We often advise our clients to go online and obtain their free annual credit report.  Credit reports can help us determine whether all of the liabilities have been disclosed and what liabilities an individual may have.  While credit reports can be obtained from various reporting agencies (Experian, TransUnion, and Equifax), many times consumers wind up paying for credit monitoring or other services they may not need. 

 

A free credit report can be obtained yearly from the government approved site found at

www.annualcreditreport.com.  The annual free report contains the information provided to all three credit reporting agencies.  Many consumers also want to know their FICO score, which many lenders use to determine creditworthiness.  There is no free FICO score, but the score can be obtained by going to www.myFico.com and paying a small fee.

 

What clients should NEVER do is to try and obtain their spouse's credit report or FICO score without their spouse's express permission.  Without permission, a person can risk violating the identity theft statutes.  The information can be easily obtained in a divorce by agreement, or by requesting production of the credit report.