Are the Credit Bureaus REALLY Under Fire?

Are the Credit Bureaus REALLY Under Fire?

“Equifax, Experian, and TransUnion are under fire for reporting for reporting inaccurate and obsolete information!”

This meme and caption has been making rounds on social media a lot the past several months.

The warning is usually followed by a call to action for you to get in contact with a credit repair specialist to clean up your credit report.

Are Credit Bureaus Under Fire?

Here’s the truth.

The credit bureaus aren’t under fire, at least not anymore than they normally are.

It is simply a marketing call to action ploy used by credit repair companies and multi-level marketing credit repair companies to advertise their business to concerned customers.

Equifax, Transunion, and Experian are not under fire and even if they were, it has absolutely nothing do with disputing inaccurate information on your credit report. YOU HAVE THE RIGHT to dispute inaccurate information on your credit whether the credit bureaus are under fire, in a blizzard, tornado, hurricane, or tsunami! The credit bureaus are always in trouble for something but it has nothing to do with disputing information on your credit report or assuming that since they are you’d receive faster or better results.

Don’t think of correcting inaccuracies on your credit report as “better time” to dispute it. Your credit reports are to be checked regularly for incorrect information. If you find something that is not reporting right, inform the credit bureaus immediately.

Remember, there is no quick fix to repairing and improving your credit and you don’t have wait until you think the credit bureaus are in some kind of trouble before you start to do something about it.

 

 

 

 

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