Who are they?
Although there are many data reporting agencies out there, the three biggest credit bureaus
are:
What do they do?
The credit bureaus are data reporting agencies, required to maintain accurate and compliant
credit records for consumers nationwide. These agencies collect data from thousands of sources;
however they also sell data to thousands of businesses nationwide. These credit bureaus are
required to properly process and report consumer information.
Are they governed by law?
Yes they are. The Fair
Credit Reporting Act (FCRA) [PDF] is the federal law that governs how credit information is
collected, distributed, reported, and corrected. Every business associated with credit is required
to operate within the guidelines of The FCRA. Our credit repair process is compliant.
Us vs. the credit bureaus?
The credit bureaus do not intend on fixing your credit reports. We are here to help you
EFFECTIVELY dispute your credit reports. Our credit repair process helps purify your credit
rating by eliminating errors. Having an accurate credit report remains crucial in a society
dominated by banks.
Historic Event
In 2000, Equifax, Experian, and Trans Union paid $2.5 million to settle charges that they
violated the FCRA. The bureaus were accused of blocking calls from over a million consumers who
wanted to discuss the information and possible errors in their credit reports.