March 9th, 2015 by Jason M. Kaplan, Esq.
The Credit Pros Grow Stronger with New Announcement from the 3 Major Credit Bureaus
Summary: After decades of struggle, consumers can finally be relieved by the news recently announced by the 3 credit-reporting giants, Equifax Information Services LLC, Experian Information Solutions Inc. and TransUnion LLC. For more information on the recent news, visit www.thecreditpros.com.
March 9, 2015
After several talks with the New York State Attorney General Eric Schneiderman, the 3 corporate credit-reporting giants, Equifax Information Services LLC, Experian Information Solutions Inc. and TransUnion LLC, have finally reached common grounds on how to manage disputes more quickly. Although it took the 3 corporate giants and the Attorney General almost a year to come on mutual terms, individuals can finally be relieved by the decision announced by the companies today morning on the 9th of March. The companies, according to the new amendments, will completely change the way they handle errors, especially medical bills. According to the new policy, new professionals will be hired who will manage the errors reported by individuals or companies to ensure that the disputes are managed at the earliest.
The Credit Pros – News as it Happens
Mortgage, loan, and credit card issuers report information related to late payments, default payments, and bankruptcies to the credit-reporting companies. The information is then used to calculate credit scores of the individuals which further help companies in determining the “credit-worthiness” of the people. However, although excited by the recent announcement, individuals can expect the 3 companies to manage decision faster and implement the decision within 6 to 39 months.
To many, it comes as a huge surprise how the 3 corporate giants, which manage the information of more than 200 million Americans, have finally chosen to decentralize the task of handling errors and resolving issues faster. However, this does not mean that the companies will not be involved in researching and analyzing issues themselves. Even if both a creditor and an individual point out an error in the credit report, the trained staff at each of the 3 companies, Equifax Information Services LLC, Experian Information Solutions Inc. and TransUnion LLC, will look into the matter before resolving it.
According to the Wall Street Journal at http://goo.gl/Gh7zXX, “The credit-reporting firms will be required to use trained employees to review the documentation consumers submit when they believe there is an error in their files. If a creditor says its information is correct, an employee at the credit-reporting firm must still look into it and resolve the dispute.”
About the Credit Pros:
The Credit Pros have been repairing America’s credit for over 10 years. The Credit Pros is an Inc. 5000 company and also maintain an accredited A+ rating with the BBB. The Credit Pros consists of a team of credit repair experts who work to force the deletion of erroneous, outdated, and unverifiable items off of consumer credit reports. For more information on the advancement of The Credit Pros and this announcement released by the 3 corporate credit-reporting giants Equifax Information Services LLC, Experian Information Solutions Inc. and TransUnion LLC, visit http://thecreditprosintl.com/.
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