The 3 Major Credit Bureaus
By Aiden Zamora
Qualified Financial Adviser
The 3 major credit bureaus systems in the United States are Equifax, Experian, and Trans Union. Experian was formerly known as TRW. Credit bureaus gather their consumer credit information by soliciting creditors such as credit card companies, banks, and lenders to join their systems and contribute their credit experience on consumers to the systems. Credit bureaus are generally regulated by the Fair Credit Reporting Act (FCRA), which is the Federal law generally covering credit bureaus and credit reporting in this country.
CRAs do not make decisions regarding a consumer’s creditworthiness. Rather, the CRA compiles reports of what your file contains and passes that along to the potential credit grantor. Under Federal law credit bureaus and credit reporting companies known as CRAs (consumer reporting agencies) have numerous responsibilities to protect consumers and their credit information. Some of us have no business writing about the three major credit bureaus, and some of us have no need for all that is involved in the 3 major credit bureaus. Here’s how to contact the 3 major credit bureaus to ask for your credit report or credit score :
Equifax: 1-800-685-1111 (general) or 1-800-525-6285 (fraud); PO Box 740241, Atlanta, GA 30374; www.equifax.com
Experian: 1-888-397-3742 (general and fraud); PO Box 2002, Allen TX 75013; www.experian.com
TransUnion: 1-800-888-4213 (general) or 1-800-680-7289 (fraud); PO Box 2000, Chester, PA 19022; www.transunion.com
If you need to, use all 3 major credit bureaus, then, for help or support or use one, as each of these three offers a combined, 3-in-1 report.
Once you get your credit reports and you discover that your FICO score is really low you should immediately try and raise this number by disputing the accuracy of the negatives in your reports. But how do you do this? I suggest you take a look at a report written by an attorney called “the attorney´s guide to credit repair” You´ll find sample letters you can use to send off to the bureaus. Take action as soon as you get your reports!
If you are still not convinced that you can erase a bad credit history by yourself then sign up for the 5 part course below. You will find tips that so called expert credit repair companies will charge you over $200.
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