Who is capable of reporting you to a credit bureau?? Any business?only certain businesses..how does

What makes it so that a company has the %26quot;ability%26quot; to report you to a credit bureau and what info do they need on you? Thanks!

Who is capable of reporting you to a credit bureau?? Any business?only certain businesses..how does that work?

Actually any one can do it. If you owe a business money and you decide not to pay it most businesses instead of going to court will give it to a collection agency which intern sends you a nice letter and then if you dont pay it they put a nice spot on your credit. Yes you know about any borrowing institututions who do it regually. But through a collection agency almost anyone can. If you see any you can dispute it though.

Who is capable of reporting you to a credit bureau?? Any business?only certain businesses..how does that work?

The previous poster is only partially right.

Only a business that %26quot;subscribes%26quot; to the credit bureau(banks, mortgage cos., department stores, gas card companies, etc.) can report acount activity.

There are service companies that get info from the courts to report Bankruptcies, judgments, etc.

Collection Agencies(CA%26#039;s) can report after they have satisfied the requirements in the state in which the debt was incurred.

Check out some of the answers by Studly. He is %26quot;The Slayer%26quot; when in comes to dealing with CA%26#039;s