How Should Alternatives to Foreclosure (e.g., Deed in Lieu and Short Sale) Be Reported?
When a consumer opts for an alternative to foreclosure, such as a Deed in Lieu of Foreclosure or a Short Sale, it is…
Category: Rental Payments
How Should a Disputed Account That Has Been Resolved Be Reported?
Answer: When a consumer disputes an account on their credit report, it triggers an investigation process to verify the accuracy of the information….
When Is It Appropriate to Report an Account with Multiple ECOA Codes?
Answer: Equal Credit Opportunity Act (ECOA) Codes are used to indicate the relationship between a consumer and a credit account. In some cases,…
How Should Accounts That Have Been Transferred Be Reported?
When an account is transferred from one lender to another—often due to the sale of a loan or a change in servicing—it is…
How Should an Account Be Reported When a Consumer Voluntarily Surrenders or Redeems Merchandise in Bankruptcy?
What is the correct way to report an account when a consumer voluntarily surrenders or redeems merchandise during bankruptcy proceedings? Answer: When a…
How Do I Terminate a Consumer’s Association with an Account on a Credit Report?
What are the steps and considerations for terminating a consumer’s association with an account on a credit report? Terminating a consumer’s association with…
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