A: Your credit history, and other personal information about you, is collected and kept on file with major Credit Reporting Agencies ("CRAs"). CRAs provide your credit report information to businesses that, under the law, have the right to obtain and use your otherwise private credit information when, for example, you apply for credit, insurance, or employment. You have a credit record on file at a CRA if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains information about your debts, and credit payment history. It also indicates whether you have been sued, arrested, or have filed for bankruptcy.

Annually, over 2 billion credit reports are sold to businesses, so most American consumers have had their credit reports looked at many times each year. However, every year only a small percentage of consumers ask for and receive copies of their own credit reports.

Q: Why should I care about possible errors in my credit report?

A: While a good credit report can help you, errors in your credit report can cost you

money. The General Accounting Office of the U.S. Congress has stated that accurate credit reports are critical to the credit process ? for consumers attempting to obtain credit and to lending institutions making decisions about extending credit. Similarly, the Federal Trade Commission has told consumers that, because businesses use credit report information to evaluate consumers' applications for credit, insurance, employment, and other purposes allowed by the Fair Credit Reporting Act (FCRA), it's important that the information in consumer credit reports are complete and accurate. Industry officials and studies indicated that credit report errors could either help or hurt individual consumers depending on the nature of the error and the consumer's personal circumstances. Although the government concluded that there was insufficient evidence to indicate whether significant errors were common or rare in credit reports, it did conclude that a good way to help ensure the accuracy of credit reports is for consumers themselves to review their own consumer credit reports.

If there are mistakes in your credit report costing you money, only you are in the best position to discover them and do something about it. You may think you have great credit and don't need to worry about it, but you may be surprised at what is in your actual credit report. Your report may show late payments that were actually made on time. Or it may fail to show positive information about your credit, such as accounts that you have always paid on time. On the other hand, your report may be completely accurate. Unless you check it yourself, you may not know.

Q: What is identity theft?

A: Criminals can use consumers' information for their own benefit. By stealing a person's private financial information, thieves can pose as that person and run up thousands of dollars in debt in the victim's name. The Federal Trade Commission estimates that more than 27 million Americans have been victims of identity theft in the last 5 years, including 9.9 million'Americans in the last year alone. The sooner you realize you're a victim of identity theft, the less damage can be done. People whose identities have been stolen can spend months or years, and their hard-earned money, cleaning up the mess thieves have made of their good name and credit record. In the meantime, victims may lose job opportunities; may be refused loans, education, housing or cars; or even get arrested for crimes they didn't commit. The risk of identity theft is another reason why looking at your own credit report regularly is so important. In fact, the FBI recommends that everyone check their own credit report twice a year.

Q: Can I see what is in my credit report?

A: Yes. If you contact any of the major credit reporting agencies, they must give you the information they keep on file about you. There are three major credit reporting agencies in the country that probably have a credit file on you. They are Trans Union, 1-800-916-8800, www.transunion.com; Equifax, 1-800-685-1111, www.equifax.com; and Experian, 1-888-397-3742, www.experian.com. There is more information on the back about how to get a copy of your credit report.

Q: What do I need to know about free credit reports?

A: There's no charge for a credit report if a company takes adverse action against you, such as denying your application for credit, insurance or employment, and you request your report within 60 days of receiving the notice of the action. The notice will give you the name, address, and phone number of the credit reporting agency. Recent changes to the law now entitle everyone to request one free credit report per year from the major credit reporting agencies. To order your free annual report go to www.annualcreditreport.com where you can order your report directly or download the Annual Credit Report Request form to mail in your request. You can also call 877-322-8228. Otherwise, a credit reporting agency may currently charge you up to $9.50 for a copy of your report. Yot not entitled to a credit score with your annual free report. A credit score generally costs $5.95. The free credit report with a credit score included in this class action settlement is in addition to any other free report you might request. Experts agree that you should review your credit report more than once per year. Since information in credit reports changes frequently, the FBI advises consumers to check their credit reports twice a year. Even if you have not been denied credit or insurance, you may want to see the information in your credit report. You may sometimes see offers for "free credit reports," but read the fine print carefully. They are usually selling you a credit-monitoring service for a fee that you automatically register for when you order your "free credit report."

Q: What is the Fair Credit Reporting Act?

