Kanjorski Encourages Constituents to Obtain Free Credit Reports

Review Can Help Fight Identity Theft

Wilkes-Barre, Pa. - Congressman Paul E. Kanjorski (PA-11) is encouraging constituents to take advantage of the Fair and Accurate Credit Transactions (FACT) Act, which allows Pennsylvanians to receive one free credit report annually from each of the three national credit bureaus. As a senior member of the Financial Service Committee, Congressman Kanjorski was a leader in the effort to pass the FACT Act in 2003. This legislation permitted consumers, who previously were charged between $9 and $15 to obtain their credit reports, to obtain the documents free of charge.

"In today's society, nearly everyone purchases goods or services on credit, whether buying a home with a mortgage or fueling a car on a credit card. The use of credit reports eases the availability of credit for consumers, and they can also help us to protect ourselves against identity theft. By carefully reviewing our credit reports, we can make sure that false accounts have not been created using our information. The fact that credit reports are now free of charge is a big incentive for more consumers to obtain them," Congressman Kanjorski said. "Additionally, it is important to monitor our credit reports for errors because they determine whether we get loans for major purchases such as a home, an appliance, or a car, what we will pay to get these loans, and whether we will qualify for insurance or even a job. Even a seemingly small mistake, such as a misspelled name, can hinder the loan process."

The Federal Trade Commission reports that identity theft has risen 20 percent each year since 2002.

A credit report contains information on where you live, how you pay your bills, and whether you have been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information to creditors, insurers, employers, and other businesses that use it to evaluate applications for credit, insurance, employment, or renting a home.

The three nationwide consumer reporting companies - Equifax, TransUnion and Experian - and have set up one central Web site, http://www.annualcreditreport.com/. This Web site is the ONLY authorized online source for you to get a free credit report under federal law. Consumers may get a free report from each of the three national credit reporting companies every 12 months. Some other sites claim to offer "free" credit reports, but may charge you for another product if you accept a "free" report.  Please type the Web site's address in very carefully.

You can also call 1-877-322-8228 or write to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You will have to provide your name, Social Security number, date of birth, and address (and prior address if you have moved in the past two years).

The Fair Credit Reporting Act specifies how your credit account can be accessed. Those who have a legal right to access your report include creditors, insurers, employers, and other businesses that use the information in your report to evaluate your applications for credit, insurance, employment, or renting a home.

The Federal Trade Commission, the nation's consumer protection agency, enforces the Fair Credit Reporting Act.

If you think you have been the victim of identity theft, the Federal Trade Commission recommends the following steps:

1) Place a fraud alert on your credit report. You can call any one of the three agencies and the others will be notified. The telephone numbers are: Equifax, 1-800-525-6285; Experian, 1-888-397-3742; and TransUnion, 1-800-680-7289.

2) Close the account(s) that you believe were tampered with or opened fraudulently.

3) File a report with your local police.

4) File a complaint with the Federal Trade Commission by calling 1-877-438-4338. You can file an online report through the Web site www.consumer.gov/idtheft.

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