It's A Fact: An Utterly Free Credit Report Is Your Right By Law
Yes, you have a right to receive a totally free credit history from every one of the three credit history reporting organizations in the United States. Your right to receive an absolutely free credit history is a federal public law, precisely, public law 108-159. When trying to figure out how to get rid of credit card debt, this can be an invaluable tool. The law which made an absolutely no cost credit history for consumers a right was passed by The 108th Congress on December 5, 2005. It was specifically aimed at people trying to maintain good credit or going down the road of how to get rid of credit card debt. It's called the Fair and Accurate Credit Transaction Act (FACT) of 2005, and it is a Godsend for people for whom how to get rid of credit card debt is an awfully real concern.
The Act amended an earlier credit history law entitled the Fair Credit Reporting Act. FACT amended the Fair Credit Reporting Act to include a provision for the totally gratis credit history. In Title II of FACT, under section 211, which is called "No cost consumer Reports", all credit reporting agencies are required to give consumers their credit records once during a one year period "upon the demand of the buyer without fee to the consumer". This law reversed the practice of credit reporting agencies to charge consumers for their own credit history.
FACT continues in Title II to say that the buyer may obtain the totally no cost credit report only if the buyer makes that request from a centralized source that a government committee would supervise in its growth. At minimum, credit history reporting agencies are required to provide a toll no cost number consumers may call to make their appeal. It also states that credit history reporting organizations have 15 days in which to offer the absolutely free credit history to the consumer after the buyer has made the request.
FACT also states that consumers may also apply for a reinvestigation of the specifics of their credit history after they get it and that credit reporting agencies must complete that investigation within 45 days after a request for reinvestigation. This assures that consumers may use the totally gratis credit history after they get the results of the reinvestigation.
The three credit history reporting agencies in the U.S., Equifax, Experian, and Transunion, together formed a centralized source that consumers can use to ask for their credit report as required by FACT.
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