Good News Everyone! TransUnion to Pay Up for Credit Score Debacle!

A Grievance Worthy of a Bender Bending Spree!

Good news everyone! It seems TransUnion one of those credit score doohickeys has gotten itself into a bit of a pickle. A $23 million pickle to be exact! Turns out they were a bit slow on the uptake when it came to removing disputed 'hard inquiries' from people's credit reports. Apparently this has been going on since 2016! It's enough to make a scientist like myself say 'Sweet zombie Jesus!' This whole situation reminds me of the time I tried to pay for a Slurm Loco with Schrute Bucks a complete bureaucratic nightmare!

Those Pesky Hard Inquiries: More Than Just a Nuisance!

Now you might be asking 'Professor what's a 'hard inquiry' and why should I care?' Well imagine someone poking around in your brain – only instead of delicious memories they're looking at your financial history. A hard inquiry happens when a lender checks your credit for a loan or credit card. Too many of these can ding your score faster than you can say 'Wernstrom!' And a lower credit score? That can mean no loans higher interest rates and a whole lot of financial doom and gloom. Oh the humanity!

The 502 Letter Fiasco: A Bureaucratic Boondoggle!

According to the lawsuit when consumers disputed these hard inquiries TransUnion sent them these dreaded '502 Letters.' Apparently these letters suggested the consumers contact the inquirers themselves. Honestly that's like telling me to fix a time paradox with a paperclip and a rubber band! TransUnion should have been contacting those third parties and clearing up the mess themselves. It's their job damn it! Now I understand why Bender hates his job so much.

Who Gets the Big Bucks (or at Least a Few Earth Dollars)?

So who gets a slice of this $23 million pie? Well if you disputed a hard inquiry on your TransUnion report and got one of those charming '502 Letters' between December 2016 and January 2025 you might be in luck! You could get at least $20 to $30 just for being inconvenienced. And if you suffered real financial harm – like being denied credit – you might get even more possibly up to $160! That's almost enough to buy a used space scooter!

Claim Time: Don't Miss Your Chance!

If you are happy with the bare minimum $20 $30 payout you don't need to lift a finger. However if you want to claim additional damages you need to fill out a form on the class action settlement website by June 24 2025. And get this payments are expected within 90 days of the final hearing which is on July 21 2025. Although knowing my luck there will be so many appeals and injunctions that it will be like waiting for the universe to end. And remember a similar thing happened with Equifax... 'I don't want to live on this planet anymore!'

A Reminder from Your Favorite Senile Professor

Let this be a lesson everyone! Keep an eye on your credit reports dispute any errors and don't let those credit bureaus push you around. They will be shooting themselves in the foot...with a railgun! And if you ever need any help understanding this complicated stuff just remember my motto: 'When will I learn? The answer is: never.' Now if you'll excuse me I need to go invent a self folding laundry basket. To infinity... and beyond. Wait wrong catchphrase. D'oh!