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HomeCredit ForumCredit repair

Who can report on your credit?

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nikkia
Guest
Subject: Who can report on your credit?
 
 Posted on Tue Sep 09, 2008 11:35 pm  
Who can report on your credit? Ok, someone is selling me their house owner finance can they report or just real businesses? I want them to report the good credit....is that possible?

nikkia
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3137



5334 Magic Points
 
 Posted on Wed Sep 10, 2008 2:30 am  
Not real sure, I commented on your other post, Try not to post double posts here, the moderators will come along and delete them.
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
anthony

anthony

Joined: 31 Jul 2006
anthony's page
Posts: 493



12319 Magic Points
 
 Posted on Wed Sep 10, 2008 9:31 am  
Hi Nikkia
Any creditor from whom you have taken a debt or collection agency to whom the debt has been sold, can report your debt to the credit bureaus if it remains unpaid for six months. In other words, the creditor can report the debt after six months from the date you made the last missed payment. The creditor should however be registered with the bureaus to report any debt to the credit bureaus.
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Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 417



10874 Magic Points
 
 Posted on Wed Sep 10, 2008 9:52 am  
I agree with Anthony. I think that the house owner as an individual cannot report anything to the credit bureaus. Only if you take a loan from a creditor who is registered with the bureaus, your payment history will be recorded in your credit report which will help you to improve your credit score. Even, if you do not repay the debt on time, the home owner need to hire a collection agency to report the debt to the credit bureaus because he cannot do it by himself. So if you want to improve your score by taking a loan and repaying on time, it is better to borrow it form professional credit agencies who can report it to the credit bureaus.
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Best Wishes
Justin
 
markdeviz



Joined: 27 Aug 2008
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Posts: 13



597 Magic Points
 
 Posted on Fri Sep 12, 2008 10:42 am  
report agency who creates your credit reports. there are many different types of companies those provide credit report
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goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3137



5334 Magic Points
 
 Posted on Sat Sep 13, 2008 12:55 am  
Companies send information to these agencies and they compile a report and that is how your report is generated.
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
Mary

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 324



8704 Magic Points
 
 Posted on Sat Sep 13, 2008 12:23 pm  
Yes, only registered credit companies can report the debt to the credit bureaus who in turn updates it in your credit report. However, if you are not a professional creditor and in spite of the fact you have given money to somebody as credit, you need to contact collection agencies to report the debt of the borrower to the bureaus, if the borrower somehow fails to pay you back as Justin said.
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Where there's a will, there's a way !!
 
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