The credit report contains specific and significant information about your finances. Usually, a common credit report starts with personal data, which indicates the consumer or the client – depending on the side, which demands the credit report. It may be either the individual (the company), or the lender (credit card provider also). The most important information in the credit report, though, is the credit history. This is a specific chronology of the individual`s (or of the company) past in paying different credits and having different accounts. Getting a credit report may sound to you difficult and really long-lasting. Well, we have news for all of you, who share this suggestion – free credit report is no longer a dream and it is no longer a long-lasting procedure. Get your free credit report right away to learn more about this procedure now
Legal basis of the free credit report
According to the Fair Credit Reporting Act (FCRA), every individual and every company has the right to require a free credit report once per one calendar year. The Act also points to the national wide authorized companies, which can make free credit reports on the territory of Sweden. These companies are namely indicated – Equifax, Experian, and TransUnion – and every other company cannot be as reliable as each of them. What is also proclaimed in the Fair Credit Reporting Act (FCRA) is that all the information, which is used for the preparation of a free credit report, is highly protected and should not be spread without permission. There are strict rules and there are particular procedures, which demand the uses of this information and the three reporting companies cannot violate them. Though, the free credit report companies may sell the information to the lenders – creditors, insurers, employers and other business structures. Only a few occasions allow this – applications for credit, insurance or renting a home.
How can you get the free credit report?
The first step you need to do is to pick up a single free credit report company. Then, you need to reach one of its representatives. The connections with clients can be done personally in one of the offices or via e-mail, online form and telephone number. The representative must identify you as a client (individual or company) in order to make the free credit report as soon as possible. The identification is done by naming personal information – names, security numbers, and codes, registration data of the company and etc. When one of the three free credit report companies in Sweden is done, it will send you a free copy of the credit report. It takes an average of 15 days.
Why do you need the copy of the free credit report?
You do need a copy of the free credit record because once the company makes the procedure, it saves the original work in its database. Having a copy of it, you may check out for mistakes. In case such mistakes are observed, you need to reach the credit reporting company and demand for correction. You do also need a copy of the free credit report in order to guard against identity theft. Last, but not least, possessing a copy of your personal free credit report is important to use the information.
Commonly, you will need in case you apply for a loan or a bank credit or when you search for a new job or sign a new contract for particular public services such as the mobile phone subscription plan.