credit report options?

iVillage Member
Registered: 03-26-2003
credit report options?
11
Thu, 05-01-2003 - 4:34pm
I want to order a credit report, I have looked into the free ones from worthknowing and stuff, but I really want to order one from equifax, since DH and I really have no idea. We have NEVER seen a credit report on ourselves.

So my questions are

1. do we need to order one for him and one for me? we are newlyweds so I imagine yes.

2. should I spend the $40 to get all three reports and the fico score, or should I just spend the $9 to get the single equifax report to see what we have open etc. I want to know my score but I don't really NEED to know my score right now.

Meg

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Avatar for zaboz
iVillage Member
Registered: 03-26-2003
Thu, 05-01-2003 - 4:48pm
If you've never seen it, I would get all three for both of you.

There could be things on one report that are not on the others so it's worth

looking at all of them. Good luck! Don't panic. Sometimes

your credit report shows accounts that you forgot all about!

Sometimes you'll discover that your old roommate never actually

paid the phone bill and things like that. Yikes. It's not fun

but it's interesting.
Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Thu, 05-01-2003 - 5:15pm
Meg,

I would order each of your reports. I personally don't order the report w/fico score. I just want to know what's on my report. Make sure everything is accurate.

MYM

Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Thu, 05-01-2003 - 5:51pm
Meg,

1. I would definately order a report for each of you. Also, you need to make sure you list all names that you have previously held credit under (ie maiden name and married name) otherwise, your credit report may be inaccurate.

2. I would suggest 3 reports in one. FICo score is up to you. I personally like to know what my score is from time to time. It can be helpful if you are thinking about buying a house, car or any other types of credit. Your score can range from 350-900. A "good" score is 700 or better; average is about 620-700 and below 620, you will pay a higher interest rate.

Hope that helps!

Susan

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iVillage Member
Registered: 03-27-2003
Thu, 05-01-2003 - 6:53pm
Funny that this was brought up because Monday I pulled my husband's and there was a $431 collection account from his old roommate that never paid the electric bill! That roomie happens to be his brother. I was livid! However he called the elec co and they said to send a copy of the lease when he was taken off of it. DH never got that copy but I am sure he can contact his old landlady and she will probably have it. Then the collection people will be after my not so dear (at the moment) brother-in-law! Otherwise I am going to be after him! I am so glad I pulled this, we never received any collection notices from the company!! These boys, yikes!

R

iVillage Member
Registered: 08-14-2002
Fri, 05-02-2003 - 1:02am
Yes, definitely order all reports for EACH of you. Your credit reports are not joint. They will have completely different information.

Also, I've noticed most people mention three credit reporting agencies - but there are at least FOUR: Equifax, TransUnion, Experian, and CSC Credit Services. They will not have the same information!

One way to get all your credit reports for free: apply for credit somewhere that you know you will be turned down - that rejection letter is a free ticket to your credit reports anytime within 60 days after the date on the letter. Also, some states allow you a free credit report once or twice a year. Check it out.

I found an entry on one of my reports for a $4800 bill, unpaid, in collection - to a doctor I saw many years ago. WRONG! That was a bill for $48.00, which did go into collection but was paid within a few months. I challenged the entry, and of course it was promptly removed. But this was years later - no wonder my I kept getting turned down for credit all those years!

Did you also know that if you challenge an entry that you believe to be incorrect, and the credit reporting agency can't verify the information within 30 days, that they have to remove it from your report?

Also, the agency will send you a form to fill out, along with your credit report, if you want to challenge anything on the report. My advice: don't bother with the form. Call them on the phone instead! Works just as well, results are much faster, and you don't have to fill out the blasted form.

Just my 2 cents (more like 7, but who's counting?).

