security measure on your credit report is the gatekeeper. In other words, unless you open the door for this third party to receive your report, they cannot have access. However, giving other people access to your credit report is far simpler than you may imagine – some circumstances begin with a chain of events quickly turning into a snowball of third parties pulling your credit. The credit report alone provides enough information for someone to steal your identity, while monitoring your credit can also help you catch an identity thief before it goes too far. Keep tabs on who has accessed your credit, and keep a close eye on your report. Make sure to shred or lock up any old copies of your credit report in order to make sure your good name stays clear.

Limit Access To Your Credit Report

The only third party which needs your consent in order to get your credit report are current or potential employers, except in Vermont. Vermont requires any third party to obtain your written or oral consent, not just current or potential employers. Whether you grant permission to the current or potential employer could be deadly to your credit. Even though the inquiry itself does not harm your credit score, not every business owner is ethical. If you don’t feel you can trust them, don’t grant access to your credit report. Everywhere else, in almost every other case the third party has implied consent by your actions – such as renting or applying for credit.

Implied Access to Your Credit Report

You can pretty much assume that any company providing credit in any form has access to your credit report. Your permission is not required for companies pulling credit in association with “pre-approved” credit offers, companies considering your credit application, landlords, insurance companies, state or local child support enforcement agencies, and anyone considering your application for a government license or benefit if they have to consider your financial standing. You also provide implied access when you pay for credit monitoring services – the terms of how long and how many times they have access to your credit report should be spelled out in your agreement. Any government agency can also get your credit report, but that is generally limited to your name, address, former addresses, current and former employers – in other words, just enough to hunt you down.

Others With Access to Your Credit Report

There is one other type of company which can get your credit report – debt collection agencies. Debt collection agencies can be somewhat sketchy, however. Unless the original creditor also provided for “their assigns” to have legal power over your account, the collection agency technically should not be able to obtain your report. You should go through the process of validating the debt collection agency before giving them any money or information, because they may not have the legal power to collect the debt, and therefore may have broken the law in pulling your credit report.

Points of Contact:

Debt Free America
888-225-5332

AFS – Non-Profit Credit Counseling
(866) 851-4305

Rapid Services
(516) 216-1421

Reduce or Eliminate Your Credit Card Debt
(866) 764-8079

Coastal Credit Solutions, Inc. – Credit Management
(866) 415-9649

Free Debt Counseling – MMI and CCCS
(866) 264-6103

Mark A. Zirogiannis PC
(516) 333-6200

Lexington Law Firm – Credit Repair
(866) 906-1265

Solve Debts
(866) 905-9656

Credit Care
(866) 462-1636

Bruce C. Bridgman
(888) 890-7379

Genesis Financial Management
(866) 496-2651

DTS Financial Debt Settlement Company
(866) 432-1466

Successful Solutions Financial Services
(866) 404-8464

Express Debt Settlement
(888) 771-3328

Rausa D J Attorney At Law
(800) 422-3328

A Professional Credit Services
(800) 645-2190