This week is all about getting organized and finding your financial baselines. One of the best ways to get your arms around your household’s financial health is to check your credit report. You may be tempted to hop on freecreditreport.com (I know, the catchy lyrics are ringing in my ears, too), but the best place to go for free, comprehensive credit information is annualcreditreport.com.
Through this site, you can obtain data about your credit history from the three major credit reporting firms: Experian, TransUnion, and Equifax. You won’t be able to see your actual credit score–the agencies still charge for this–but you will be able to make sure that your credit report doesn’t include any mistakes that could harm your ability to obtain credit at a decent rate in the future. Checking these reports is also a good way to ensure that identity thieves haven’t obtained credit in your name. You can obtain free basic reports from the three credit reporters once a year.
I recently obtained my credit reports using annualcreditreport.com, and found the site to be quite easy to use, so long as I was able to ignore the steady barrage of upsells for paid credit services. After inputting some basic information about myself, including my address, birth date, and Social Security number, I was transferred to the first of the three agencies’ sites, where I then answered a few additional security questions.
TransUnion, Experian, and Equifax display credit information in varying ways, but all three show you the names and some basic payment history related to your credit accounts, both now and in the past. The sites also show you whether you’ve been late with your payments or have had some other type of problem with a creditor.
Eyeball all three credit agencies’ reports to ensure that your credit report syncs up with reality, and print each of these reports for further perusal. If you see any information that appears to be incorrect, go to the Federal Trade Commission’s Web site for guidance on filing a formal dispute.
This thing was constructed by
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Jim has worked as a Portfolio Manager & Financial Advisor since 1996. In May 2005, Jim founded WHI Financial Services, LLC, WHIFinancial.com, a Registered Investment Advisory firm, with headquarters in Texas. His primary focus is on portfolio management, financial & retirement planning, and financial advisory & insurance services. Jim manages investment portfolios & advises individuals, small to mid-size companies, and non-profit organizations on a variety of financial and business issues.
Prior to founding WHI Financial Services, LLC, Jim worked as a portfolio manager & financial advisor for two international investment firms. From 2001 to 2005, Jim worked with Prudential Securities (merger with Wachovia Securities, now Wells Fargo Financial Advisors), and from 1996 to 2001, he was working with Merrill Lynch. While working with both Wachovia Securities and Merrill Lynch, Jim enjoyed dual responsibilities as a portfolio manager, financial advisor and leader of the Professional Development Program.
Jim's responsibilities as leader of the Professional Development Program included, recruiting, interviewing, training, and overseeing the daily operations of all financial advisors involved in the Professional Development Program. Jim was responsible for managing between 10-20 advisors, while still managing his own client investment accounts.
In addition to his experience in the financial services area, Jim has been involved in several start-up companies. Jim's Philanthropic work includes serving as President/Treasurer of a private foundation established to provide non-profit organizations financial assistance, and Chairman/President of the Believe In Your Dreams Foundation. In 2007, Jim established the Believe In Your Dreams Foundation, a 501(c)3 organization, to help individuals who are suffering from life-altering circumstances beyond their control.
Jim has taught investment, insurance, and credit repair classes through continuing education at universities in CA & TX since 1997. Jim attended the University of Minnesota where his focus was Management & Marketing.
Jim has recently written two books, one called "Your Financial Lifecycle" a book which describes several key investment topics everyone will face throughout their life, and a book titled, "The Truth about Your Credit Score", which defines how credit scores are calculated and how you can increase your credit score, including templates which you can use to send to creditors.
Jim's books can be purchased on Amazon.com, via Author search, or by emailing him directly at JimWigen@GetWealthyStayWealthy.com.
In the Fall of 2011, Jim will be starting his radio show called, The Jim Wigen Show, Teaching You to Get Wealthy & Stay Wealthy. You can hear his shows through streaming audio by visiting JimWigen.com.
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