New Law Would Allow Free Copy of Credit Report

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Byline: Mike Clark, Times-Union Reader Advocate

Dear Call Box: Is there a federal law that requires credit reporting agencies to provide persons with one free copy of their report each year?

J.M.

Dear J.M. There is such a law, part of sweeping changes in the Fair Credit Reporting Act, and it should take effect sometime this year. The Federal Trade Commission must have a final rule by Friday, June 4, an FTC spokesman said. The rule would allow consumers to request one free copy of their credit report per year.

The best way to find out when this will take effect is to follow Call Box or keep your eye on the FTC Web site, www.ftc.gov.

This is the same federal agency that handled the Do Not Call Registry, so they are sensitive to credit agencies being deluged with requests at once. They might phase in the effective date.

Until that law takes effect, you can pay to obtain a copy of your credit report, and you may obtain free copies for certain instances. Georgia residents are entitled to two free credit reports per year, Equifax reports. Also, you have the right to dispute information in your report, know who inquired about your credit and other rights. …