A: In 1970, Congress passed the Fair Credit Reporting Act (FCRA). The FCRA limits, among other things, the occasions on which a company may receive a copy of your credit report. It also requires the company, if it takes adverse action against you based in whole or in part on information in your credit report, to tell you of its decision The company must also tell you the name of the credit reporting agency that provided your credit report to it, and information on how to contact that credit reporting agency. The company must also advise you of your right to obtain a free copy of your credit report that was used to take adverse action against you.

Q: How can I fix errors in my credit reports?

A:Additional information about these topics is available at the website www.ftc.gov. In general, you may notify a credit reporting agency that there are errors in your credit report, and provide any documents you have to support your position. Under the law, the agency must conduct an investigation into the accuracy of the information. This includes contacting the source of the information that you believe is incorrect and obtaining verification. Generally, the agency has 30 days to investigate. After the agency completes its investigation, it has 5 days to report back to you. If the agency can't verify the negative information, it has to delete it. If the negative information stays in your file, you have the right to have it marked as disputed information.
No one can legally remove accurate negative information from your credit report. The Federal Trade Commission suggests that you be wary of companies that promise "quick fixes" or "repairs" to your credit.

A: You can find helpful information at the following locations: http://www.ftc.gov (the Federal Trade Commission website); http://www.naca.net (the website for the National Association of Consumer Advocates); or http://www.nclc.org (the website for the National Consumer Law Center).

A: Free credit reports will be phased in during a nine-month period, rolling from the West Coast to the East Coast beginning December 1, 2004. Beginning September 1, 2005, free credit reports will be accessible to all Americans, regardless of where they live.

Consumers in the Western States - Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming - can order their free reports beginning December 1, 2004.

Consumers in the Midwestern States - Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin - can order their reports starting March 1, 2005.

Consumers in the Southern States - Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee, and Texas - can order their reports beginning June 1, 2005.

Consumers in the Eastern States - Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia - the District of Columbia, Puerto Rico, and all U.S. territories can order their free reports beginning September 1, 2005.

A: The three nationwide reporting agencies have set up one central web site, toll-free telephone number, and mailing address through which you can order your free credit report. To order, type in your browser www.annualcreditreport.com, call 877-322-8228, or fill out the Annual Credit Report Request Form and mail to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta GA 30348-5281. The form can be printed from www.ftc.gov/credit. Do not contact the nationwide consumer companies individually. They are only providing free annual credit reports through www.annualcreditreport.com, 877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order from only one or two. The law allows you to order one free copy from each of the nationwide consumer reporting companies every 12 months.

If you receive an e-mail from one of these sites any link in the message is probably a scam. Forward any such email to the FTC. BE AWARE ... only one website is authorized to fill orders for the free annual credit report you are entitled to under law - annualcreditreport.com. Other websites that claim to offer "free credit reports," "free credit scores," or "free credit monitoring" are not part of the legally mandated free annual credit report program. In some cases, the "free" product comes with strings attached. For example, some sites sign you up for a supposedly "free" service that converts to one you have to pay for after a trial period. If you don't cancel during the trial period, you may be unwittingly agreeing to let the company start charging fees to your credit card.

Some "imposter" sites use terms like "free report" in their names; others have URLs that purposely misspell annualcreditreport.com in the hope that you will mistype the name of the official site. Some of these "imposter" sites direct you to other sites that try to sell you something or collect your personal information. Annualcreditreport.com and the nationwide consumer reporting companies will not send you an email asking for your personal information. If you get an email, see a pop-up ad, or get a phone call from someone claiming to be from annualcreditreport.com or any of the three nationwide consumer reporting companies, do not reply or t spam@uce.gov.

A: You need to provide your name, address, Social Security Number, and date of birth. If you have moved in the last two years, you may have to provide your previous address. To maintain the security of your file, each nationwide consumer reporting company may ask you for some information that only you would know, like the amount of your monthly mortgage payment. Each company may ask you for different information because the information each has in your file may come from different sources. WWW.annualcreditreport.com is the only authorized source for your free annual credit report from the three nationwide reporting companies. WWW.annualcreditreport.com and the nationwide consumer reporting companies will not send you an e-mail asking you for your personal information. If you get an e-mail or see a pop-up ad claiming it's from www.annualcreditreport.com or any other of the three nationwide consumer reporting companies, do not reply or click on any link in the message - it's probably a scam. Forward any e-mail that claims to be from www.annualcreditreport.com or any of the three consumer reporting companies to the FTC's database of deceptive spam at spam@uce.gov. WWW.annualcreditreport.com or any of the three consumer reporting companies also will not call you to ask you for your personal information.

