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When was the last time you saw a copy of your credit report? Do you know your credit score? Do you even know if it's good or bad?

If you can't answer these questions, you have some homework to do -- especially if you're planning to apply fo

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

r a mortgage loan in the near future.

Here are some step-by-step instructions to help you obtain your credit reports, review them for accuracy, and correct any errors you come across.

Step 1 - Understand how your credit affects you.
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in
>
When you apply for a home mortgage loan (or some other major purchase), you can be sure your credit will go under the microscope. Mortgage lenders will analyze your credit to find out what risk category you fall into.

When your credi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

t score is high, your risk factor is low. In this scenario, you'll have a good chance of qualifying for a loan. But when the opposite is true -- low credit score and high risk factor -- you could have trouble obtaining a loan.

Credit report
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
s are maintained by three credit reporting companies (sometimes called credit bureaus or agencies): Experian, Equifax and TransUnion. Your credit score is based on the information contained in these credit reports. Three agencies, three repo
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro
rts, three credit scores ... all about you!

Step 2 - Request copies of your credit report.
According to the Fair Credit Reporting Act (FCRA), you are entitled to one free credit report per year from each of the credit reporting
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
companies -- Equifax, Experian, and TransUnion. To request your credit reports from all three companies, visit www.AnnualCreditReport.com, or call 1-877-322-8228.

If you request your report online, you should have access to it immediately.
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
f you request your credit report through the toll-free number, it will be processed and mailed to you within 15 days.

Your credit report will not come with a credit score, so you'll need to purchase this separately. You can obtain your cred
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
it score by visiting www.MyFICO.com. This website is owned by Fair Isaac's, the organization that converts your credit reports into credit scores. Here's a quote from Fair Isaac's:

"FICO scores are your credit rating. Most lenders base appr
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
oval on them. You have three FICO scores, one for each credit bureau, and you can only get all three from myFICO."

Step 3 - Review your credit reports for errors.
Examine your credit reports closely for any errors or inaccuracie
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s. Make sure your personal information is correct and up to date. Check for loans or lines of credit that aren't yours, as this could be an indication of credit fraud. Anything at all that seems out of place, write it down for further invest
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
igation.

Step 4 - Start the correction process immediately.
Under the Fair Credit Reporting Act (FCRA), credit reporting companies are responsible for correcting inaccurate or incomplete information in your credit report. So don
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
't hesitate to exercise your rights under this law.

If you only find errors on one report (for example, the one provided by Experian), you only need to contact the company associated with that report. Visit the company's website to find ins
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
tructions on how to begin the correction process. By law, each credit reporting company must publish their correction requirements.

You can find these instructions on each company's website:

* www.experian.com
* www.transunion.com
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
* www.equifax.com

Tell the company in writing what information is inaccurate. File a copy of your initial request, as well as any subsequent communication (such as their response to you). Start a folder and label it with "credit report" to
t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
keep your documents together. Keep the folder secure, as it will obviously contain sensitive information.

Step 5 - Follow up thoroughly.
The credit reporting company will investigate your claim within 30 days of receiving it. B
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
ut why wait? I recommend contacting them after 10 business days, at least to make sure they've received your correction request. Follow up regularly after that. Don't allow your issue to "slip through the cracks."

Step 6 - Continue your
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
education.
If you believe your credit report contains errors, educate yourself on the correction process. This article provides a good overview, but an important issue like credit deserves a more complete education.

Websites worth
.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
a visit:

The FTC's Credit Center:
www.ftc.gov/bcp/conline/edcams/credit/index.html

Credit Advice from the Better Business Bureau:
www.bbb.org/Alerts/article.asp?ID=616

Credit Section of About.com:
www.credit.about.com

Cre
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
dit Learning Center at Home Buying Institute:
http://www.homebuyinginstitute.com/credit.php

* Copyright 2006, Brandon Cornett. You may republish this article if you keep the byline and author's note, and also leave the hyperlink intact

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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