Credit Reports

Did you know that you are entitled to a free copy of your credit report each year from each of the three major credit bureaus?

How to Order Your Credit Reports:

1. Online at http://www.annualcreditreport.com/

2. By calling 877-322-8228 or

3. By completing the  Annual Credit Report Request Form and mailing it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

If you need help understanding or deciphering your credit report, give us a call at 503-228-0316 and we will help you.

Basic Information about Credit Reporting

Creditors report to each credit bureau they are a member of.  Not all creditors belong to all three major credit bureaus.  That is why you will sometimes see a debt reported, for example, on one credit report but not the others.  Order all three to be sure you have a complete list.

Your credit report should show debts such as credit cards, loans and installment debts, collection agency debts and court judgments.  Your report probably will not include your personal debts and medical debts, unless these debts have been turned over to a collection agency, because it is up to the person or entity you owe to report that to the bureaus.  Generally, individuals and medical providers are not members of the credit bureaus and do not report your debt to them.

Negative information remains on a credit report for at least seven years, and for  ten years in the case of Chapter 7 bankruptcy, and may of course, hurt your chance of getting additional credit. While exceptions sometimes exist, when negative information in your report is accurate, and can be verified, only the passage of time can assure its removal.

Sometimes, credit reports contain information that is outdated or incorrect.  This is why is important to review your credit reports at least once each year. 

Credit Repair

When you discover that  information in your credit reports is out of date or inaccurate, you are entitled to have such  information removed from your report.    Each creditor bureau has a "dispute form" that is included with your credit report. You must write to the credit bureau asking them to reinvestigate and confirm such information. Generally, they must comply with your request within 30 days. 

While it can often be frustrating to deal with credit repair on your own, it may be the most cost effective way to proceed.  For more information and strategies for repairing your credit click the link below.