I will update this post from time to time with information and news about these three credit reporting agencies.
Suffice it to say, these three credit reporting companies virtually hold your financial, employment, and personal life in their hands.
Just a note: Fair Issac (producer of FICO scores) agreed to modify severe hit on FICO scores if you (a) paid off a debt balance/settled with a collection agency, or (b) had unpaid medical bills that are with a collection agency. The person’s revised FICO score shouldn’t be reduced as much in the future as they have in the past. This should mean relatively higher scores and more credit issued.
Equifax, TransUnion and Experian are being sued by the Attorney General of Mississippi, New York, Ohio, and 31 other states including the Consumer Financial Protection Bureau for errors on individual report and delays in correcting those errors that impact obtaining credit and financing. MDJ, 6-17-2014, 5B
The Fair Credit Reporting Act requires the three nationwide consumer credit report companies, Equifax, Experian, and TransUnion, to provide you with a free copy of your credit report and FICO scores upon request once a year. You can obtain your credit report from https://www.annualcreditreport.com/.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.