MLSvideo.com May 30, 2008
  News and Articles
 

MLSvideo.com
Newsletter

Albert 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,
Albert Franz
MLSvideo.com
Designated Broker


You received this newsletter since you are subscribed to the MLSvideo.com Newsletter.
You can easily unsubscribe from future newsletters at http://mlsvideo.com.

Copyright © 2008 MLSvideo.com. All Rights Reserved.