Man wanted for identity theft by Honolulu Police

Honolulu Police is looking for a man involved in identity theft and asking people to identity this man. According to Honolulu police, this person makes 27 transactions in only 20 days time from October 8 to October 29, 2007 using different ATM cards located at 651 South King Street.

Further investigation with Washington Mutual Bank in NY, it was discovered that someone used all of the victims personal information and changed their PIN via phone. Most of the victims claiming that they have their cards in possession and the suspect was using the ATM cards in NY, Las Vegas and Hawaii.

Police have asked people to call on the CrimeStoppers at 955-8300 if they get any information about this incident.

Link – Via - khnl.com

Arkansas customers will have access to “Security freeze” in the New Year

Arkansas consumers will have a new tool in the form of ability to freeze their credit report which will take effect from Jan 1st 2008 against identity thieves.

Security freeze that allows customers to put a freeze on their credit report is on the top of many laws that are going to take place from the 1st of 2008 in the State.

Under security freeze, the customers who have been the victim of identity theft can ask the credit reporting agencies to place a freeze on their credit report. This security freeze will stop credit agencies from releasing the customer’s credit report and credit score information in response to a request for opening a new account or to get credit.

Link - Via - pbcommercial.com

Credit report and credit score myths explained

Have you heard too much about credit reports, credit history and credit scores? It seems as if everyone has surly some advice for you. Some of the advices are right but some of them may be wrong as well. If you have some confusion about your credit report and looking for the answers of some of your credit report questions then you are on the right place where you are going to clear some of your credit reports and credit score myths:

1. Closing or canceling of existing credit accounts
   

   Some people have the misconception that closing down of some of existing credit accounts will help them to increase their credit score. But the fact is that closing some of your credit accounts will not help you but instead damage your credit score further because you will have shorter credit history then. So open few accounts that you can manage easily and in case you have opened too many accounts, you are just damaging your credit score as handing higher number of credit accounts is not going to be easy.

   
   


2. Checking my credit is going to harm my score
   

   Some people misconception that regular checking of your credit score is going to harm it is not true. But the fact is that you are going to harm your credit score in case you don’t check it regularly. By checking your credit score, you have better idea about the things that are going on with your credit accounts.

   
   


3. All of the credit reporting agencies gives the same credit score
   

   It is not true that all of three credit-reporting agencies Equifax, Trans Union and Experian give you the same credit score. All of bureaus offer you credit score on the basis of information reported to them. And since the credit reporting agencies are being help by different companies. So it’s not necessary that they all have the same information reported about you.

   
   


4. Marrying to someone with bad credit will lower my credit score
   

   Marrying to someone with a bad credit will have no effect on your credit score by the time you do not have a joint account. Both of you have different credit report and different credit scores. So your spouse credit history can never have an impact on your credit report by the time you have separate credit files.

   
   


5. My credit score will improve with my debt payments
   

   In case you haven’t paid your debt or made the late payments, that information is going to stay on your credit report for at least seven years. So paying your debt later will not help you in removing ‘unpaid debt’ from your report for seven years.

   
   


6. Too many credit card offers are hurting my credit score
   

   It’s not true that any credit card offer can have bad impact on your credit score by the time you don’t respond to them. Your response to every promotional credit card offer will generate several inquiries into your credit report and that will bring your credit score down.

   
   


7. I don’t need to check my credit report because I pay my bills on time
   

   This is not true that you don’t need to check your credit history in case you pay your bills on time. But the fact is that 80 percent of credit reports contain errors and 25 percent have errors serious enough to deny you any kind of credit. So check your credit report regularly.

   
   


8. Bankruptcy and foreclosures can’t be deleted
   

   It’s not true that bankruptcy and foreclosures can’t be deleted from your credit history. There are companies who specialize in deleting negative listing including bankruptcy and foreclosures.

   
   


9. I must have big income to make a big credit score
   

   Credit score has nothing much to do with your earnings. Credit score has much to do with your paying capacities. No credit score or credit report has your income mentioned. The issue with credit isn’t how much you are earning but has much to do with your repayment obligations. A person who earns $50,000 per year can have better credit score compared to a person who earns $300,000 per year.

   
   


10. What is a really good credit score?
    

    There are some misconceptions about a good credit score. Credit score of around 700 is really a good credit score. One should always aim at that score. With good credit score, you’ll have credit available easily and on lower interest rates.

