MADISON (WKOW) -- The new year is a good time to get your finances in order, and that includes making sure your credit report is up-to-date and accurate.
Daryll Lund, the president and CEO of Community Bankers of Wisconsin, says a credit report is a record of your credit history, generally in the last seven years. He said it includes your identity, your existing credit, your public record, and any inquiries about you.
According to Lund, only about 40 percent of adults obtain copies of their credit reports annually, but he says reviewing your credit report periodically is important.
"You have to take personal responsibility for your finances, to make sure that the credit reports have the accurate information on loans outstanding, balances, and things like that," Lund said.
Lund also said monitoring your credit report is the single best way to spot signs of identity theft, such as errors and suspicious activity and accounts or addresses you don't recognize.
According to Lund said there is only one legitimate source for a free credit report. You can click here to go to the website or call 877-322-8228.
Lund said other websites claim to offer free reports, but there may be hefty fees involved.
UW Extension also has a "Check Your Free Credit Report Campaign" three times per year. Visit the UW Extension website for more information.
Lund joined us on 27 News at 5 on Tuesday.
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