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…
Category: Rental Payments
How Should an Account Be Reported When It Is Updated Multiple Times During a Given Monthly Reporting Period?
Updating an account multiple times during a monthly reporting period requires careful management to ensure that credit reporting remains accurate, complete, and compliant…
How Should Alternatives to Foreclosure (e.g., Deed in Lieu and Short Sale) Be Reported?
When a consumer opts for an alternative to foreclosure, such as a Deed in Lieu of Foreclosure or a Short Sale, it is…
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….
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,…
How Should Accounts That Have Been Transferred Be Reported?
When an account is transferred from one lender to another—often due to the sale of a loan or a change in servicing—it is…
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