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What Is the Correct Way to Report Accounts That Have Been Transferred, Sold, or Acquired?
How should data furnishers report accounts that have been transferred, sold, or acquired to ensure accuracy, avoid duplicate tradelines, and comply with FCRA and Metro 2® guidelines? Account transfers, sales, and acquisitions are common in the credit industry, but if not reported correctly, they can lead to duplicate tradelines, consumer confusion, and compliance risks. The…
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What Are the Most Common Reasons for Credit Report Disputes—and How Can They Be Prevented?
Why do consumers frequently dispute items on their credit reports, and what steps can data furnishers take to reduce errors and ensure compliance with FCRA and Metro 2® guidelines? Credit report disputes are a persistent challenge for both consumers and data furnishers. While the Fair Credit Reporting Act (FCRA) guarantees consumers the right to dispute…
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How Should Data Furnishers Handle Accounts Impacted by Natural Disasters or Special Payment Arrangements?
What are the correct procedures for reporting accounts affected by natural disasters, forbearance, or special payment arrangements, and how do FCRA and Metro 2® guidelines ensure compliance and consumer protection? Natural disasters and financial hardships can disrupt consumers’ ability to make regular payments. The Fair Credit Reporting Act (FCRA) and Metro 2® guidelines provide specific…
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