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How Do I Correct an Error in a Previously Submitted Metro 2® File?
Errors in credit reporting can happen—but under the Fair Credit Reporting Act (FCRA), furnishers are legally required to correct any inaccuracies promptly and accurately. Whether the issue involves a misreported balance, wrong delinquency code, or even consumer identity, furnishers must take specific actions to resolve and resubmit corrected data using the Metro 2® format. Why…
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How Do I Report Accounts Affected by Natural Disasters?
Natural disasters such as hurricanes, floods, wildfires, and other major events can have a significant impact on consumers’ ability to meet their financial obligations. Recognizing this, credit reporting guidance—including Metro 2® standards—provides a clear process for flagging these accounts in a way that is both fair to the consumer and compliant with the FCRA. Why…
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What Is the Difference Between the Account Status and the Payment Rating?
In credit reporting, Account Status and Payment Rating are often misunderstood or used interchangeably—but they serve distinct purposes in how consumer tradelines are interpreted by credit reporting agencies, lenders, and scoring models. Ensuring that these two fields are reported correctly is critical for accurate credit evaluations and FCRA compliance. What Is the “Account Status”? The…
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