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Latest Blog & Articles
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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. Once the dispute has been resolved, it is essential to accurately update the credit report to reflect the final status of the account. Properly reporting resolved disputes is a critical part of…
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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, it is necessary to report multiple ECOA Codes for a single account, especially when multiple individuals are involved in that account. Understanding when and how to report accounts with multiple ECOA Codes…
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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 process is often used by consumers facing financial hardship who cannot repay the entire debt. Properly reporting settled debts is crucial to maintain compliance with the Fair Credit Reporting Act (FCRA) and…
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