Who are the Credit Bureaus and what do they do?
The three major credit reporting agencies are Equifax, Experian and Trans Union. These agencies are for profit companies owned by their shareholders, not to be confused with government agencies as commonly thought. Usually, these three agencies do not share information with each other and that is the reason for disputing three separate disputes, one with each agency.

Credit bureaus collect and collate data from data furnishers such as banks, collection agencies, courts, etc. that a consumer may have a business relationship with. Data furnishers report to the credit bureaus. That information results in what makes up the trade lines of your credit report.

The credit bureaus are regulated by the Federal Trade Commission .Fortunately, by law, credit agencies must prove the accuracy of any negative items within 30 days of receiving your dispute. If they can't, they must erase the negative item.