Who Is The Credit Bureau

Executive Summary about Credit Bureau by : Ije Valent

Many people who don’t know anything about credit have the feeling that the credit bureau is a government agency that works for Uncle Sam to bring down our lives but the real truth is that government agencies are just private companies that that have monopolized the credit industry.

Truth is that these companies are all private companies and are in the business of making money.

How do credit bureaus get their information? Various companies subscribe to the credit bureaus services and therefore send credit history of individuals to the credit bureau. Updates are also sent to the credit bureau by the creditor periodically.

Creditors usually report at different times to different credit bureaus so therefore none matching dates and amounts can be shown on each credit report. The companies the send reports to credit bureaus are namely banks, department stores, mortgage companies, credit card companies etc.

Credit bureaus also get their information from public record from courthouses including bankruptcies, default payments, tax liens etc. Many times the credit bureau adds these records to its files but fail to correct the information if the courthouse updates or clears the records. Here are the 3 major credit bureaus and how to contact them.

If you get error in your credit repair report you can use credit repair kit or do it yourself credit repair kit to remove errors in your report. Credit repair process is time consuming process but you can do it yourself using free do it yourself credit repair kit easily. Free do it yourself credit repair kit follows step-by-step instructions for credit repair.

TransUnion
P.O. Box 390
Springfield, PA 19064
(800) 851-2674

TRW/ Esperian
P.O. Box 949
Allen, TX 75013-0949
(800) 392-1122

Equifax
P.O. Box 105873
Atlanta, GA 30348
(800) 685-1111

The Truth About Credit Bureau Investigations

Executive summary by : Joseph Feross

Credit repair is difficult enough when the credit bureaus follow the Fair Credit Reporting Act guidelines to a tee. The first thing that happens is that the credit bureaus will receive your disputes. You may send a written letter, make a telephone call, or contact their dispute division by going online. No matter how you choose to begin this phase of credit repair, the credit reporting agency will put your dispute in queue to be processed. Next the dispute you have sent for your credit repair will go to one of an army of low-paid employees with little, if any, training in credit investigations. It will not help your credit repair if your information is reduced into these codes.

There is not one code for identity fraud and another code for a debt that has been erroneously attributed to the wrong name. Credit repair is much more involved than that. The credit bureau is required to turn all of your evidence in to the creditor. Your credit repair efforts are slowed down when this occurs.

Related posts:

1. Credit Bureau