    
    

How to change An adverse credit history?

There are so many ways which can reduce your credit history “Adverse” to “Normal”. It may take many months or years to do this, but it is more financially viable in the long run. It may be possible that you have paid off your all debts and still the credit agency showing you in adverse credit history. You should have one set of document with you to verify standing. Many people found that credit agencies having incorrect report that may be effect on financial worthiness of applicants. There are debts that adverse credit ratings are not removed from the report many months and years after they have been paid off. These will still give you an adverse credit history rating, and it is in your best interest to have them removed. Following ways that can be used are:

1. Debt Counseling


2. Debt Consolidation

Debt Counseling: Many people having worst credit history and their debts are unmanageable and day-to-day they are going to be increase in humongous way. The effect could be their rate of interest may be increased what initially they have got. A debt counseling service is a company that may be work for an individual or a family. Debt counseling company may be work for profit or non-profit. The main aims of the debt counseling service are to control the debt so that repayments are manageable and, if necessary, to repair the client's credit score. Debt counseling services can offer advice on how to reduce monthly debts bill. One way can be convert High interest credit cards in to low Interest. These cards may be offered sometimes low interest rate. Transferring bills this way can save a great deal of money.

If you own your own home, then a debt counseling service may advise obtaining a home equity loan. By doing this, you will be able to secure a low interest loan. This is a good option when trying to reduce your monthly debt bills and lower your overall debt. Personal loans that are not secured usually have a higher interest rate and are usually last resort options when borrowing.

The debt counseling service may be helpful in reducing long-term debt plan. This plan helps you to maintain and use the debt now and in the future. Of course the debt counseling agencies help you about the proper use of the debt and stop misuse/Clear of debt.

Debt Consolidation: That is like it name appears consolidate the debt and than disperse. It helps to reduce the interest rate that applicant pays for various payment. It allow consumer to assorted or combine their unsecured bill and change in to one payment. Instead of making payment into various banks, shops etc. give it to debt consolidation agency then they will disperse funds for you.
Debt consolidation also helps in time saving that may be help you in other valuable activities. These types of debt consolidation agency work in every city or society.

Lets talk more in Detail about Adverse Credit History

An adverse credit history is being is tracked by Credit Agencies. When someone takes credit from financial organization, this credit history effects his lending option. For adduce the Credit Agencies find out the financial worthiness for borrower. This information can be quite detailed and arduous to navigate by a potential lender dealing with a new applicant. Credit Agencies investigate the applicant credit worthiness based on Credit Scoring. In western country (like America) a good credit scoring lies “Between” (350-800), that credit scoring offers a standardized way for lenders to assess that risk rapidly and "without prejudice.

Applicant having adverse credit history may get reduction in lending money or home loan or investment in other sources. In the United States, in certain cases, insurance, housing, and employment can also be denied based on a negative credit rating. Important thing is, this task is related to Credit Agencies to find out whether an individual Credit History is “Adverse” or not. That is totally depend on the lender or Financial Institution. In the United States, a creditor is required to give a reason for denying credit to an applicant immediately and must also provide the name and address to the credit reporting agency who provided data that was used to make the decision.

Due to your adverse credit history a lender or Institution may refuse to give you the credit or can increase Interest rate on the credit that they have offered to applicant. Credit agencies track your repayments on loans and other forms of credit. They keep this information on record and assign each person a credit score. If your credit score is below a certain amount, then you will be marked down as having an adverse credit history. This may mean that you are unlikely to repay your credit transaction on time or that you may miss payments.

Top reasons why you have lower credit score

In case there are some serious errors in your credit report, they will lower your credit score and as a result lenders may think twice before giving you credit or will offer you credit on big interest rates. And if you can give some time to improve your credit rating, you will have better situation when you apply for a credit card, loan or mortgage next time.

Make sure that everything is fine with your credit report. And if you have some doubts about your credit report, take help and try to improve your credit status. Keep on checking your credit report and maintain a good credit history. Sun money has given some tips about how to avoid and how fix the mess:

• In case you have missed payments in the past : all of those evidences stays in your credit report for the next 36 months and all of these records will leave negative impact on the lenders. If there is any particular reason like illness or accident due to which you missed the payments, you can add a note in your credit report, which will make a big difference in your standings before the lenders.


