What Happens When an Account Is Reported as “Closed by Credit Grantor”?
When an account is reported as “Closed by Credit Grantor,” it means that the lender, not the consumer, initiated the closure of the…
Category: Payment Behaviors
How Should Late Payments Be Reported, and How Long Do They Stay on a Credit Report?
Late payments are one of the most common negative items on credit reports, and they can significantly impact a consumer’s credit score and…
How Should a Credit Line Increase or Decrease Be Reported?
A credit line increase or decrease occurs when a lender adjusts the total available credit on a revolving account, such as a credit…
What Are the Proper Reporting Procedures for Accounts Transferred to Another Lender?
When a lender transfers an account to another financial institution, it is crucial to report the transaction accurately to avoid errors on a…
How Should Accounts with a Co-Signer Be Reported?
A co-signed account is one in which two parties share legal responsibility for a debt. The primary borrower is the person responsible for…
How Should a Consumer’s Credit Report Be Updated After a Dispute Resolution?
When a consumer disputes an item on their credit report, the furnisher (lender or data provider) is required to investigate the claim. If…
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