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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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