Annual Credit Report

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how can I report credit history for my borrowers to the credit reporting agencies. Does anyone know what is the procedure, and how far back can I report the information.

Best Answer

Contact Transunion.com, Equifax.com and Experian.com Each of them should have a "corporate/business" link to where you can contact an account rep, set up an acct with each and begin submitting customer's credit. Best wishes.

I am wanting to buy a new vehicle but before I do so I am wanting to pay off all my credit cards so that I will have less debt out and a better score. The only question is I heard that Capitalone takes longer to report Payoffs, Is that true and how long do they take?

Best Answer

Paying off all your credit cards will not necessarily increase your scores and if you close out the accounts that will actually hinder your scores. This is because you will not be showing any active credit. The best way to increase your scores is to keep your balances below 50% of your credit limit and make you payments on time. Also limit the # of times you run your credit. As far as when a Creditor (capital one) will update your credit report they report to the 3 major credit bureaus every 30 days. If you call them and ask them when is the next time they will be updating the information with the credit bureaus they can usually supply you with that information.

Mycompany downsized and as result , lost my job couldn't pay a couple credit cards, the credit card companies reported the written off balance to the IRS what form do I use to report those balances

Best Answer

If the amount is over $600, the company that did the write-off is required to send you a 1099-MISC with that information on it. I'd contact them immediately to get their story. Probably best to plan on filing an extension until you get it straightened out.

I have had loans with a bank and they don't report credit. I don't show a score on my report is there a way that I can get the bank to show that I pay on time and never late and report it myself. If so what would it cost?

Best Answer

In order for a bank to report to a credit bureau, it has to be a due-paying member. Some banks are not members because a credit bureau membership can be quite expensive.

I have learned how to check and run credit but i do not know how to report positive or negative credit. Please help

Best Answer

I would think you could ask your local SBA they have people that are already establised and mentor people such as yourself who are just getting started.