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The Three Credit Bureaus


Dealing with the three credit reporting agencies can be very frustrating. Hold times can be long, recordings the norm and speaking with a representative difficult. The credit bureaus prefer to operate by mail. If your report has derogatory or erroneous information, it can take a long time and a lot of work to have it removed.. If you are preparing to invest in a new home, we recommend you start making plans early. If you have issues on your report which need to be resolved prior to a lender granting you a mortgage, do not expect your credit score to fly-up the day you resolve matters. Credit scores adjust slowly, sometimes over several months. Therefore, clarifying your credit profile is one of the first tasks you may want to address.

Equifax, Experian and Trans Union are the three credit bureaus. Each of them have their own scoring systems: Beacon, Fair Issac and Fico respectively. When a lender pulls your credit report, you will have three different scores. The middle score is the number that will be used to evaluate your credit worthiness. If you need to get your score raised to qualify for the mortgage you need, we recommend you contact us as we have affiliates who used to work for the bureaus, know the system and have made careers quickly removing derogatory credit improving scores substantially.

Know your rights under the Fair Credit Reporting Act.

Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
(800) 685-1111

Experian
P.O.Box 2104
Allen, TX 75013-0949
(888) 397-3742

Trans Union Corp.
760 W. Sproul Road
Springfield, PA 19064-0390
(800) 888-4213

 

 

 

 

 

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