Credit Bureaus Failing to Right Customer’s Credit Reports


Updated on Thu Dec 13, 2012

In a new study the Consumer Financial Protection Bureau found that credit bureaus often neglect to forward paperwork that consumers — hoping to document errors in their credit reports — sent to them.

Documents that customers sent to the big three credit-reporting firms — Equifax, TransUnion, and Experian — “may not be getting passed on to the data furnishers for them to properly investigate and report back to the credit reporting company,” the study states.

Thus, if consumers resolved their debts and need the debt resolutions reflected on their credit histories, it might not happen even if they send in supporting documentation to the the credit bureaus.

Check out our discussion on four alternate methods to the big three credit bureaus to measure your creditworthiness.


Post a Comment