March 4, 2008

            LANSING - Attorney General Mike Cox kicks off Consumer Protection Week 2008 by urging Michigan residents to take steps to protect themselves from identity theft and ensure their credit report is accurate. Cox's advice closely follows this year's national consumer protection theme of Financial Literacy.

            Cox noted, "Last year was a record year for the loss or theft of personal data, making it all the more important for individuals to periodically review their credit report." Major incidents in 2007 included:

            In addition to protecting against identity theft, there are numerous other reasons to monitor your report. It is important to make sure your credit report is accurate, complete, and up to date before refinancing, purchasing a house or car, buying insurance, or applying for a job. Negative information can indirectly cost you hundreds, even thousands of dollars.

            Cox cautioned, however, "The 'free' credit report offers advertised are often far from being free of charge. Numerous websites offer 'free' reports or credit scores that are tied to credit monitoring and/or other services. The offers require payment and the consumer is usually unaware that he or she is paying for a service. These offers often consist of trial membership periods that require consumers to cancel within 30 days or they will be charged a monthly fee."

            To help consumers order their truly free report and correct inaccuracies, the Attorney General issued a consumer alert entitled, "Credit Reports, Free Review & Repair." The alert encourages consumers to obtain one free credit report every four months from a different one of the three major credit reporting companies - Equifax, Experian, and TransUnion. The alert also provides information on how to read the report and what to do if there are errors.

            Truly free credit reports can be ordered by calling toll free 877-322-8228, requesting online at www.annualcreditreport.com , or by completing the request form available either through the Attorney General's office or online at www.annualcreditreport.com/cra/requestformfinal.pdf .

            The alert also encourages consumers to eliminate unwanted credit and insurance offers either permanently or for a five year period by calling toll free 888-567-8688 or completing the online form at www.optoutprescreen.com . Either option takes only minutes and can permanently eliminate unwanted credit and insurance offers.

            This and other consumer alerts are available on the Attorney General's website www.michigan.gov/consumeralerts or from the Consumer Protection Division by calling toll-free 1-877-765-8388.

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