Free Credit Report and Government Role

Have you ever wondered what the government role in free credit report is? We hear people talk all the time about the government and how it made getting a free credit report once a year possible but most of us do not really understand how. There was a time when the credit system was fairly new and for this reason people were just misusing it left and right. Consumers had no idea what was being said about them and they had no way to defend themselves. Because of this it became necessary for a government role in free credit report. They implemented a system which would allow consumers to see their report once every year. This was written in the FCRA- Fair Credit Reporting Act. Therefore, the government role in free credit report was in changing laws to protect consumers and they continue to monitor new and better ways to do this.

Today there are even more services available to people who want to continuously monitor credit. There are sites that can be joined for a nominal monthly fee and the way these work is they keep a 24 hour/7 days a week and 365 days a year watch on your credit report and score. The moment anything is added to your report you are notified. The money any of your scores change for the better or worse you are alerted. This is highly recommended for anyone who holds lines of credit in a number of places. Remember that mistakes can wind up costing you a lot of money if you are not aware of them. By having credit monitoring services there will be no way for errors to get past you or for anyone to defraud you. This offers you peace of mind regarding the safety of your credit report and score.