Most consumers know about the three major credit bureaus – Equifax, Experian, and TransUnion.  However, there are several smaller agencies that collect and sell different types of your information to businesses who make financing decisions.  It is important to become familiar with these small credit agencies so you know when your data might be used in a credit decision.

LexisNexis

LexisNexis collects information such as bankruptcies, foreclosures, civil issues, evictions, inquiries, charge offs and collections.  They provide this information to companies who make decisions about renting, insurance, issuing credit and loans.

CoreLogic

Corelogic is the premier supplier of real estate, mortgage, credit inquires, bankruptcy, evictions, consumer and business data used by companies who make decisions about renting, insurance, issuing credit and mortgage loans.  

SageStream

SageStream provides consumer reports and credit scores to companies such as credit card issuers, retailers, and cellular companies. They also report hard inquires to credit bureaus. 

Innovis

Innovis collects similar information as the big three credit bureaus – Equifax, Experian, and TransUnion.  They provide ID verification data and non-traditional credit information like rent payments and utility bills. 

Clarity Services

Clarity Services is owned by Experian and collects and provides information in subprime lending such as payday loans, installment loans, auto title loans, and check cashing services. 

Advanced Resolution Services (ARS)

ARS collects and provides information to businesses regarding consumers credit inquires, bankruptcy and consumer statements.

It is important to know that these smaller credit reporting agencies are still required to follow the Fair Credit Reporting Act, which means you have the right to view your information on file, request a free copy of your report each year, and dispute any errors that appear on your report. 

Errors are more common than you might think.  A Federal Trade Commission (FTC) study found that 1-in-5 consumers have an error on at least on their credit reports.  If you have items on your credit report that aren’t accurate, entirely fair and fully substantiated, you want to contact American Credit Consulting for a FREE consultation at (888) 588-2409 or on the web at www.americancreditconsulting.com

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