As of July 2005, you can now receive a free annual credit report from each of the three credit reporting agencies. Due to increased threats of identity theft, the new law was passed to help consumers protect themselves by allowing them to view their credit report once a year. In the past, consumers had to pay a small fee to receive copies of their credit report, and many people felt it was too much of a hassle.

It is a good idea to view your free annual credit report to check for things such as credit cards being reported that you may not of received or changes in your address that may show someone is impersonating you and having things sent to a different address. Your free annual credit report will show you revolving accounts, loan accounts, defaults on accounts and judgments that may have been taken out against you. It will also show you who has done a credit check on you recently and your employment and address history.

The new legislation allows you to receive a free annual credit report from all three major credit reporting agencies. These agencies are Equifax, Experian and TransUnion. To receive your free annual credit report, mail them a written request to supply you with this report. You can find the addresses for these credit reporting agencies by going online and using a search engine such google.

Another way to receive your free annual credit report is by logging onto www.annualcreditreport.com. This site allows you to receive your free annual credit report from all three credit reporting agencies. Supply the personal information they ask for and check all three reporting agencies. In a matter of minutes, you will have your credit report right there in front of you.

If you are viewing your free annual credit report online, make sure to print one out from each agency. If you find any discrepancies make note of them and of which agency it is with and then contact them immediately.

By taking advantage of this legislation that allows you to receive a free annual credit report, you are given assurance that, even if someone does try to steal your identity, you will be able to catch it quickly and put a stop to it before it costs you thousands of dollars to restore your good name.

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