Credit Bureaus Information

Credit Bureau Information

Understanding the credit bureaus, who they are and how they work can be found on many websites.

However, for most consumers there are hidden things about the 3 credit bureaus that they don't know.

Knowing these seemingly little facts might just change the way you see them for good.

Below are some information about credit bureaus I

thought would be helpful to you as you learn to

handle your credit.

1) Another name for them is Credit Reporting

Agencies (CRA's)

2) . They Have 3 separate telephone numbers.

3) They have 3 different addresses.

4) Each one maintains a unrelated credit file on

you.

5) Each one requires a different credit dispute,

because you will discover different inaccurate

information in each credit file.

6) They are not a government agency.

7) They are not non-profit.

8) They are for-profit businesses.

9) There are laws that regulate how they handle your credit information.

10) They don't automatically correct errors in your credit files. You have to request an investigation of any information you find that's inaccurate.

11) Consumers are not their main customers.

12) Businesses are their main customers.

13) Businesses pay them a fee to report credit information about you.

14) They are required to comply with a law that law makers put into play to regulate them. That law is called FCRA.

15) Sometimes credit bureaus don't comply with that law unless a consumer request them to do so.

16) They don't automatically check for accuracies on your credit reports.

17) They didn't get your personal information about you from the government.

18) They don't have a credit file on everybody.

19) The individual you talk to on the telephone concerning your credit issues is not your enemy. They do not own the company; nor can they make or altar any rules for your sake.

20) Credit Bureaus can ruin your financial life.

21) They can be sued.

22) They can go broke.

23) They can liquidate their business.

24) They can file for bankruptcy.

Now since you have learned about the all three credit bureaus you can now start learning about the credit reports they keep on you. Click next page to read more