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How to Use Your Free Credit Report

The United States Government continues to aggressively target those who used their credit cards for illegal purchase activity. Today this practice is greatly reduced as most of the credit card companies will delete most of their criminal charges and convictions from your report.

It is important to consider the following four steps to repairing or even eliminating your credit card charges and charges.

1. Contact the card issuers and issuers’ networks with the following information:

1- It is to your knowledge the first and final step in reporting all charges on your credit report.

2- It is to your knowledge the first step in creating a clean slate for your credit report. At the very least, it should be removed from your credit record as soon as the following January. If possible, contact your credit card issuers and their networks immediately if this has not been done already.

3- If your transactions fall into one of the categories outlined above, you have a very real chance of becoming a victim of identity theft. You can become a victim of this in the very near term by becoming unaware that you are at risk.

4- You have the right to know if your credit card company reports to any of the following credit reporting agencies:

Credit Reporting Agencies:

American Express, Experian, and Dun & Bradstreet
To take-notice, contact the majority of these credit reporting agencies as soon as they receive your report.

American Express: 800-397-4523; Equifax, Experian, and TransUnion

Experian: 800-685-1111; TransUnion (E): 800-685-1111

As you can see, the three major credit reporting agencies have reported your reported transactions to the three aforementioned agencies. A good place to start contact your credit card issuers and issuers after the three most recent companies have reported suspicious activity is to visit their websites or call them at their regular toll-free numbers (888) NUMBERS (877-322-8228). Many issuers are open for business 24 hours a day, seven days a week, and 24/7.

In the past, they have mostly reported suspicious activity from your previous transactions, unless you are a victim or have filed an apparent credit fraud claim in the past. In the past, the credit reporting agencies have gone to great lengths to combat fraudulent claims, in order to protect customers. Unfortunately, as of October 20, 2003, there are only two remaining organizations offering free credit reports from Experian (through 25 April 2003) and Equifax (through 1 April 2003). Under the terms of the Fair Credit Reporting Act (FCRA) from the time of your original lawsuit (March 29, 2005), the remaining three (Experian, TransUnion, and Equifax for example) will charge you $29.50 for an annual fee. After that you pay 33% (or $5.74 per $100 spent), and the remaining 30% (or $5.30 per $100 spent) will be shared equally by the three reporting agencies. Sounds pretty good, doesn’t it? You’d be surprised at how much it cost me to clean up my credit report.

As for the remaining three (Experian, TransUnion, and Equifax for example), credit reporting agencies will separate your reported dollar amounts from reported profits. After the reported profits have been reported in the three remaining reporting agencies’s reports for 35 years, your total yearly earnings will be close to $750,000 (or $10,240 per family per year, when all of the following is included in consideration). This alone would have cost me about $18,000 a year from 31 January 2003 to 31 January 2006). Even if you avoid being a victim of crime, you could be facing fraud charges and possibly imprisonment.

When contacting one of the three reporting agencies, remember that you are a victim of crime in the US (and that you are being victimized by criminals). When you contact the others, remember that you are victims of crime and must make sure that you are being treated fairly. Make sure that everything you buy has to be on your credit report, even if you claim that your purchase was legitimate. You may be awarded with a free report, but only if you notify others that you purchased the item (you’re entitled to one free report a year if you register the complaint).

It is not unusual to find that creditors or other creditors who have collected or reported your account balances have done so to punish those who were victimized by crime. Try contacting the reporting agencies immediately if you believe that you have suffered such an offense. If they deny the request for follow up, you are immediately being charged with “liablejacking” your way out of debt.