One concern you may have after debt settlement is how your credit was affected. You should expect to have some type of negative impact to your credit, even if it’s just a recording of the settlement process on your credit report. There are a few ways to check your credit report and credit score for free. Use these methods after debt settlement if you want to see where you stand.
Free Annual Credit Report
The Fair and Accurate Credit Transactions Act was passed in 2003 and gives you the right to view your credit report for free once every twelve months – one from each major credit bureau (Equifax, Experian, and TransUnion). Get this free credit report by visiting AnnualCreditReport.com. The website also contains instructions on how to order your annual credit report by mail and by phone.
Free Report and Score When You’re Denied
For years, it’s been the law that you can get a free credit report within 60 days after you’re turned down for a credit card or loan because of your credit report. Now, under the same circumstances, you’ll automatically get a free credit score, too. Not only do you get your free credit score, you’ll also get a list of up to four factors that hurt your credit score. This free credit score is also sent when your existing loan terms become less favorable terms because of your credit score.
While the bank has to send the free credit score without any action on your part, you have to actually request your free credit report. The bank that denied your application should send instructions for getting your free credit report.
Other Free Credit Report
Federal law gives you the right to a free credit report a few other times too. You can get this free credit report if you’ve been a victim of fraud or believe you’ve been a victim, you’re unemployed and planning to look for a job within 60 days or if you’re receiving government assistance. You can get these free credit reports one time during the year as long as you meet the circumstances. You should get these free credit reports directly from the credit bureau, not from AnnualCreditReport.com.
Websites With Truly Free Credit Score
There are a lot of free credit score gimmicks out there. They offer a free credit score, but only if you sign up for a free trial to their credit monitoring service by entering your credit card number. They’re hoping you’ll continue their service probably either because you forgot or perhaps you genuinely like the service. The thing is that your credit score isn’t really free if you end up paying for a credit monitoring service.
CreditKarma.com and Quizzle.com are two websites that give you a free credit score without requiring you to sign up for a credit monitoring service. Neither of these even asks for your credit card number, so there’s no way they can charge you without you knowing. Credit Karma lets you check your free credit score as often as you’d like while Quizzle gives you a free credit score once every six months.