Welcome to your FreeCreditCheck Guide!

First let me address why I made FreeCreditCheck Guide. Only in the last few years I purchased my first house. Before doing so I had to clear up some credit issues, which I'll go into more detail later. If I had checked both my Wife's and My Credit Reports with a freecreditcheck service, I would have avoided much stress and aggravation. I plan on sharing what I have learned over the past few years.

Why should you check your credit report?

Your credit report is a summary of your ability to pay off debt. It tracks your past performance, and records your current outstanding debt. It is used by the lending community to evaluate your ability to return borrowed money.

If I'm not borrowing money, why check my credit report now?

Because, when you aren't borrowing money is the best time to check your credit report. Borrowing money can be a stressful situation. When we borrow money and our credit report is evaluated, it's typically associated with a large sum of money, a big purchase item. Like a car loan, a boat loan, or a house mortgage. Don't compound an already stressful period of filling out forms, and waiting for a banks response, with having to clear up bad credit. Remember Bad Credit Car Loans, and Bad Credit Home Loans carry a higher interest rate than Good Credit Car Loans, and Good Credit Home Loans.

Ok, I don't want to pay for my credit report, what now?

There laws and lender agreements that make it available to you a free credit report. Now the laws are different in many states, so please check with your local consumer advocates, but typically you can get a free credit report under these conditions: You have been declined a loan, or you have been declined a credit card.

Wait, I want a

free credit check

before I ask for money.

That's the plan. You can find the latest rules on free credit reports from the US Government, but usually that states what your rights are for free reports, and how often you can request them. Now if it was as easy as just reading your Credit Report, then you are ok. Since only it seems only absolutely clean, good credit reports can be read easily.

Ok, I need help, I have a

bad credit report

.

This is where freecreditcheck services and your bank/loan officer can help. In our experiences with credit reporting agencies, so many bad credit people dispute and argue what is on their credit report, the credit reporting agencies treat all claims very mechanical. When there is a mistake, you don't want system-ma tic mechanical mumbo-jumbo, you want a person to help. So once again, this is where your bank's loan officer or a freecreditcheck service should help. We recommend you not panic, and check for references from other people, friends, or family about freecreditcheck services. Don't be surprised that most people might not even know, or have thought about checking their credit report.

Ok, I tried working with my bank, but they say they can't help, what now?

Now your only options are to become familiar with the fair credit reporting laws, or seek out advice and help from a freecreditcheck service. Many freecreditcheck services have a checklist for you to follow, that is laid out and explains details in layperson's language. Good luck, and stay calm.

Ok, any draw backs to these

freecreditcheck

agencies?

Yes. Watch for their TV commercials, you will see to get the free credit report, you need to sign up for a service, and only the first month or report is free. After that you can be charged a subscription service. Our recommendations, get the report, than based on the services offered keep or cancel the services.

Now why getting a freecreditcheck is important:

A couple of years ago, I purchased my house. Here are the order of event.

1 year prior to looking, did a credit check on myself, and started researching where we wanted to live. Cleared up any bad credit items (I think all were removed once I contested to them). Have to love the fair credit reporting laws!

1 week prior to actually looking, I founded pre-approved is better than pre-qualifying for a mortgage, since all the background checks are done, and they tell you how much money you can actually borrow. Had to chose the bank/lending institution I was going to use before becoming pre-approved.

1 day before going around with real estate agent in our chosen new home area, found out Wife had bad credit mark, and so bad it prevented us from obtaining the pre-approved rating. It was a charge off. Since it wasn't my Wife's mark, but one from her mother(they have similar names), bank said it would be easy to remove, and told us our income was pre-qualified, and get rid of bad mark, even if we had to pay it.

0 day, found house. Explained to realtor about our situation. She said in her experience it's easy to fix by simply paying the debt in full, and having it cleared(although still on our credit report). We knew it wasn't ours, so we thought we would go the route of filling a dispute against our credit report, and allowing the system to take effect.

2 days later after finding house. The sellers agreed to our proposal. We were pre-approved (this is based on income levels and house price, not our credit report; so no credit check was performed). We are now in the crapper. We put down a hefty deposit, at risk now if we can't clear a mortgage prior to closing. We really wished we got a credit report earlier on my Wife, especially with the ease of freecreditcheck services available. Credit reporting company said it had weeks before by law they had to issue a response. We waited.

5 days later after finding house. Bad mark on Wife's credit report was traced to an account Wife's Mother had. The similarity in names, and the fact their addresses were the same for years, was the cause of the problems. Wife's parents being standup people refused responsibly of the debt, and argued with us for days about the account. We really wished we got a freecreditcheck a year earlier if my in laws were going to be this big of jerks.

14 days after finding house, bad mark is removed. The credit card company who was owed money removed the mark. No need to even argue who's debt it was. My Father-In-Law argued he was a financial wizard and wouldn't have missed that debt in his personal bankruptcies. The credit card company just gave up.

Now free and clear, ordered up an couple more freecreditchecks, reason for being free a mortgage was denied Now our reports were clear. Time to sign the papers.

Moral of the story? Don't wait till you need credit to get your freecreditcheck. Many credit reporting companies provide freecreditchecks at your request or you can shop around for a freecreditcheck company/service. Good luck with all your financial planning.

Notice: This site contains information associated with the authors experiences with the Credit Reporting Services and Free Credit Checks. Since every person's financial situation can be unique, this information should not be used to substitute professional financial advice, and only as source of information pertaining to our experiences. This site does not provide free credit reports, just discuses about them.