You are also entitled to a free report once a year if you certify: you are unemployed and seeking employment; you are receiving public welfare assistance; or you believe your credit file contains inaccuracies resulting from fraud.

Otherwise, you will need to pay a fee for each report you request. Equifax, Experian (TRW), and Trans Union are the top three credit bureaus.

Although credit bureau reports may not look alike, they contain many of the same items. Usually included are your credit record and relevant facts such as your age, address, marital status, and employment history. When reviewing, check the details! Be sure your name is spelled right, and the record shows the correct Social Security number and birth date. Any phone numbers, addresses and employer information should be up-to-date.

A credit bureau report also lists your creditors (such as retail stores, mortgage companies, and credit card companies.) You can check for obvious problems, but be aware that lenders also look for certain behaviors. For example, even if you have no outstanding balances, holding or applying for several credit cards may hurt your cause. Or your debt ratio, the percentage of your monthly income that goes towards credit payments, may be higher than acceptable.

You may also be denied credit if you have not established enough of a credit history to be evaluated.

At Original Mortgage, we understand that some times good people have less than perfect credit. We can work with you to find a program that's right for you.

If the information in your report is inaccurate or unfair, you will need to correct it. This can take some time and effort on your part, but remember - a negative report will haunt you for at least seven years.

First, contact the creditor that filed the complaint, correct the error and ask that any credit bureaus involved be notified in writing. Be sure to document your efforts. If the credit bureau made the mistake, challenge it. By Federal law, it will have to delete the disputed information if it can't be confirmed. Both the credit bureau and the creditor who filed the derogatory information must help you resolve the issue in a timely manner, within 30 days.

With new regulations effective October 1997, both your creditor and the credit bureaus must take reasonable steps to ensure that incorrect information does not reappear in your file after it has been removed.

Note: Paying off a delinquent account will clarify that nothing more is owed, but the fact that it was once delinquent can stay on your record up to seven years. Similarly, closing an account doesn't remove it from your credit report.

Notify the credit bureau(s) at once. They can offer advice and help you put together a list of affected creditors to notify. They also add a fraud statement to your report. This action alerts future creditors to verify your identification before granting credit. Although the credit bureau may be helpful, bear in mind that it is your responsibility to notify creditors of fraud.