Property owners often face a difficult decision: should they report an eviction? Is going through the reporting process worth the trouble? Especially after they’ve battled to recover unpaid rent and fees? Many landlords opt to avoid contacting the four major credit bureaus. Often, that’s because of time constraints. Sometime, landlords […]
Reporting Utility Payments to the Credit Bureaus – Part Two
December 20, 2018 By Leave a Comment
Reporting Utility Payments Is Better Than a Customer Suffering From a Delinquency Late payments can also ding a credit report, but it doesn’t damage a credit report nearly as much as a collection. Late payments affect credit scores, but how much impact a late payment has on a score depends […]
Reporting Utility Payments to the Credit Bureaus – Part One
December 19, 2018 By Leave a Comment
Utility companies usually don’t report their customers to credit agencies, however, utilities are considered as a form of open credit because customers are billed after a month’s worth of rendered services. Utility companies have the discretion to report their customers to bureaus like credit companies, and they should. There are […]
Reporting Student Loans to the Credit Bureaus: 5 Reasons Why
December 12, 2018 By Leave a Comment
Millions of dollars in student loans are funded every year. As students graduate into the real world, they now have a monthly commitment to pay back those funds. Student-loan companies that service these loans have a huge job ahead of them. For a decade or more, they must encourage borrowers […]
Auto Loan Credit Reporting – Do I Use a Carrot or a Stick? Part Two
November 8, 2018 By Leave a Comment
Choosing the carrot is a common choice for auto loan credit reporting. What happens when the stick or negative reinforcement is the answer? Sometimes, consumers respond to these “stick” tactics as payments become late or missed altogether. Communicating About Interest Rates The initial stick is the realization that interest rates […]