In December 2021, Equifax — one of the “big three” credit bureaus — announced it was creating a new reporting code for “buy now, pay later” (BNPL) loans, also known as “point of sale” loans. In January 2022, Experian introduced its upcoming “Buy Now, Pay Later Bureau,” which is set […]
Big Three Bureaus Announce “Buy Now Pay Later” Credit Reporting Plans
March 22, 2022 By Leave a Comment
How to Report COVID-19 Debt Information to the Credit Bureaus
March 19, 2020 By Leave a Comment
It’s not a matter of if, but when, your customers or tenants will contact you about COVID-19- related financial hardships. How you help them through these tough times is up to you (you’ll find some options in this recent article). No matter what arrangements you make, though, you’ll want to […]
Will the New FICO 10 Scoring System Change How You Review or Report Credit?
February 24, 2020 By Leave a Comment
In late January, Fair Isaac Corporation — the creators of the FICO score — announced they’ll update their scoring model this summer. Called FICO 10, the company’s newest revision will impact an estimated 110 million consumers. But how will this change affect you? First, a FICO primer FICO isn’t just […]
How to Report to the Credit Bureaus
May 14, 2019 By Leave a Comment
There are lots of reasons WHY you should report your customers’ and tenants’ payment data to the major credit bureaus. Reporting credit reduces your risk of late payments, creates a record of both positive and negative payment histories, and helps your organization to maintain a great reputation for fair and […]