"Report Your Tenant to the Credit Bureaus" The Landlord Protection
Agency (2005) http://www.thelpa.com/lpa/credit-rptingdescr.html offers
a service like what you are looking for at similar pricing.
"Credit Bureau Reporting" OldDebts.com (2005)
http://www.olddebts.com/home2/CreditBureauReporting.html offers credit
Bureau reporting for a $3 fee in addition to its "Collection Letter
Packages" (2005) http://www.olddebts.com/home2/LowFlatFee.html. A
single letter starts at $6.95.
"Recover Lost Rents" YouCheckCredit.com (2005)
http://www.youcheckcredit.com/debt_faq.html#2 and "FAQs" Tenant
Verification Services Inc. (2005)
http://www.tenantverification.com/tvs-faqs.php#q15 also allow
landlords to report delinquent tenants, but they do not disclose their
prices for their services.
The vast majority of collection agencies offer credit bureau
notification as one of their services.
However, you may just be able to deal directly with the credit
bureaus. The following reference suggests that small businesses can
become members and report delinquent accounts:
"To report a customer or business that's not paying, you first need to
be a member of the proper credit agency. For a small fee, you can
report delinquent accounts and gain access to credit reports.
Equifax, Experian and TransUnion handle reports for individuals, while
Dun & Bradstreet handles reports for businesses."
"Reporting a Delinquent Account to a Credit Bureau" AllBusiness (2005)
http://www.allbusiness.com/articles/FinanceAccounting/1361-32-1780.html
Sincerely,
Wonko
Search Terms: "credit bureau" reporting delinquent |
Request for Answer Clarification by
cleitner-ga
on
09 Jun 2005 10:18 PDT
The site has the ability to report any type of debt not just rental
history. For example a private mortgage, a loan, a credit card, etc.
I need to report people that have private mortgages. I found the site
that I am looking for several times about six months ago searching
google. At that time I did not need there services.
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Clarification of Answer by
wonko-ga
on
09 Jun 2005 12:39 PDT
OldDebts.com, the second reference I provided you, looks like it will
let you report any debt, and they will keep the credit bureaus updated
with the status of your debtors as you provide information:
"Credit Bureau Reporting
As an option with each letter package, you can report each debtor to
the three major credit bureaus, Equifax, Experian and TransUnion. We
will monitor the information you provide to us on the debtor and
continually update the bureaus. Additionally, in the event the debtor
files a dispute, inquiry or request for payoff through the bureaus we
will handle it appropriately."
http://www.olddebts.com/features/index.html
I have not been able to identify any other firms resembling what you
described. Any ideas what keywords you used to locate them? Possibly
they have gone out of business.
Sincerely,
Wonko
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Request for Answer Clarification by
cleitner-ga
on
09 Jun 2005 14:15 PDT
I also need to report positive or ontime payments. I called Old Debts
and they said they dont do this because they are a collection agency.
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Clarification of Answer by
wonko-ga
on
10 Jun 2005 14:12 PDT
I have conducted an extensive search, and I have not been able to
locate any web-based means other than collection agencies for getting
around the reporting minimums. However, they are not nearly as high
as you indicated. By using a third-party processor, some will take
reports on fewer than 100 accounts/month. Since you report every
account every month, you may be able to meet the minimums of at least
one credit bureau.
"Credit Bureau Contracts and Reporting Minimums" The Service Bureau
(2005) http://www.servbur.com/metro2-credit-reporting-software.html#creditBureauContract
Here is another third-party processor:
"Credit Bureau Contacts and Minimum Reporting Requirements" Hutchins
Systems (2004) http://www.credittime2000.com/features.asp#contacts
This product claims it can get around reporting minimums, but the
software is almost $4,000.
"Trakker" http://www.thetrakker.com/credit/credit_bureau.html
The minimums were put in place fairly recently (October 1 or December
1, 2004, depending upon the credit bureau), which may have prevented
the company you located in the past from continuing to offer such
services. Note that according to this article, TransUnion does not
impose minimums if a minimum amount of product is purchased each year.
"New Electronic Reporting Requirements Create Challenges for Data
Furnishers" ACA International (May 27, 2004)
http://www.acainternational.org/?cid=3194
Furthermore, please note that a least one source indicates that some
web sites that offer the services you are seeking are not necessarily
useful for helping a debtor's credit report even when positive
information is being reported. I have not been able to locate any of
these types of web sites.
"I?d like to clear up one of the common misunderstanding regarding
positive reporting on tenants. There are some websites that offer
monthly reporting for positive and negative information on your
tenants credit reports, that I think are fine if your tenant is behind
in the rent. Those are called collection accounts. The
misunderstanding is that this will help your tenant improve his
credit. They allow you to report ?on time? & current rent payments,
which is meant to be positive for your tenant, but it may actually be
detrimental to his credit report. Why is this? Because these accounts
collection accounts and may show up on the credit report as ?in
collection?. "
"Reporting Positive Information" The Landlord Protection Agency"
(2005) http://www.thelpa.com/lpa/credit-reporting-positive.html
Sincerely,
Wonko
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