What
Agencies Keep Tabs on Your Finances? It’s Important To
Check Up on Them
September
15, 2002
In
addition to credit bureaus, which keep records of
individuals’ credit habits, did you know that there is
an electronic database that keeps files on your auto
insurance dealings? There is also a large medical-file
bureau. Just as the information in your credit bureau file
can stop you from getting credit, data in the auto
insurance database can stop you from getting car insurance
and data in the medical-file bureau can stop you from
getting health insurance.
That’s
why it’s a good idea to check up on these three
record-keepers to make sure their records on you are
correct.
Here’s
how to do it:
Credit
Bureaus
To
get a copy of your credit report from each of the three
main credit bureaus, call or write them and request a
report.
Equifax:
Call 800-685-1111. Or, to request a credit report on
Equifax’s Website, click
here. The report is free if you have been denied
credit; otherwise you’ll pay $9 for the report in most
areas.
Experian
(ex-TRW): Call 888-EXPERIAN. The report costs $9.74. To
request a credit report on Experian’s website, click
here.
Trans
Union: Call 800-916-8800. To request a credit report
on Trans Union’s Website, click
here. Same pricing policy as Equifax.
The
best course of action is to request a report periodically
from each of the three bureaus. Check your report
carefully. If you find an error, write to the bureau
requesting a correction. If the bureau doesn’t agree to
fix the mistake, you have the right under federal law to
add a statement to the credit report, disputing the
information. Or you can ask the creditor who reported the
error to correct its report.
Auto
Insurance
If
you’ve been denied auto insurance, or charged more than
you thought you were going to pay, it’s a good idea to
check your Motor Vehicle record. To do so, call
ChoicePoint at 800-456-6004.
Medical
Reports
The
Medical Information Bureau (MIB) keeps files on about 15
million individuals. More than 600 insurance companies
supply MIB with data. An insurer uses an MIB report in
deciding whether to issue a health policy to an
individual, and how high premiums should be. The MIB
report contains information on chronic health conditions,
and on accidents you’ve had, among other things. If
you’ve been denied health insurance, check your MIB
report to make sure it’s accurate. Even if you have
health coverage, it’s a good idea to check out the MIB
report to avoid problems in the future. Call 617-426-3660,
or click
here.
|
