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| *Loan,banking and credit>>>credit report |
If I were to rent out apartments, how can i report the tenants paying habits to a credit agency? |
I'm not asking for myself. I'm trying to build credit and my future landlord told me that if i found out how to do this that they would pursue it. Actually, the first poster is incorrect. There is a way not only to report rent payments for credit, but utilites, wireless phone and other monthly payments that normally aren't reported on credit reports. PRBC is a national credit bureau that helps people build credit using their non-debt bill payments that aren't reported to the other bureaus. So if you've always paid rent and other bills on time, you deserve credit for that. PRBC is completely voluntary - meaning, you have the choice to sign up. No bills, payments, accounts are tracked without your knowledge - which is very different than the Big 3. You choose which bills to report too - it's totally up to you. Lastly, you never have to do anything with your credit file with PRBC. It will never be shared without your permission. PRBC creates a separate report and bill payment score. It doesn't report to the Big 3 or fix bad credit with other bureaus, but showing that you pay your bills on time can only help you. In fact, it is your right under the Equal Credit Opportunity Act to have any creditor review "any information the applicant may present that tends to indicate that the credit history being considered by the creditor does not accurately reflect the applicant's creditworthiness." -http://prbc.com/pub/prbc_ecoa_advisory.p... payments for non-debt bills like rent, utilities, cable, phone, daycare, storage units, cell phone, insurance, etc. should count just as much as a credit card bill! And there are many others who feel the same way. Lenders are making mortgage loans based on PRBC Reports today. See this -http://prbc.com/consumers/how/mortgage.p... MGIC, the largest mortgage insurance company in the US is using PRBC data to automate approval decisions - http://sev.prnewswire.com/banking-financ... PRBC is aggressively exploring opportunities with credit card and auto dealers to make credit decisions based on people signing up with PRBC and showing they pay their bills on time. You can sign up and enter your bill payment history for free. When you're ready to use your report, you order a verification (PRBC uses FCRA-compliant partners to actually call and verify the data) - that should cost $20 to verify rent and $15 for other bills. But a PRBC Report could save you hundreds within just a couple of months since you could get better interest rates with it - by proving to lenders you pay your bills on time and are a good credit risk. You can also have your payments automatically recorded using their online bill pay service. PRBC teamed with CheckFree, the largest bill pay processor in the US, supporting banks like Wachovia and Bank of America. When you sign up and pay your bills online, your credit file with PRBC builds automatically. It's only $4.95 per month, which is the cost of most bill pay services that don't help you build credit-http://prbc.com/consumers/how/olbp-intro... Source(s): http://prbc.com/consumers/how/mortgage.p... http://prbc.com/pub/prbc_ecoa_advisory.p... http://prbc.com/consumers/how/olbp-intro... http://prbc.com/main/about/innews.php... http://www.fordfound.org/publications/ff... http://sev.prnewswire.com/banking-financ... You can't! The only way to get it on a credit report would be to hire a collection agency if you did not pay and that would only be a negative. Sorry! Try getting a couple of credit cards and using them once a month or so and paying all but one or two dollars off at the end of each month. Its about the best way to build up credit other then buying a house or car. The easiest way to report tenants paying habits to a credit agency is to screen on the application that you are going to check credit with the reporting agencies by calling the number. Landlord is a business... Sign up to one of the major credit bureaus as a company so you can start reporting and they will let you know if apartment rental is a reportable item. http://www.disputedemon.com http://www.disputedemon.com |
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