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…
Category: Rental Payments
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…
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…
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