Free credit reports available in Midwest

Since March 1, federal law entitles consumers living in the Midwest to receive copies of their credit reports free of charge due to a new federal law.
The Fair and Accurate Credit Transactions Act, adopted by Congress in 2003, is being rolled out gradually to consumers across the United States and will be available throughout the country by Sept. 1, according to Consumers Union, the nonprofit publisher of Consumer Reports magazine. It became effective in Springfield and other Midwest cities March 1.
Missouri Attorney General Jay Nixon encourages Missourians to take advantage of the new law.
“Reviewing your credit reports on a regular basis can help you spot not only inaccuracies that could hurt your credit rating but also fraudulent attempts by identity thieves to steal your credit,” Nixon said in a news release.
The credit report availability comes on the heels of a major identity theft scandal. In mid-February, ChoicePoint Inc. announced that a fraud ring had gained access to personal information of approximately 145,000 consumers from company records.
“The ChoicePoint identity theft scandal is another reminder of the importance
of checking your credit report regularly
to make sure it’s accurate and to
protect yourself from fraud,” said Norma Garcia, senior attorney for Consumer Union’s West Coast office, in a news release.
“Now that credit reports are free, consumers have easy access to this important document and can take steps to make sure it offers a fair picture of their credit history.”
In addition to one free credit report every 12 months, federal law gives identity theft victims and those with a good-faith belief that they are about to become
victims of such fraud the right to place a 90-day initial fraud alert on their credit files.
All consumers who do so are entitled to a free credit report, according to the release. Initial fraud alerts instruct creditors to exercise more care to verify the identity of the credit applicant.
Consumers can request their free credit reports through a central Web site, www.annualcreditreport.com, by calling (877) 322-8228 or by mailing a completed request form – available from the Federal Trade Commission’s Web site, www.ftc.gov/credit – to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281.
The three major credit bureaus – Equifax, Experian and Trans Union – are required to comply.

Phishing
And Nixon cautions that these credit bureaus and the law’s central Web site will not solicit consumers’ personal information via e-mail – a practice called phishing. Any e-mails or pop-up ads claiming to be from www.annualcreditreport.com are most likely scam attempts, Nixon said.
Missouri is one of 12 states affected
by the law March 1. Consumers in
southern states can order free credit reports starting June 1, while consumers in eastern states become eligible Sept. 1. Consumers in western states began phasing in the new law in December.
For additional information, Consumers Union has published “Your Credit Matters,” an online guide with detailed advice on how to order a credit report, review it for accuracy and correct mistakes.
The guide is available at www.consumers
union.org/issues/creditmatters.html. A Spanish edition also is available.
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