A: You may want to review your credit report:

• Because the information it contains affects whether you can get a loan - and how much you will have to pay to borrow money.

• To make sure the information is accurate, complete, and up-to-date before you apply for a loan for major purchases like a house or a car, buy insurance, or apply for a job.

• To help guard against identity theft. That's when someone uses your personal information - like your name, your Social Security number, or your credit card number - to commit fraud. Identity thieves may use your information to open a new credit card account in your name. Then, when they don't pay the bills, the delinquent account is reported on your credit report. Inaccurate information like that could affect your ability to get credit, insurance, or even a job.

A: If you request your report online at www.annualcreditreport.com, you should be able to access it immediately. If you order your report by calling toll-free 877-322-8228, your report will be processed and mailed to you within 15 days. If you order your report by mail using the Annual Credit Report Request Form, your request will be processed and mailed to you within 15 days of receipt.

Whether you order your report online, by phone, or by mail, it may take longer to receive your report if the nationwide consumer reporting company needs more information to verify your identity.

There may be times when the nationwide consumer reporting companies receive an extraordinary volume of requests for credit reports. If that happens, you may be asked to re-submit your request. Or, you may be told that your report will be mailed to you sometime after 15 days from your request. If either of these events occurs, the nationwide consumer reporting companies will let you know.

A: Under federal law, you are entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You're also entitled to one free report a year if you're unemployed and plan to look for a job within 60 days; if you're on welfare; or if your report is inaccurate because of fraud, including identity theft. Otherwise, a consumer reporting company may charge you a fee for another copy of your report within a 12-month period.

To buy a copy of your report, contact:

• Equifax

800-685-1111
www.equifax.com

• Experian

888-EXPERIAN (888-397-3742)
www.experian.com

• Trans Union

800-916-8800
www.transunion.com

Under state law, consumers I Colorado, Georgia, Maine, Maryland, Massachusetts, New Jersey, and Vermont already have free access to their credit reports.

A: It's up to you. Because nationwide consumer reporting companies get their information from different sources, the information in your report from one company may not reflect all, or the same, information in your reports from the other two companies. That's not to say that the information in any of your reports is necessarily inaccurate; it may just be different.

A: You may order one, two, or all three at the same time, or you may stagger your requests. It's your choice. Some financial advisors say staggering your requests during a 12-month period may be a good way to keep an eye on the accuracy and completeness of the information in your reports.

A: Under the Fair Credit Reporting Act, both the consumer reporting companies and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the consumer reporting company and the information provider.

1. Tell the consumer reporting company, in writing, what information you think is inaccurate.

Consumer reporting companies must investigate the items in question - usually within 30 days - unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review the relevant information, and report the results back to the consumer reporting company. If the information provider finds the disputed information inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.

When the investigation is complete, the consumer reporting companies must give you the written results and a free copy of your report if the dispute results are changed. (This free report does not count as your annual free report under the FACT Act.) If an item is changed or deleted, the consumer reporting company cannot put the disputed information back in your file unless the information provider verifies that it is accurate and complete. The consumer reporting company also must send you written notice that includes the name, address, and telephone number of the information provider.

2. Tell the creditor or other information provider in writing that you dispute an item. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if you are correct - that is, if the information is found to be inaccurate - the information provider may not report it again.

A: If an investigation doesn't resolve your dispute with the consumer reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the consumer reporting company to provide your statement to anyone who received a copy of your report in the recent past. You can expect a fee for this service.

If you tell the information provider that you dispute an item, a notice of your dispute must be included any time the information provider reports the item to a consumer reporting company.

A: A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. There is no time limit on reporting information about criminal convictions; information reported in response to your application for a job that pays more than $75,000 a year; and information reported because you've applied for more than $150,000 worth of credit or life insurance. Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.

A: The Fair Credit Reporting Act specifies who can access your credit report. 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 are among those that have a legal right to access your report.

A: Your employer can get a copy of your credit report only if you agree. A consumer reporting company may not provide information about you to your employer, or to a prospective employer, without your written consent.

The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or get free information on consumer issues visit, www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters internet, telemarketing and identity theft, and other fraud-related complaints into consumer sentinel (www.consumer.gov/sentinel), a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.