Interesting Facts about TransUnion

Trans Union got its start back in 1968 as a holding company created by Union Tank Car Company. The following year, in 1969, Trans Union purchased Credit Bureau of Cook County (CBCC), entering into the credit business. In subsequent years, TU continued to purchase major cities’ credit bureaus and exclusive rights with many of th ..

Interesting Experian History

Experian was formerly a division of TRW, an automotive electronics giant. TRW was originally founded in 1901 as the Cleveland Cap Screw Company. They started producing screws and bolts and grew to produce many parts for the aviation and automobile industry. In the early 1960s, TRW started a consumer credit information bureau, collec ..

Interesting Equifax History

Equifax is the oldest and largest credit bureau in existence today. They were originally founded in 1898, 70 years before the creation of Trans Union. Two brothers, Cator and Guy Woolford, created the company. Cator actually got the idea from his grocery business, where they collected customers’ names and evidence of credit wort ..

Inquiries Effect on Credit Scoring

Many people have heard before that inquiries lower the score. As a result many customers will ask you whether this is true or just a myth. Inquiries definitely impact the consumer credit score. FICO score inquiries account for 10% of the total credit score. FICO counts this to the part of their score that deals with the accumulatio ..

Information Dispute Requests

Information requests is a credit repair tactic where you ask the credit bureaus or the creditor for broad amounts of information. Rather than mess around with locating all the information, the bureaus or the creditor may just remove the item, because they do not want to take the time to provide the requested documentation. When you sa ..

Improvement Based on Deletions

When you help consumers repair their credit you will usually measure success based on how many inaccurate or unverifiable accounts you help them delete from their credit report. Even though you might measure success based on deletions, most consumers will look strictly at their credit scores to determine your success. This means if t ..

How to read a credit report

Credit reports are not always easy to read. The truth is, the credit bureaus want it that way. The less the average consumer understands, the more likely they will not spot or complain about any errors. ..

How to Insure Your Business is in Full Compliance - or Risk being Shut Down

Running a compliant credit improvement company is essential for your long-term success. You and your team must insure you meet and exceed all state and Federal requirements for credit companies. ..

How to Have the Credit Bureaus Pay You!

Many of the credit bureaus have affiliate programs where they will pay you a commission on your credit monitoring referrals. Most are tiered-based which means the more clients you send them the more money you make. Equifax, TransUnion, and MyFico all offer affiliate programs. Visit their web site and locate the link (usually on the ..

How to Handle Charge-offs

A charge-off is an accounting term used for when a creditor writes off or charges-off a debt that they are unable to collect on. Creditors typically charge-off a debt if there is no payment on the account for more than 180 days. A charge-off is an accounting procedure for tax purposes, used by the creditor, where an uncollected debt o ..

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