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					The Big Three Credit Bureaus

There are three major credit bureaus, often referred to as consumer reporting
agencies. They include Equifax, Trans Union, and Experian, and each company
allows creditors to report consumer information to their database in exchange for a
fee, and then sells that information to other creditors in exchange for a fee. They are
for profit corporations, who make money from each and every consumer. Do not fall
for the stories that they are out there to help and make sure correct information is
reported on each consumer. They profit insane amount of money by selling your
data to creditors, businesses, and anyone else that will pay them. They DO NOT have
your best interests in mind, as evident by how hard it is to deal with them when a
problem does arise. They ignore requests regularly and routinely break the law, yet
they never seem to suffer any consequences. Unfortunately they seem too concerned
with making money then actually providing any sort of help to consumers. Want to
see what they are reporting about you? Sure, they will show you for a fee. Doesn’t
seem fair, right? In the event that they are reporting incorrect information it is next
to impossible to have them correctly fix it, which is required under the FCRA (Fair
Credit Reporting Act). This was put into place to help consumers and protect them,
but the credit bureaus seldom follow the rules.

Is there anything that can be done if you need to correct information on your credit
reports? What if you have tried but you just get the classic brush off? Your best
option may be letting a professional credit repair company with years of experience
dealing with these credit bureaus handle the task. It is a full time job to get the
results desired, and the time required to dedicate to the task is not something most
people have. Not to mention the numerous rules, regulations and statutes that you
would need to be very familiar with in order to make a dent in the process. The 3
credit bureaus are not easy to work with and it requires a detailed paper trail, notes
and plan of attack. This is best left to a company that has plenty of experience doing
just this. In the end it will produce the best results by doing it the correct way. For
the best possible outcome, use the services of an experienced credit repair company.

				
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posted:10/7/2012
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