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Sunday, February 15, 2009
TransUnion Credit Bureau is one of the big three credit 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 information is what is shown on your credit report. Future lenders and employers can look at this.
They were founded in 1968. But, back then they were known as Union Tank Car Company, a rail car leasing operation.
That company made TransUnion its parent holding company. Over the next 30 years they became one of the world's leading company intelligence providers maintaining one of the largest collections of consumer information.
In 1969, they acquired the Credit Bureau of Cook County, and started the company we know today. Throughout the 1970s and 1980s, they continued to expand.
In 1988, they gained 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 held, meaning that it is not publicly traded. Their annual sales are in the billions.
It is a good idea to check your credit report. Get yours free, just visit Annual Credit Report.
It is not uncommon for there to be an error on your credit 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 credit bureau receives your letter and decides it is valid they will investigate. Often, errors are removed regardless of their accuracy.
The difficult part is getting the bureau to investigate. This is because they must spend potential profits to investigate a dispute.
creditors have found it more cost effective to improperly respond to dispute letters and try to frustrate the individual, rather than investigating. The Fair Credit Reporting Act says the bureaus have to investigate disputes.
This is why many consumers who wish to remove questionable items on their report will hire a service to dispute it for them.
In sum if you have a problem with your report you should file a dispute with the credit bureau. You can do this with a letter or hire a service to handle it.
They will record any late payments, missed payments, balance, and all other pertinent information. The lenders send this information to the bureaus.
This information is what is shown on your credit report. Future lenders and employers can look at this.
They were founded in 1968. But, back then they were known as Union Tank Car Company, a rail car leasing operation.
That company made TransUnion its parent holding company. Over the next 30 years they became one of the world's leading company intelligence providers maintaining one of the largest collections of consumer information.
In 1969, they acquired the Credit Bureau of Cook County, and started the company we know today. Throughout the 1970s and 1980s, they continued to expand.
In 1988, they gained 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 held, meaning that it is not publicly traded. Their annual sales are in the billions.
It is a good idea to check your credit report. Get yours free, just visit Annual Credit Report.
It is not uncommon for there to be an error on your credit 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 credit bureau receives your letter and decides it is valid they will investigate. Often, errors are removed regardless of their accuracy.
The difficult part is getting the bureau to investigate. This is because they must spend potential profits to investigate a dispute.
creditors have found it more cost effective to improperly respond to dispute letters and try to frustrate the individual, rather than investigating. The Fair Credit Reporting Act says the bureaus have to investigate disputes.
This is why many consumers who wish to remove questionable items on their report will hire a service to dispute it for them.
In sum if you have a problem with your report you should file a dispute with the credit bureau. You can do this with a letter or hire a service to handle it.
About the Author:
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posted by Credit Counseling at
5:01 AM
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