FACT grants Fact Free Credit Report once a year

Credit Reports, are the sheets of finance data made by the three nationwide organizations well known as Equifax, Experian and Trans Union. All of these are separate entities and not affiliated with the Government. The information held by all the three about an individual are not consistent and so the scores each provide also vary. Credit reports were earlier used to make vital decisions besides those like obtaining a credit card or loans. They now also influence decisions that involve renting an apartment, employment, and get hold of insurance. So for an individual it is now very important to make sure that their credit reports are accurate. Earlier individual would purchase their reports at various rates from the credit bureaus. For example Equifax reports were purchased at $12.95 each while Trans Union reports were purchased at $9 by consumers. But today, with the passing of FACT Act, consumers can avail a free copy of their credit report from any of the three credit bureaus.

This can be done in a number of ways; one way is that the individual can call the official toll free number and ask for it. The number is (877) 322-8228. The reports can be directly ordered at www.annualcreditreport.com, else the form can be printed and filled and the request can be sent at com where you can order your reports directly. Or you can print out the form and mail your request. https://www.annualcreditreport.com/cra/requestformfinal.pdf
. A study by World Privacy Forum has suggested that is concerned about privacy, would be happier with the services of credit reports on the phone or by mail. There is more information provided on access to free credit reports at Federal Trade Commission's Facts for Consumers at www.ftc.gov/bcp/conline/pubs/credit/freereports.htm. All this is now possible because of the FACT free credit reports.

However there are times when an individual is permitted to have a free copy of the credit reports and more than once a year. The situations when an individual is given access to free reports are listed below-
1. Denied credit, the consumer can request a copy within 60 days.
2. Consumer is unemployed and will apply for a job in the next 60 days.
3. The individual is on public welfare assistance
4. The individual is a victim of identity theft.
5. Decision made with relation to the individual’s employment and has an affect on the credit report.
6. Investigation on the credit report as per the individual’s request.
So in all, the FACT act enable residents in the states of Colorado, Maine, Maryland, Massachusetts, New Jersey, Vermont of which Georgia is some what more privileged and the individuals can receive 2 free credit reports annually.

Sources:
1. http://www.privacyrights.org/fs/fs6-crdt.htm#FreeCR