• Lenders will not notice you much in case you have lots of credit already. In case you already have many credit card, loans and have debts to pay for, you will have problems in getting more credit. If you have cards you don’t use or loans with a very small amount to be repaid, cancer and clear them before asking for more.


• If you have made several applications for credit recently, they all will be available in your credit report to the lenders. And when they see too much of credit applications, they will believe that you're in dire need of money or planning a credit fraud. If the lenders are planning to run credit search on you, make them understood that you are just looking for the information and ask them to set the records straight.


• You are not registered to vote at existing address. Lenders use Electoral poll as a precaution against fraud to determine you are who you pretend to be and you are staying at the address where you are saying. If you don’t have one, contact your local council.


• You have been bankrupt – most of the bankruptcies are discharged in a year these days but the records of bankruptcy stays in your credit report for the next six years at least. During this interval, you will be really hard for you to get any credit.

Hard Pull VS Soft Pull

Credit Inquiries:-

When the terms comes Credit Inquiry that can be divided in to two parts e.g. "Soft Pull" & "Hard Pull". Both having large implication in credit inquiry. So what’s they are exactly and how they effect on Credit Inquiries. Both are having well defined terminology as their name appears.

How they Works:-

When we are talking about “Hard Pull” so it can be described as an initiative that could be taken by applicant and inquiry made by company. For example if you are applying for a loan or post paid connection , so lender will run a credit check or voluntarily check out your financial back ground. In another way this can be called as voluntary inquiry.

But it does not mean that every voluntary inquiry will be called as “Hard Pull”. For example if you apply for account opening in any financial institution they will not run any Hard Pull inquiry. They will conduct only “Soft Pull” inquiry that means creditors only check the pre-approved document. In case you only need to send the accurate document for verification. If you check your credit history that is also called “Soft Pull” Inquiry.

But with definition of credit bureaus they have slightly different terminology.

TransUnion lists credit inquiries in two categories:

• Regularly inquiries: These are equivalent to “hard pulls” and will remain on the credit report for two years;


• Account review inquiries: These are “soft pulls” and according to TransUnion, companies use “soft pulls”

For the purpose of an account review or other business transaction with you. These inquiries are not displayed to anyone but you and will not affect any creditor’s decision or any score.

Experian shows credit checks as:

• Requests viewed by others: These requests are usually “hard pulls” as they are Results of actions involving you, such as the completion of a credit application or the transfer of an account to a collection agency, application for insurance, mortgage or loan application, etc. Creditors may view these requests when evaluating your creditworthiness.


• Requests viewed only by you: These are “soft pulls” that are not available to creditors when they evaluate your credit.

Soft Pull Inquiry:-

A Soft Pull inquiry that does not have any effect on your credit score. Soft Pull inquiry eventually fast happened and you may not be aware of happening it. Each of the soft credit check does not show in your credit report. They are available only for your reference and not available in lender record. There are many examples which show the case of Soft Pull:-

1. Credit score and report check by you.


2. Credit background checked by curious employer.


3. Initial credit check by credit card Company that wants to solicit you pre-approved credit check.

How Do Soft and Hard Pulls Show Up On Your Credit Report

The three credit bureaus, TransUnion, Experian, and Equifax have different names for soft and hard credit pulls, but they operate in the same way. Soft credit pulls are recorded on your credit history file but have no effect on your credit score and are only available for you to see. Hard credit pulls on the other hand will negatively hurt your score and each hard inquiry can be viewed by lenders looking to extend you credit.

Rule Of Thumb:

At the last but not least there should be a “Rule of Thumb” that is if possible avoid the “Hard Pull” Inquiry that will effect your credit score and infect that drop 5-10 points in your credit score per year. Soft pull inquiry shows your rich attitude and financial strength. When lender run a credit check or inquiry, he goes to your credit score or report and people who is having more hard pull inquiry in his credit reports treated as poor debtor. In case lender will not give any preference such type of applicant. So if you are not sure which type of inquiry a bank or lender going to be run ask and then go for it. Eventually you must go for a “Soft Pull”. Because each hard pull hurts your credit history temporarily a bit (with some exceptions), people always very protective of their credit checks. I personally try to keep them down to about 4-5 within the last rolling six months. Because present scenario everybody is trying to reach out the mount and getting more and more credit. So lender is also interested to giving it at more interest rate that can be because your credit report shows that you have gone through more “Hard Pull.”

