All about about Equifax, Experian and TransUnion

A credit bureau is an entity that gathers information about consumers' credit histories. They are nothing more than record keepers paid to store the information. 

The Credit Bureaus are not as concerned as you if the information they have is correct or not. 

Credit bureaus obtain identification and credit information from credit grantors, such as banks, retailers, and collection agencies.

Bureaus obtain monetary-related public record information directly from the court systems.

Depending on the source of your statistics, estimates of credit bureaus errors run as high 90%.

- The Attorney General of New York State has estimated
that credit bureau errors are in at least one-third of
all reports.

- The United States Congress has estimated 
that errors exist in at least one-half of all reports.

- A Consumers Union study found errors in 40% of credit files.

The Charles Givens Organization conducted a study in  which 90% of the credit reports reviewed contained errors.

The LAW is on YOUR side to correct, update, amend your credit report.

Congress passed The Fair Credit Reporting Act (FCRA). This act passed by Congress gives you the consumer, the right to challenge the accuracy, the right to correct, update and amend your credit report any time. 

Federal Laws require that the Credit Bureaus must reinvestigate anything you challenge without a charge.

If the Credit Bureaus are unable to verify your dispute, the law says it must be removed from your file.

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