Credit reports play a significant role in the compilation of the very crucial credit score .as a means of justifying the process of judgment in terms of who is worthy or not when it comes to matters credit. Since the report has a significant contribution towards the outcome of a report that could have a drastic effect in your financial life, it is only fair that the government decided to make it available to any body whose life the same may affect for free at least once every year. The rules of natural justice dictate that before I accuse you, I should let you know about my grievances so that you prepare yourself for the onslaught. It must be in this spirit that the government deemed t necessary to always have every potential culprit have a look at his/her score board as it adds up slowly by slowly towards the final result in the name of a credit score.
From the above mindset, the government has seen the establishment of the consumer reporting companies to deal solely with the process of compiling and outlining this very crucial statistics for the benefit of the ordinary consumer. Consumer activity constitutes a whole two thirds of all economic activity in the U.S if not the entire world. For these reason, any action that may jeopardize consumer spending should be treated with the seriousness it deserves to ensure that it doesn't get overboard as this would affect a very large part of the economy
Consumer reporting accompanies receive information from different sources though mainly fro people or parties with whom you have some business relationships. Out of this source of information and the nature of collecting the statistics, there is a possibility of getting a biased opinion or an erroneous report from any of the business associates. If the report was to be delivered and then kept confidentially for use by the relevant authority it could be certainly subjected to abuse. Giving the free report therefore plays a very big role I ensuring that the report given about you by a specific person or organization should not be manipulated to serve their own selfish interest. The government is therefore keen to let you know who said what about you so that you can contest any discrepancies or anomalies. This should also see the reported adopt a more factual approach to the situation since he/she must rise to the occasion and defend his/her allegation should it be contentious the details on how to get the government free credit report can be obtained from the annualcreditreport,com free of charge.