How Do I Report Delinquency to a Credit Bureau?
- 1). Pay a fee directly to the credit bureaus. This is the most direct way to report delinquency to a credit bureau. While each credit reporting agency has its own set of guidelines and schedule of fees to report directly, the general process is to pay the fee and submit the pertinent information to the credit bureau such as, but not limited to: the delinquent payee's full name, date of birth, Social Security number, current (or previous address) and the delinquency amount and time of delinquency, along with the business' name or landlord's name. There may also be a requirement to submit supporting documents (such as an invoice or lease). (See Resources 2, 3, 4)
- 2). Hire a collection agency. Collection agencies are typically members of the three credit bureaus and have privileges to report legitimate delinquencies. Collection agencies will charge a percent of the amount owed for their services, but they will attempt to collect the debt(s) and have a streamlined process to report delinquency to the credit bureaus.
- 3). Use a credit reporting company. Credit reporting companies specialize in not only reporting delinquencies, but they also provide support to businesses and landlords in all aspects of credit reporting (see Resources 1). While credit reporting companies will report delinquencies to all three credit bureaus, they will not assist in collecting the debts, as do collection agencies.