Considering Points while apply for Credit

As economy is growing so every one is in queue for getting credit. Most important part is, when some is going to take the credit how much interest rate he got. Now considering this point we will have to look the aspect which needs to improve for a debtor. There are following points which may be improve a debtor financial worthiness. There are lots of agencies who work for borrower and help to improve their credit score.

An applicant who is facing the same problem and lender is denying to give the credit, so he may be take help to this agency. There is one of the renowned credit agency called Equifax which collect the information about applicant. Information can be divided in to five phases ; Your personal Information, Inquires, Credit History, Public Record and Your over all Credit Score.

Personal Information:

Personal Information can be your details e.g. you’re Name, Your spouse name; Job Status; Security Status, Current & Formal Address, Job History & Financial background. This information should be appropriate and correct. If necessary you can take out help of Equifax Credit Agency to collect all information. This should be authenticated or updated as per your current status.

Inquiries:

Next is your Inquiry section that is most important part for an applicant. In case of Equifax report there are two types of Inquiries; one is Hard and second is Soft Inquiries. Hard Inquiry is like which is initiated by you and made by company, e.g. an applicant who applies for Mortgage loan or Credit Card. But in case of Soft Inquiry that does not show the creditor unless until you request for it. So it’s totally depends on the initiative taken by applicant.

Credit History or Public Relation:

Third is Credit History & Your Public Relation that all shows your financial status and worthiness. It include how you done your debts and payment. Credit history lies between the credits score & would be a major factor for considering applicant financial strength. Long pending debts or overdue can be reduce your credit score. Even if your public relation is not strong that can also effect on your credit score. They usually will stay on your Equifax credit report for six to ten years.

Credit Score:

Last is your credit score. That credit score shows how credit risk taker you are. More creditors are interest in applicant credit score. In UK and America credit score lies “Between” 350 to 850 considered as best credit score. Creditors consider that more credit score means you are less risk taker and eventually that decided your credit amount. If the score is lower, you will be seen as a higher risk and while you still may get loans, you will likely be headed toward higher rates of interest.

Your Equifax credit report has a big influence on your ability to make purchases on credit. Many state and federal laws allow you to receive a copy of your Equifax credit report either for free or at a low cost. Take the time to get a copy of your Equifax credit report, as well as ones from the other companies. That way you can be sure that all information are correct and decided how risky you are while taking loan.

Equifax improved and enhanced its customers online credit report

Equifax credit reporting agency has made some improvements to its existing credit reports for its customers. New version of credit reports will have debt to credit ratio, account summaries with no additional cost.

Under the new version, front page of your credit report will have more detailed summary of your credit history. A customer credit report front page will include credit history, including accounts, debt- to-credit ratios, account age, and potential negative credit histories -- all on one page. Each section will have brief explanation to help customers to understand their credit report in a better way. Click on the following link for a Sample Equifax Credit Report

Equifax Personal Solutions was the first company in the industry who started offering online reports to its customer’s way back in 2001. Since than millions of Americans have used this service to access their credit reports, to identify signs of identity theft and disputed errors in their account and as a way to understand their credit health in a better way.

"We learned that most consumers pulled their credit report to evaluate their own credit standing," said Steve Ely, President of Equifax Personal Solutions. "To help them achieve that goal, the new format lets them understand what they need to know about their credit at a glance."

"In these rapidly changing economic times, understanding your credit health is critical to achieving your financial goals. By presenting your credit information in a clear and concise manner, Equifax is helping consumers meet those goals," Ely said.

To know more about Equifax and its products visit www.equifax.com

Credit crunch expected to ease

Australian interest rate is likely to be peak at 7 % early next year with central bank involvement expected to ease global credit crunch.

Global credit market was almost frozen in the last few weeks with banks refusing to lend money to each other because of the worries where the credit crunch is going to hit after US.

