How To Report To Credit Bureaus?

Kristina

I did a search and only found about 3 unrelated topics.

So, I'm wondering, how do you do it?

The people across the street continue to live high on the hog while we are fighting off the people we owe for doing her job. Not cool.

We put a call into our attorney who told us a month ago he was "going forward with foreclosure" on them but then said he is now waiting for an answer from their attorney. Well, how freakin' long do you plan to wait? Don't worry, we are posing the question to him.

In the meantime, we'd like to screw up their credit if we can. He's high security clearance in the ANG and could very well get screwed if his credit reports that he is over 90 days past due. We hope that this will "encourage" them to pay.

Any resources for this would be appreciated. All I can find on google search is how to get your credit report. Not helpful.

TIA!

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joasis

Businesses pay a fee to "join" the credit reporting system. Your local banker or car dealer can give you a number to get hooked up. However, it costs money, and has its own pitfalls.....

Mike Finley

You can't do it yourself, you need to have a collection agency do it for you.

slickshift

Introducing the Stanley Extreme Collections Department ($40 Street Price):

Much more satisfying then reporting to a credit bureau

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Melissa

Good question Kristina. I wonder how much collection a collection agency charges and if it really works to put a dink on their credit.

On the other hand, we have a tile/granite company that says we owe them a bunch of money that is not true, and I wouldn't want just anybody to be able to mess up your credit because they say so, you know?

Mike Finley

One of the current hottest consumer issues being debated and talked about right now is how easy it is for a business to ding a consumers credit through a collection agency. The biggest issue is how the burden of proof falls too heavily on the consumer to prove his/her innocence, and how one sided it is that a business can simply have a collection agency file against a consumer with little to no verifications or research by the credit agencies to the validity of the claim.

In short - contact a collection agency and interview them about their policies and specifically about how effective they are about filing against a consumer with the three credit agencies. Find one who is agressive in that regard and it's a done deal.

(By the way I never said any of the above. You can't prove a thing.)

Grumpy

You have to be a member of the credit bureau to report to the credit bureau, which means a monthly subscription. Cheaper and easier is probably to hire an outside collections agency, who has reporting power.

Collection agencies will charge anywhere from 3% to 50%. Some assume your recievables and pay you even if they don't get paid, these are the ones that pay only 50%. Some will take a percentage for their time and troubles, which you pay to them even if they don't collect. I get letters from time to time in the mail from various collection agencies which have been placed into a folder which I hope I never have to open.

A Lien is your best bet. Sounds like you have already done that. That screws up their credit plenty.

POOLMANinCT

http://www.olddebts.com/