Understanding Transunion
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Forum Name: Credit Bureau and Reporting Issues
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URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=5030
Printed Date: 26/March/2026 at 10:30pm
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Topic: Understanding Transunion
Posted By: LostLife
Subject: Understanding Transunion
Date Posted: 04/October/2008 at 2:38am
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I was totally surprised yesterday when I checked my credit report out with Trans union. All 9 of my SL with the Royal Bank are paid and closed? I never paid them, so I don't understand that. Unless it's that they are over 9, 10 and 11 years old. And I thought any after 7 years was removed from the report? I also have another loan called Student Loans, it is listed as "paid as agreed" and it's open, but it has a balance of close to $5000. I wonder if that's the one that is paid off with my tax returns? Then there's the collection agency Nor-don that has another loan that I'm sure is another SL, listed at 26 thous or so. For some reason it's a joint account? Huh? With who? The last date I was in school was in 2001. The loan is listed as opened in 02/06. And the oringal creditor is CMU IFIS. At least things aren't as bad as I thought, there is only a quarter of my loans left outstanding. That doesn't seem so bad, considering my situation, I thought the amount was too high and hopeless, I may seek a credit counselor and try to make some arrangements for consolidation and finally be free of this and move on debt free. Any thoughts would be appreciated. |
Replies:
Posted By: LostLife
Date Posted: 14/October/2008 at 6:33am
| I found out, in case this happens to anyone else...that the Bank loans are guaranteed by the government, so if they aren't paid, the government pays the banks, hence the paid and closed accounts. The government apparently doesn't always report ALL parts of your loans. So there are more loans floating around out there...lol. Gotta go track them down and declare bankruptcy. |
Posted By: SolveStudentDebt
Date Posted: 16/October/2008 at 7:15am
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Make sure there is water in the pool before you
dive in head first.
------------- Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com |
Posted By: qwe
Date Posted: 03/January/2009 at 3:29am
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I know that we all have issues with Trans Union and Equifax but one thing to always remember is that not everybody reports or gets reports from the same agency. Of course the bigger the business the better chance that they have requested info from 2 or more agencies. But it is not guaranteed that they have. See note #3 on the front page of the mailed report, also check on the website for all the info about what May or may not be in the credit report. They can only report what they know. If someone has not given them the info they don`t know. I have used both Trans Union and Equifax and I can read the Trans Union report much easier plus they at least tell you about the existence of the other agencies. I like to have a second opinion. I have always used the free way(the only cost to you is the letter, stamp & copies of info that they use to identify you). I have not had any problems with them but remember that if we are a socieity built on credit, this is a necessary expense that we pay for with higher prices. If there is a problem we pay with our time to fix it and that can be more expensive |
Posted By: audrey123
Date Posted: 28/August/2009 at 4:22pm
Glad I found this thread today. - - free transunion credit report[/color - thank you so much for your sharing. |
Posted By: SolveStudentDebt
Date Posted: 09/September/2009 at 2:37am
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Trans Union language is pretty straight forward. Equifax lightened up on the coding that confuused a lot of people in the 90's. I did a write up in 2004 or something like that here on the interpretation of credit remarks and code. It is in the history here somewhere. ------------- Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com |
Posted By: J. Gene
Date Posted: 07/December/2009 at 3:41pm
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Check the bottom of this page for the codes referred to in the last post: http://www.canadastudentdebt.ca/forum_posts.asp?TID=1752 - http://www.canadastudentdebt.ca/forum_posts.asp?TID=1752 Very helpful information, indeed. |
Posted By: honestroger
Date Posted: 12/January/2010 at 5:54pm
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In my experience TransUnion is far more efficient than Equifax when it comes to corrections/disputes and I agree with Johnny that TransUnion is more straight forward. By way of example: I had a an OSL with a date of first delinquincy of 2001.
It appears to have went through a couple of CA's and ended up with CBV in 2005.
I paid it in 2009.
My TU profile reported the OSL as a collection with a date of first delinquincy of 2005; paid in 2009. So did Equfax (i.e. date of last payment).
I disputed the CBV date of 2005 and provided both credit bureaus copies of old letters from 2001 indicating my loan payment was overdue, the default letter, and a 2002 letter from a different CA that had the account before CBV.
In essence my contention was that CBV improperly shunted the operative date forward thereby causing the credit bureaus to report the collection account beyond the applicable reporting period.
I did this on January 5, 2010.
It has been removed from my TransUnion report already.
Yet it remains on Equifax.
If history is any indication, I anticipate having to go another round or two with Equifax before they remove the entry.
Obtaining a swift resolution of a disputed item with credit bureaus can be a thoroughly frustrating excercise. Be persistent, utilize good draftsmanship, and substantiate your contentions where possible.
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