Via NEWS.com.au

People who can Apply Credit Card with bad credit history

Credit cards for people with bad credit: aims at strengthening and rebuilding the credit history that is currently poor. Do you feel that all is lost, when one particular lender refuses to issue you a credit card that doesn’t sound sense? It was all once upon a time when there were only very limited lenders and hence there was a demand for them. Today, there are numerous in the field coming every day who cannot really avoid people like you; if they want to be in the field. Credit card providers offer credit cards for a person with poor credit history, bad credit record holder or even people with no previous credit history.

There are big list of companies providing credit cards to people having bad credit history. In UK one in four having bad credit history, so it means that no body can escape with debts. Do you feel distressed because of bad credit history? No nee to worry you can search a lot of companies through browsing the net and choose the best lender for credit option.

How to repair your bad credit history?

There is no quick or fast way to repair bad credit history. Your credit history is maintained by credit reporting agencies that they collect from various loan lenders, banks and other creditors. If you have a bad credit history due to illness or unemployment, they can be repaired with time.

Your bad credit history can have big negative impact in case you are in dire need of credit in the near future. You have to take positive actions and change your attitude towards money as a way to improve your credit history. There are some actions you can take to repair your bad credit history:

1. Get a copy of your credit report from credit reporting bureaus and check it for errors. If there are errors in your credit report, contact credit bureaus to fix them. Sometime contacting the creditors who reported the errors can help you.


2. In case there are outstanding debts in your account, repay them quickly with the highest interest rates first.


3. Always pay your bills on time to create better credit rating.


4. And in case your debts are overwhelming, make a debt consolidation plan by contacting a nonprofit credit counseling organization.


5. Be aware of companies that tend to offer you credit repair or debt consolidation loans.


6. Request for a credit limit reduction from your account in order to lower your borrowing and available credit.


7. Sell your valuable assets to pay off your debt. Purchase just daily routine things and use rest of the money for paying your consolidated debts.


8. Plan with your credit counselor how to repay your debts and try to establish a good credit history by keeping the same job and house and maintain your savings.


9. Once you have repaid your debts, try to build a good credit history. Pay off your credit cards monthly balance on time to build good credit and learn to use credit cards in a responsible way.


10. Chose credit card carefully that can help you build a good credit history.

You have an adverse credit history or poor credit history?

Adverse credit history is a negative credit rating. Adverse credit rating is also called sub-prime credit history, non-status credit history, bad credit history, impaired credit history or poor credit history. The credit provider companies when judging credit history are using all of these temps. No one loves to have an adverse credit history.

When you apply for a loan, lenders will check your credit worthiness by looking at your credit history. They get this information from the credit reporting agencies. Credit reporting agencies keep track of your financial transactions while repaying loan or credit. They use this information to decide whether you have a poor credit history or not.

On the basis of your financial transactions, credit agencies assign you a credit score. And in case your credit score is below a certain amount, you will have bad credit history. It means that you are not likely to pay your credits on time or you may fail to make the payments altogether.

Banks and credit card providing companies pay to credit agencies to get this information. If you have an adverse credit history, lenders may simply refuse your credit request. And in case they agree to offer you credit, they may be offering you the lower amount than you have requested or may offer you credit on higher interest rates than you would have been offered if you do not have a bad credit history.

Credit scores are free or not?

Our credit report shows how much strong we are financially. Credit reporting bureaus provide credit score with your credit reports. These reports are being used by loan lenders to check your credit worthiness. According to the Federal law, consumers can get a free copy of their credit report once in a year from all of three credit reporting bureaus Equifax, Experian and TransUnion.

But getting your credit score is not free. You have to pay some dollars to the credit reporting bureaus in case you want to know your credit score:

Equifax (1-800-685-1111) charges $7.95
Experian (1-888-322-5583) charges $5.95
TransUnion (1-800-916-8800) charges $7.95

Getting your credit report will allow to identify errors that may be lowering your credit score and also whether you are a victim of identity theft. According to a report released by Federal Trade Commission, 8.3 million American adult became victim of identity theft in 2005, 3.2 million of them experience the misuse of their existing credit card accounts and another 1.8 million of adults found new accounts been opened or their personal information being used for other fraud activities.

Season of credit card scams

The New South Wales police have asked Christmas shoppers to be extra careful when using their credit cards during this time of year.

It is the season of festivals, celebrations lot of shopping and is also the big season of credit card scams.

