Have you gotten your credit report yet for 2010? I get one every year and make sure I keep a copy on file. I used to print out the entire thing (one for each agency too) but starting this year I think I'll just keep a PDF copy. It will kill fewer trees

People should do this every year.

Sometimes there can be big mistakes on your report that don't belong there and you need to clear them up.
In our case, it was someone else with the same first and last name as dh with credit/payment problems. The bank notified us. The imposters bank was hundreds of miles away where we never been. It took months for us to clear it up.
It was no picnic.

Just a reminder to get your credit report updated every year! The federally mandated (in the US) official FTC free report page is here -

FTC.GOV Free Credit Report

They warn you explicitly NOT to use any of the other sites you see advertised because none of those are associated with the US government / Fair Credit Reporting Act. This page here is the official, proper one to be safe.

Check it yearly! It's free and important!

Voila! I did a few other things, then went to that link and started the process. I'm already all done! It was quick, easy, and painless. I saved each of the files to my hard drive which I will now back up.

It's the perfect way to ensure you keep an eye on your accounts and are safe from identity theft!

This really is important to do. I've had two friends who were victims of identity theft, and neither one even knew it was happening until something drastic occurred. One got a call from her bank about her house being sold! The thief was impersonating her and selling my friend's house out from under her. Scary stuff. Keeping abreast of your credit report can help you spot these kind of scary things early.

--Maria

When doing this to check for fraud, clean it up at the same time. I used to be a mortgage underwriter and examined credit reports everyday and almost every credit report had errors. There are some not so obvious things to look for. When checking your credit report make sure your name and ss# is correct. There may be a section that has aka (also known as)with other names. Correct any wrong info.

Address: a credit report will show previous addresses. Make sure these are okay too.

Employment - again, have any incorrect information removed.

Sometimes surnames show up, jr., sr., II, III. These can become a nightmare. Get them corrected.

If you ever apply for a loan, these simple can become nightmares especially in today's environment. Believe it or not, your credit report tells a chronological story which is thoroughly examined to see if you reported the truth in the application.

Hope this helps some people.

Maria - that is really scary, I can't believe that thieves would try to do something like that!

Rosemary - that is great advice! I do actually have a "Jr" showing up on my report, which is odd, but I've always ignored it, So I should work on getting that removed?

Lisa, I definitely would try to get the "Jr" removed. Today's lending world is becoming a burden on consumers and anything small can become a nightmare. If it was an issue in the past when things were lenient, I can only imagine what an issue it can be today. I no longer underwrite but I am current with what is going on and new guidelines. It is easier to take care of them annually as they creep up than all at once when you try to get a loan.

Rosemary

Just another little tidbit for those who apply for mortgages. A lot of things go on behind the scene that the regular consumer is unaware of. Every name now goes through and is checked against a "suspicious activity report" on every loan that is processed. This is part of homeland security. For government loans, every name and social security number is put through a Federal computer system gsa/ldp report. If you ever owed the government money and didn't pay, it will come up.

Rosemary

Haven't gotten one for this year yet but you just reminded me, thanks!