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What Agencies Keep Tabs on Your Finances? It’s Important To Check Up on Them
Besides credit reports did you know that there is an electronic database that keeps files on your auto insurance dealings and a medical-file bureau?
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:
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 go to www.equifax.com. 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 go to www.experian.com.
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.
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.
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.
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