Employer card being used to buy Gas – According to criminal complaint filed on Friday, 44 year old Brian B. Long; Sheboygan man used his employer credit card to buy $1200 gas in the last four days. Long has been terminated from his job, send to jail and a $10,000 fine if convicted on the wrong charge of fraudulent use of a credit card via Sheboygan Press

Entire village being hit by credit card scam – Police believe that hundreds of people living in Houghton on the Hill, Leicestershire may have fallen victim of international credit card scam. The money has been withdrawn from counties including Australia, India and Philippines via BBC NEWS

Woman being arrested for credit card fraud – Kelly Marie Mancuso is facing the charges that she used her job to get consumers credit card numbers. Kelly is free on $500 bond pending a hearing in Bradley County General Sessions Court via NewsChannel 9

A credit card fraud king from Pakistan – A Pakistan-American Afzal Sodagar, finds himself in big trouble after his son Saarum Sodagar informed the police that his father carried credit cards that did not have his name via Daily Times

How to freeze your credit report?

You have to pay $10 to any of the three credit reporting agencies and also have to send them a copy of your ID to freeze your credit report. Credit bureaus take five business days to freeze your credit report and another 10 business days to send you a confirmation letter with a PIN and toll free number to call in case you need to lift the freeze.

And if you are a victim of identity theft, then you do not have to pay to freeze your credit report but you have to provide the police report or complaint to the credit reporting agencies. After the freeze, no one will have the access to your credit report or credit score.

You can temporarily lift the security freeze by paying $10 if you required or pay $12 so that selected creditors have the access to your report. Here are credit reporting agencies contact info you can use to receive a copy of your credit report, to dispute information on your credit report or to place a fraud alert

Equifax: 1-800-525-6285, www.equifax.com, P.O Box 740241, Atlanta, GA 30374-0241

Experian: 1-888-EXPERIAN (397-3742), www.experian.com, P.O Box 9532, Allen, TX 75013

TransUnion: 1-800-680-7289, www.transunion.com, Fraud Victim Assistance Division, P.O Box 6790, Fullerton, CA 92834-6790

Credit score improvement tips

Improving credit score can save a lot of money for you. Your credit score indicates your credit worthiness, how well you pay back your credits sometimes called as Fico score. The higher the credit score you have the healthier situation will be for you about getting loans or credit cards. Try to bring your credit score above 620. And if your credit score is below 600, you will have problems in getting loan. And in case you are able to get loan with a low credit score, the interest rate being charged will be quite high.

And if you have credit score above 760, you will have to pay the lowest rate of interest. 850 is a perfect score a consumer can get and 723 is an average credit score. Under the Fair and Accurate Credit Transactions Act, you can get a free copy of your credit report from the Credit Reporting Bureaus annually. The Fair Credit Reporting Act also gives us the right to get our credit score from these credit reporting companies. For this they are allowed to charge a reasonable fee which is approx $15 for your scores.

There are some steps you can follow to improve your current credit score:

• Try to maintain a long and healthy credit history. Keep your old credit card accounts alive and pay your bills on time. And in case there is some credit crisis, at least pay the minimum changes.


• Managing too many credit cards can be a tedious task. So keep fewer credit cards and make a habit of saying No to the new credit card offers. Maintain a good credit limit.


• Check your credit report and make sure that it does not have errors and if there are some errors report them to the credit reporting agencies.


• Never try to suddenly open or close your accounts, as that will create a suspicion that you are trying to manipulate your credit report.


• Do not use credit cards where you have the cash to pay


• Try to keep your credit card balance low and in case you keep that max that will lower your credit score


• Do not open a credit card you do not need. Opening a new account lower your credit score by an average of 10 points


• Do not close your unused accounts as closing them will delete the established credit history. If you have a card with a five-year of established history, hang on to it.

Annualcreditreport.com with various ways to get credit report

Annualcreditreport.com is a website jointly operated by three US credit reporting agencies Equifax, Experian and TransUnion. This site was created to provide fair and accurate credit reports to the customers.

According to a provision passed by Fair Credit Reporting Act (FCRA) in 2003, credit-reporting agencies provide, upon request, a free credit report to every customer after a gap of 12 months. This was done to allow customers to get correct credit information and to guard against identity theft.

When you go to Annualcreditreport.com to get a copy of your credit report, you have to register there and have to provide the basic information’s like your name, address and social security number during the registration process. Then you will be sent to a credit reporting agency website you select where you have to answer few more security questions to confirm your identity before getting your credit report.

