Watch out for free credit report offers

While current law (Fair Credit Reporting Act) requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months, according to the Federal Trade Commission, dozens of crooks are offering so-called "free" credit reports, which are essentially schemes to sell you other services for a big fee. Several of these companies are under investigation or have settled with the FTC.

It is extremely important to read your credit reports regularly and you are entitled to get a free copy each year. So simply ignore any advertiser who wants to send you a report "Free." The way to get a copy that is allowed by law is to follow the instructions on the FTC website.