How Should Accounts That Have Been Transferred Be Reported?
An account is considered transferred when a lender or servicer moves the account—typically a loan—from one institution to another. This may occur due…
Category: Report to Credit Bureaus
How Should Accounts in Forbearance Be Reported?
Forbearance is a temporary arrangement where a lender agrees to reduce or suspend a borrower’s required payments for a set period due to…
How Should Paid in Full, Closed Accounts Be Reported?
When a credit account is paid in full and closed, it marks the successful completion of a borrower’s obligation. Accurate reporting of such…
How Should Mortgage Loan Modifications Be Reported?
A mortgage loan modification is an agreement between a lender and borrower to change the terms of a mortgage, often to make payments…
How Should the Different Stages of Foreclosure Be Reported?
Foreclosure is a complex process involving multiple stages, each of which must be accurately reported to credit bureaus. Proper reporting during foreclosure is…
How Should Settled Debts Be Reported to Credit Bureaus?
Answer: When a consumer settles a debt, they reach an agreement with the creditor to pay less than the full amount owed. This…
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