As a customer you can request the free copy of credit report from credit reporting agencies at a time or get it once from all of three credit-reporting bureaus a year. AnnualCreditReport.com site is accessible to the Internet Service Providers here in US and its territories. And using this service will not lower a consumer credit score.

You can request for a copy of your credit report via phone (877–322–8228) and you will receive your copy of credit report via mail within 15 days. You can also request it at annualcreditreport.com and you will have instant access to your credit report. You can also fill in Annual credit report request form by mailing to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281 and get your credit report via mail within 15 days.

Using credit repairing software?

Credit repair software helps customers to repair mistakes or inaccurate information from their credit reports and also enables them to improve their credit scores. There are many companies who have introduced credit repair software giving consumers a hint how their actions have affects on their credit score.

Some of these credit repair software direct the consumer through the complexities of credit scoring models, credit score simulation, loan qualification, and automate the process by generating letters for disputing errors and negotiating with creditors and tracking progress.

The most lawful software programs are those that have passed the strict guidelines for permissible purposes from the credit reporting bureaus and those who actually pull a credit report within the software program.

Good credit repair software enables the customers to repair inaccurate and error information from their credit report. By repairing the inaccurate information from their credit reports, consumers will be able to improve their credit scores.

These software programs enables a customer to report the errors as well as update his credit files quickly. But before making the decision to buy any of such credit repairing software, make sure that you really need it.

It is best that when you obtain a copy of your credit report and then you decide whether you need any of such software programs. In case you find something that need to be addressed and sort out quickly, then buying such software can be very vital.

And in case you are looking to buy such kind of software, you should look for the companies who updates their software according to the new laws that are appearing or one already in place are also updated. Also make sure that they have the correct legal form that you will be using as a way to repair the errors from your credit report.

Using credit report monitoring services to detect identity theft

Credit report monitoring is the process of monitoring your credit report as a way to find doubtful activities and changes in your credit report. Companies provide this service on a subscription basis. Credit monitoring can help you find fraud and identity theft kind of activities from your account.

It is advisable to get credit reports or credit monitoring services from all of three national credit reporting bureaus to detect criminal activities from your account. Credit monitoring provider companies inform you about important activities such as inquiries, public records, delinquencies, negative information, and employment changes, new accounts, address changes etc.

There may be many people who suggest you to check your credit reports once a year. But I will recommend frequent checking of your credit files to detect criminal activities from your account.

And incase you prefer to get your credit report only once a year, then you may be too late to get notice of the identity theft activities from your account. But with credit monitoring services, you will get alert on daily or weekly basis about the changes in your credit and that will surely help you to stop theft activities before they gets out of control.

According to Federal Trade Commission, approx 10 million people became victim of identity theft last year and each victim had to pay an average of $5,000. But two third of victims who were able to find the misuse of their personal information within five months, not had to pay out of pocket expenses. So this is what credit monitoring is. It cannot stop the credit fraud related activities from your account, but can cut down their effect.

Some steps to avoid identity theft

According to a recent report released by Federal Trade Commission, about nine million Americans are being affected by identity thefts every year. The problem has become so big that President Bush commissioned a task force to find solutions to this problem recently.

The April 2007 report, titled “Combating Identity Theft: A Strategic Plan,” concluded that reducing opportunities for identity theft and increasing public awareness were two of the most vital steps in reducing the number of victims.

A latest press report states that more than 17,700 cases of identity thefts were reported in Florida last year. Florida is on the fifth spot in US among identity theft complaints. Although there is none who can remove the occurrence of identity theft completely, but people can take positive steps to reduce the risk of being cheated by the crooks.

Thieves can use any tactics to get your personal information. And the best way to ensure your identity is not being stolen is regular checking of your credit files at annualcreditreport.com

According to a press release from Florida Agriculture and Consumer Services Division, when you make purchasing online, do shopping only from decent stores and also do not forget to check your privacy policy before making a purchase.

People need to keep the best anti-virus and spyware they can afford. And incase you become the victim of identity theft, contact FTC (Federal Trade Commission) on their consumers hotline 1-800-435-7352 and for info visit

www.ftc.gov/bcp/edu/microsites/idtheft/