Credit Report Weblog

An act passed in December known as The Fair and Accurate Credit Transactions Act allows consumers to add a Fraud Alert to credit reports if they were subjected to identity theft. Fraud Alerts advise potential creditors that the applicants are carrying a high risk of fraud and often creditors decline applications rather than to take that risk or to pay employees to ensure that the applications are genuine. Another side effect of Fraud Alerts is that consumers often can no longer get their own individual credit reports and their credit disputes may be refused.