Check your credit report in the new year

The new year is a great time to get all of your personal finances in order. Your first order of business should be to obtain a copy copy of your credit report, which has a record of your credit accounts, credit inquiries and accounts in collections.

Federal law permits you to receive your credit report for free once a year. This strategy will allow you to stay abreast of your financial information and let you know whether you need credit repair.

When you've obtained your credit report, read it carefully and check for errors. If you spot a mistaken item, contact your lender immediately, as it could be a sign of identity theft. The faster you act, the better your chances of preventing further damage to your credit report and score.

Under the Fair Credit Reporting Act, you have the right to dispute any false claims that appear on your credit report. Visiting a credit repair company and talking to a credit repair attorney can help you argue your claims and remove the errors from your report.