On the first day of December 2004, a new era begins for American consumers - a time when all Americans can give their credit records the close attention they deserve. Starting today, consumers in 13 Western states are entitled to a free credit report each year from each of the three major credit reporting agencies (CRAs) - TransUnion, Experian, and Equifax. The rest of the country will follow in a four-phase rollout moving from west to east, according to a timetable set by the U.S. Federal Trade Commission (FTC).

The Current Status of the Bankruptcy Bill On March 10, 2005, the Senate voted 74-25 in favor of a bill designed to reform bankruptcy. On April 14, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 passed the House 302-126. The bill is now making its way to The White House, where President Bush is expected to sign it into law. It is expected to take full effect soon thereafter. While the merits of the bill have been and will continue to be debated, its effects are clear. Consumers who would have filed for debt relief in a Chapter 7 bankruptcy in the past will now have a much more difficult time doing so. Essentially, if your income is greater than the state median income, your motion to file Chapter 7 will be dismissed and you will be placed in a Chapter 13 repayment plan of five years. The new bill will result in more people having to file Chapter 13 bankruptcies, as opposed to Chapter 7.

Did you know that you are entitled to a free credit report from Equifax, Experian, and TransUnion once every 12 months? Under the Fair and Accurate Credit Transactions (FACT) Act, the three national credit bureaus are required to provide this free service. In this article, Credit.com's experts show you how to order your free credit reports, reveal hidden tricks to make the ordering process go smoothly and give ideas on how to make the best use of this free service.

TITLE 15. Commerce and Trade CHAPTER 41. Consumer Credit Protection

You just gave a telemarketer your credit card number. Or you owe a bank money for your new car or family home. Maybe you are falling a bit behind on your payments, or maybe someone else claims you are falling behind - but you're not. You may be receiving phone calls from the bank, credit card company or collection agency. Sound familiar? No fun, is it? There are things you can do to make sure you are a bit more in control of those pesky debt collectors. Read our summary of the Fair Debt Collection Practices Act, passed by Congress to protect consumers like you from illegal debt collection activities today.

State-by-State Payday Loan Summary

It seems like payday loan offers are everywhere these days. From the local strip mall to the internet, the payday lending industry is booming. But what is a payday loan? Is it as bad as some people say? Credit.com gives you straight answers about payday loans

ChoicePoint became a household name in 2005 when a data breach case involving 163,000 consumer records made headlines around the world. Prominent and controversial, ChoicePoint's database of 17 billion public records is used for background checks, insurance applications and tenant screening. Recently, Credit.com had the chance to ask a ChoicePoint insider a few burning questions about the consumer data industry. Read what Matthew Furman, Vice President Corporate Communications for ChoicePoint, had to say about identity theft, data privacy and consumer security issues.

Emergency payday loans are controversial. With annual percentage rates as high as 5,000%, payday loans can seem like a terrible deal. In this article, our credit experts compare the costs of some alternatives and explain when using a payday loan may actually a good idea. Before we get started, you may want to read up about how payday loans really work. Credit.com's article "The Truth about Payday Loans" explains all the details.

With all the talk in Congress over possible new credit card rules and regulations, you may not be aware that some credit laws have been around since the 1970's and give you some serious credit clout -- if you know how to use them. Here are the top ways you can exercise your credit rights