Recent thinking and practice in transitional justice suggest that victims and societies hold indivisible, perhaps even simultaneous, rights to truth, justice and reparations after gross human rights violations. This article analyses the advantages and drawbacks of such holistic approaches to transitional justice, through a case study of Chile's second official truth commission, the 'Valech Commission'. The article illustrates the politics of ongoing contestation about authoritarian era crimes in Latin America, showing how and why the commission was designed to deliver on certain truth-and-reparations obligations towards survivors of past state repression, while attempting to explicitly decouple truth revelations from judicial consequences. It also discusses the implications of associating truth-telling and reparations in a single instance, and in doing so contributes to debates about the potentially contradictory or counterproductive outcomes that may arise from the yoking together of truth, justice and reparations functions in transitional justice policy design.