How Should I Report an Account with Zero Balance and No Activity for Months?
Question: What is the appropriate method for reporting an account that has a zero balance and has shown no activity for an extended…
Category: Payment Behaviors
How Do I Report a Charged-Off Account That Has Been Paid?
Question: What is the correct procedure for reporting a charged-off account that has been subsequently paid by the consumer, and how does this…
How Do I Report an Account That Has Been Transferred to Another Lender?
Question: What are the correct procedures for reporting an account that has been transferred to another lender, and how does this ensure compliance…
How Should Deferred Accounts Be Reported?
A deferred account is one where payments have been officially postponed under the terms of the loan agreement, often due to school enrollment,…
What Are the Available Options for Reporting an Account That Has Regular Payments Temporarily Postponed?
When a lender agrees to temporarily postpone a consumer’s regular payments, whether due to hardship, disaster, or a payment assistance program, the account…
How Should Prepaid Credit Cards and Gift Cards Be Reported?
Prepaid credit cards and gift cards are not considered traditional lines of credit and, in most cases, should not be reported to consumer…
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