Starting on Jan. 1, 2005, Americans have the right to receive one free credit report each year from the three big credit reporting agencies, though access will be rolled out gradually. But the agencies -- Equifax, Experian, and Trans Union (their names are also their Web site addresses) -- have taken that mandate and turned it into a marketing opportunity. As part of the new law, the companies have been given permission to market other fee-based services, which they say will help them cover the costs of the new legislation. Experian''s Triple Alert will monitor your credit on an ongoing basis for a $4.95 monthly fee; Trans Union offers identity-theft insurance and debt analysis services for $5.95 per month; and Equifax offers notification of new programs if you agree to a free, 30-day period to review their reports. Privacy Rights Clearinghouse director Beth Givens urges consumers to avoid unnecessary charges and suggests that you don''t request all three credit reports at the same time. To discover any recent changes, request just one credit report, on a rotating basis, every four months.
Russ Ravary is a licensed real estate agent in the State of Michigan and a Realtor.
Photos, Comp and Listing Information Courtesy of Realcomp II Ltd, Properties shown have been listed and sold by various MLS member REALTOR® agents.
I do not guarantee or warrantee any of the above information. Please feel free to verify any of the facts. I recommend to always have a home inspection, always consult an attorney about contracts, Purchase agreements and any legal questions. Also consult a CPA or accountant about tax consequence regarding a Michigan home sale, or Michigan foreclosure.