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….
Category: Rental Payments
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…
How Should Accounts That Have Been Sold to Another Company Be Reported When the Purchaser Will Convert the Seller’s Previous Account History to Their System?
When a creditor sells an account to another entity, and the purchasing company intends to convert and report the prior account history, it…
How Should an Account Be Reported When the Consumer Files for Bankruptcy but the Account Is Not Included?
When a consumer files for bankruptcy, not all accounts may be included in the bankruptcy discharge or repayment plan. Some accounts may remain…
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