How Should Accounts Included in Bankruptcy Be Reported? A Guide for Data Furnishers
What are the correct procedures for reporting accounts included in bankruptcy, and how do FCRA and Metro 2® guidelines shape these requirements? Reporting…
Category: Rental Payments
How Do I Report an Account That Has Been Settled in Bankruptcy?
When a consumer files for bankruptcy, certain accounts may be either discharged (legally forgiven) or settled through a bankruptcy plan. Reporting these accounts…
How Do I Report a Loan That Has Been Paid in Full Before the Scheduled Maturity Date?
When a borrower pays off a loan in full before its scheduled maturity date, it is considered an early payoff or loan prepayment….
How Do I Report a Charged-Off Account When the Borrower Is Still Making Payments?
When an account is charged off, it means the creditor has deemed the debt unlikely to be collected and has written it off…
How Should the Date of First Delinquency (DOFD) Be Reported, and Why Is It Critical for FCRA Compliance?
What is the correct way to report the Date of First Delinquency (DOFD), and why is this date so important for compliance with…
How Should Accounts That Have Been Sold to Another Company Be Reported When the Purchaser Will Not Convert the Seller’s Previous Account History to Their System?
In cases where a creditor sells an account to another company, and the purchasing entity does not convert or report the prior payment…
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