credit report - Identity Theft Law: The Good, The Bad, and The Ugly

If you do any research about identity theft law you will quickly find that identity theft is an easy topic to find information on. There are hundreds of companies that employ excellent identity theft laws to protect their customers and others. That same information also helps identity thieves to create new plans of attack. Did you know that the laws to protect people from someone using another person's personal information were not too strict until about ten years ago? The internet has played a huge role in bringing this growing problem with identity theft to the surface. The government finally had to start cracking down on just what was legal to use and what was not. Guilty or Not Guilty This is The Question One of the main reasons that there was such a lack in good identity theft law was because there were very few qualified people to do the research. It was also a very hard crime to prosecute in court. Most people who were accused of identity theft could get off with little or often times they received no sentence at all since the laws had not been firmly laid out. The Birth of the Free Credit Report One of the best advantages for you, as a consumer, is the fact that with the new identity theft law that has been laid out the three major credit reporting agencies must provide you with a free credit report. Everyone is entitled to at least one free credit report per year from each of the three major credit reporting agencies. You may also ask for a free report if you are ever denied credit when applying for a loan. You would be wise to do your research on the new identity theft law and know what your rights are. You should also make sure to stay aware of your credit status and take advantage of the free reports that are allowed you because of the identity theft law. If you need more identity theft help then quickly head over to http://identitytheftnow.com where you will find helpful identity theft tips, advice and resources including information on how to avoid identity theft, credit card identity theft, and more Identity Theft Law help. Article Source:http://EzineArticles.com/?expert=Tom_Turner credit report - Credit Repair isn't Magic We all are looking for the fastest way to get the things we want. People charge up their credit cards because it is quick and seems painless at first. Those with debt and credit problems want to fix it and move on as fast as possible. This is a good goal, but if you rush things too much, you could find yourself a victim of a fraud. Credit-related frauds and scams target the inexperienced, the elderly and the desperate. They are specifically looking for someone who will jump on an idea without thinking it through. You pay up front, but they never deliver what they promised. These scams can cost you as little as your up-front payment or cost you as much as your home. The Federal Trade Commission specifically warns consumers to be wary of all "companies that want you to pay for credit repair services before they provide any services." Credit repair services that charge up-front fees are specifically breaking the law. It is illegal to charge you before the services are rendered under the Credit Repair Organizations act. However, there are many companies who regularly collect up-front payments. Let's get one thing straight to begin with -- you don't need anyone to help you clean up your credit report or score. What can be done has to be done by you. Do a little homework on raising your credit score and improving your credit history and you will find that it is really quite simple. Some credit repair companies will tell you to dispute all of the derogatory information in your credit report, even if it is true. They are hoping that the credit bureau will not be able to verify all of the items before the 30-day time frame is up. However, this strategy doesn't work. If something is taken off that is accurate, it will be put back on. You also risk the chance of having the agencies decide that all of your future disputes are "frivolous" under the Fair Credit Reporting Act. This means that they won't even be considered. There are many companies out there that tell you to apply for an Employer Identification Number from the IRS and use this instead of your Social Security Number to apply for credit. This is illegal. You could go to prison for doing this and face heavy fines. Credit repair is a simple process. It is absolutely free. There is nothing that they can do that you can't do for yourself. If you are having serious financial difficulties, turn to a financial advisor or credit counselor, not credit repair services. You will find that a solid financial plan has the added benefit of helping you to repair your credit. You can repair your negative credit without having to pay a penny to anyone. Take the time to research your options before you jump into anything that promises to be a quick fix. These promises usually cost you money.