MLSvideo.com
Newsletter
As you are aware, if you read the MLSvideo.com newsletters, federal law entitles everyone
to a free copy of his or her credit report
once a year from each of the three major credit-reporting companies, but
it doesn't provide access to credit scores. Due to a settlement this past Wednesday, of a long-running
class-action lawsuit, by credit reporting giant TransUnion Corp., it will be possible to obtain
your credit score at no charge.
The agreement would entitle consumers to at least six months of a
TransUnion monitoring service, giving them access to the latest
information in their credit reports as well as their current scores at
any time. Under the settlement, anyone who had any type of loan account between
January 1987 and Wednesday would be able to select one of two options:
- A basic service would provide free credit monitoring for six months.
It normally retails for $59.75, according to the settlement. Those who
select this service can also apply for a cash payment.
- An enhanced service would provide nine months of free monitoring, plus
use of a "mortgage simulator" that lets consumers see whether improving
their credit score would affect their mortgage rates and how much they
could save if it did. In addition this option also includes access to
one's insurance score, which is used by some insurers to set rates.
Under the settlement, a credit card number would not be required to sign
up for either service. After the free service ends, TransUnion could not
charge for an extension unless it was requested by the consumer. Claims
can be filed starting June 16 by going to the settlement website
at listclassaction.com or by calling (866) 416-3470.
Sincerely,
MLSvideo.com
Designated Broker