Msfit




Edited 5/2/2003 2:41:40 PM ET by msfit777

                  &nbs

Avatar for zaboz
iVillage Member
Registered: 03-26-2003
Fri, 05-02-2003 - 8:36am
Your comment got me curious so I checked out CSC's website. They say they are affiliated with Equifax. I've always thought there were only three. I think CSC and Equifax

are one and the same. But I'd be interested if you know differently.
iVillage Member
Registered: 02-14-2003
Fri, 05-02-2003 - 11:56am
Hi MsFit. I'm glad you're here. Please do not advise anyone to dispute correct credit report information or lie to get credit reports for free. (Want a sure way for the cost of the reports to go up in the states where they're not free? Lie about your status to get it free.) When you are denied credit or a job, you are allowed a free copy of the report from the credit bureau the infomation was acquired from and not all three. The problem with disputing correct information is that it may be removed within that 30 days, but it's going to be re-reported because it's accurate. Negative information will stay on your reports for 7 years (10 years for BK) while good information will show for 10. There are some circumstances where information can be reported much longer.

CM Ms Joe Cool

Senior Community Moderator

moneylifecm@mail.ivillage.com

Ms Joe
CM Ms Joe Cool
Senior Community Moderator
moneylifecm@mail

iVillage Member
Registered: 08-14-2002
Fri, 05-02-2003 - 2:38pm
Uh oh, now I done it - got scolded for not playing fair. I apologize for suggesting that a person could lie and get their credit report for free - this is dishonest, devalues your character and drives up the cost of credit reports. I have edited the post and removed this paragraph.

As for disputing correct information, I should clarify: Of course it IS senseless to challenge valid, up-to-date information on your report. I have only done this in cases where a debt has shown up for collection and the collection bureau has either closed the books on that account, or gone out of business or whatever - these are cases where I attempted to confirm the debt myself but was unable to do so. I believed the debt to be correct, but the people to whom I owed the debt didn't know me from Adam - no records. I've had agencies tell me they'd rather I did NOT pay a very old debt (written off, records packed away in the warehouse somewhere, etc. - we're talking about small amounts here, less than $50.00), because it would create havoc for their accounting system and they'd have to dig through countless dusty boxes in the warehouse to find it, if it even still exists. But at least I make the attempt to pay it if I can.

I do NOT use this tactic to get out of paying debts for which I am truly responsible - that would also be dishonest and frankly, it is stealing. As I said, I attempt to confirm the debt first. If it is a valid debt on their records, then I pay it if possible, or make new arrangements to do so.

And yes, some information can stay on your credit record indefinitely. One example in my case was a tax lien which had been levied against me. I learned this information remains ON your report for as long as the debt is unpaid, and is only removed 7 years after the judgement is satisfied. I have two years to go on this one.

And lastly, it's news to me that you can only get a free credit report from the agency where the information was acquired. That has not been a problem for me - I have sent copies of the same rejection letter to all four credit bureaus, when only one was listed on the letter, and recieved free credit reports from all four. In the future, I will pay closer attention to this and only request a report from the agency listed on the letter.

I'm sorry if I misled anyone, or encouraged any dishonest behavior.

Am I still in trouble? Can I go outside and play now?

Msfit




Edited 5/2/2003 2:48:20 PM ET by msfit777

                  &nbs

iVillage Member
Registered: 02-14-2003
Fri, 05-02-2003 - 3:02pm
Silly. You were never in trouble. I just have to be careful with some of the advice that's handed out in the debt boards. I am grateful for the additional information from you. We're all here to help each other. We interact and learn from each other too.

Like zaboz, I'm curious about this fourth agency. The major players are Equifax, TransUnion, and Experian.

You are still absolutely cool in my book. :o)

Ms Joe

Ms Joe
CM Ms Joe Cool
Senior Community Moderator
moneylifecm@mail

iVillage Member
Registered: 08-14-2002
Fri, 05-02-2003 - 8:24pm
I see what you mean - I checked also and their website does say that CSC is an affiliate of Equifax - but I'm really confused now. Maybe they merged or something recently??? I keep a file folder with past and current credit reports - and I have reports from all FOUR companies. I will research this question more over the weekend and attempt to find an answer.....

Msfit

                  &nbs

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