The three major credit bureaus TransUnion, Experian, and Equifax are required by federal law to provide you with a free annual credit report. You have the option of getting all the three credit reports at the same time, or you may also order them individually as per your need. If you choose to order all three reports at the same time, you have the opportunity to compare them all and verify information. Be aware that, if you order all three at the same time, you may not order your free reports again for a full calendar year.
Those choosing to order the free reports in a staggered manner will be able to track and verify new information like accounts and loans being added to the reports. Once you receive your credit report, look out for these details:
Personal information
Check if your social security number, birthday, employment address and status etc are correct.
Inquiries
This lists everybody who has reviewed your credit report in the past two years. Check for its accuracy. A credit check by a lender or a landlord is called Hard Inquiry, this also shows up on your credit report.
Credit information
See whether details about bank and credit accounts, credit limits, loans, balances and credit history are correctly mentioned.
Public records
Collection agency action, bankruptcies, foreclosures and lawsuit details are mentioned.
Account history
The bureau would have mentioned your payment history, the status of all real estate, installment and revolving credit accounts.
If any of the information is incorrect, as a borrower, you may reach out to the credit reporting company or the concerned business. In case of any discrepancies, provide the credit bureau with a written statement pertaining to the information under dispute. The bureau then opens an investigation with the particular creditor and upon completion of the same, a report of the outcome along with an updated copy of your report is provided. In case the dispute is found to be favorable to you, the creditor provides updated information to all three credit bureaus.
Ordering your free credit report also allows you to identify if you have been a victim of identity theft. In that unfortunate case, file a police complaint.
If your request for a free credit report is denied, contact the credit reporting agency (CRA). Often times, they require a missing information from you or rectification for an incorrect one on your application to provide you with a free credit report.
Getting your free credit report and knowing your score, is the first step towards building a good financial health.
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Few tax benefits you didn’t know existed
Read moreWhile we all are worried about filing the tax returns with the best possible audits, most of us are also taking a closer look at the tax benefits and deductions. Tax deductions are important for taxpayers as these amounts can be directly deducted from the gross income. Right from getting the best investments to saving the receipts of health insurance premiums, smallest of these expenses can save you a lot more during your tax filing. Let us take a look at some of the tax deductions or benefits that you did not know that existed.
Health insurance premiums
Medical expenses can cost you a fortune and therefore, there are provisions that help in saving tax with the health insurance premiums. The taxpayer needs to itemize the medical expenses and mention the same during the tax auditing. In order to benefit from the health insurance premiums, the deductible medical expenses should be more than 7.5% of the gross income. If in case the taxpayer is self-employed and has paid for his or her medical expenses themselves, then the complete premium paid can be considered for claiming the tax benefit. The amount so deducted is considered from the gross income and not as an exclusion under itemization.Sales taxes
Sales tax can also be deducted from the federal income tax. This provision can be a big money saver in the states that do not have arrangements for their own income tax. If you are claiming your tax benefit under the sales tax, then the item needs to be mentioned under claim deduction. One can refer to the official website of IRS to know more about the savings on big purchases and tax benefits under the sales tax.Charitable gifts
These gifts make for a great money saving option under the federal income tax. It is useful to save the receipts and itemize them once the tax audit takes place. For instance, if you are baking cakes and using the funds to pay for a charitable organization, the cost of ingredients can be used as tax deductions.Investments
Investments are one of the core benefits of tax refunds. Some of the tax deductions under investments include individual retirement agreements, capital losses, the sale of a home, etc.Other tax benefits are:
- Cost of the babysitter
- Lifetime learning credit
- Unusual business expenses
- Self-employed social security
So, if you are looking for more information on tax benefits and deductions, visit the official website of IRS for a detailed list.
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4 simple yoga poses to tighten your neck skin naturally
Read moreNot many consider their face and neck as target areas while exercising unless their loose neck skin starts interfering with their youthful appearance. If you are looking for ways that can help you tighten neck skin, here are some effective yoga poses that you can try.
Yoga pose 1
You can start with a pouting stretch, as it helps tighten neck skin. To do this, you need to stick out your lower lip until it forms a pout. Then lower your jaw while keeping your face still, and your lower lip stuck out. Try to hold the pose for a few seconds and repeat the same it about ten times.Yoga pose 2
While doing this yoga pose, you need to keep your head level with the floor and lips closed and relaxed. Then you need to drop your jaw and push your lower jaw forward. Try to maintain this pose for a count of 10 breaths and repeat it at least five times. With this yoga pose, you can tighten neck skin quickly.Yoga pose 3
This is indeed one of the best yoga poses when it comes to firming the neck skin. For this move, you simply need to tilt your head back. Take your head back to a position so that you can look up at the ceiling comfortably. Hold the pose while keeping your lips closed and do a chewing movement. While holding the pose, you will be able to feel your neck and throat muscles tightening. Keep your head tilted for about 20 breaths and then bring it forward for a few deep breaths. Perform this yoga pose every day for about ten times.Yoga pose 4
This yoga pose also requires you to tilt your head back and keep your lips closed. However, in this yoga pose, you need to bring your lips in a kissing position while keeping them closed and continuing to look up at the ceiling. Repeat this pose five times to tighten neck skin.