How to Report People to the Credit Bureaus

The three major credit bureaus--Equifax, Experian and Trans Union--help bring financial responsibility to bear in the United States. These three agencies report payment histories for most American consumers. Lenders and even employers look at credit reports to gauge a potential applicant's fiscal discipline. While most of the companies reporting to the credit bureaus are large-scale, it is possible to report individuals to the credit bureaus. There are two standard methods: collection agencies and court judgments.

Things You'll Need

• Documentation to support the delinquent debt
• Payment history on account
• Initial loan contract
• Copies of canceled checks for loan payments (or bank statements confirming deposits)

Instructions

Collection Agency

1. Determine your willingness to sacrifice losses on the account in question. A collection agency often will charge a high fee and high percentage to take on an individual debt--but sometimes this is better than losing the entire balance of the account.

2. Research different collection agencies. Start with the National Association of Retail Collection Attorneys, or NARCA. This association lists accredited agencies and individual collectors. You can use this association to find a collection agent in your area.

3. Choose a collection agency and negotiate collection terms with the attorney or office. Get the collection contract in writing before agreeing to it.

4. Transfer the debt to the collection agency. Confirm, after three weeks, that the collection agency is indeed reporting to the credit bureaus. You cannot access the individual's credit report, but you can call the collection agency to confirm.

Judgment

1. Sue the individual who owes the delinquent debt. You cannot have a judgment filed on a person's credit report without court authorization.

2. Hire an attorney to handle to lawsuit for you. Make sure you provide the attorney with all copies of relevant documents. Do not settle the claim out of court--a decision is required to file on a credit report.

3. Win the lawsuit. If the case is valid--that is, if you've accurately proven the debt you own is delinquent--you should be able to get the judge to rule on your behalf.

4. The court will automatically place a judgment against the defendant's credit report. This will negatively affect his or her score.

References

• How to Report Someone to the Credit Bureaus

Resources

• National Association of Retail Collection Attorneys