TransUnion Credit Bureau is one of the big three bureaus. They keep a record from all your lenders about your accounts.
They will record any late payments, missed payments, balance, and all other pertinent information. The lenders send this information to the bureaus.
This data is shown on your report. Future creditors and employers can look at these reports.
They were founded in 1968. But, back then they were known as Union Tank Car Company, a rail car leasing operation.
That company started TransUnion as its parent holding company. During the next 30 years they grew into one of the world's leading business intelligence providers maintaining one of the largest collections of consumer information.
In 1969, they acquired the Credit Bureau of Cook County, and began to take the shape of the company we know today. Throughout the 1970s and 1980s, they continued to expand.
In 1988, they achieved full coverage in the United States, holding information on every active consumer in the country. Today, their reach extends to 25 countries on five continents.
It is privately operated, which means that it is not publicly traded. Their annual sales are in the billions.
It is a good idea to watch your report. To get yours free you can visit Annual Credit Report.
It is not uncommon for there to be an error on your report. An estimated that 1 in every 4 Americans has an error.
If you have an error you should dispute it with the bureau. You must create a dispute letter and provide the reason why the item is in error.
When the bureau receives your letter and decides it is valid they will investigate. Often, errors are removed regardless of their accuracy.
The hard part is getting the bureau to investigate. This is because they must spend potential profits to investigate a dispute.
They have found it more cost effective to erroneously respond to dispute letters and try to irritate the individual, instead of investigating. The Fair Credit Reporting Act says the bureaus must investigate a dispute.
This is why many consumers who wish to remove questionable items on their report will hire a service to dispute it for them.
If you have a mistake on your report you should file a dispute with the bureau. You can do this yourself with a dispute letter or by hiring a service.
For a free credit consultation call 1-866-246-7311.
Visit us for a free credit repair letter used to dispute bad credit or for information about credit repair services.
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