Consumer data agencies monitoring your information

Consumer data agencies monitoring your information

Amarillo, TX - You might need to worry about more than just a bad credit report when it comes to applying for housing or getting a new job.

There are three main credit reporting agencies out there, but there are also hundreds of other agencies tracking specialized information about you. They are called consumer data agencies.

The Consumer Financial Protection Bureau said these agencies keep tabs on lease violations, utility bill payments, insurance claim records and even the prescription medications you buy. They obtain the information from court files, banks, landlords, collection agencies and companies you have accounts with.

The bureau said the obtained information is legal, but you can dispute the shared information if it is not accurate. "If it is wrong on your credit report, it's very important to file a dispute," said Gail Hillebrand of the Consumer Financial Protection BuBureau,"And you can dispute an error on your credit report both with a credit reporting agency and with the creditor who provided that information."
Under the Fair Credit Reporting Act, the agencies are required to give you a free copy of your consumer report if a negative action is taken against you because of their information.

For a list of some of the agencies collecting data, click here.