How do I Report Tradelines to the Credit Bureaus

[Artie77]

Hello fellow CB'ers,

 

I was wondering if anyone has any experience setting up their business to report tradelines to the National Credit Reporting Agencies? For instance, if I want to start issuing products or services to customers on credit and would like to report their payment history to the credit bureaus can I do this under my business? How do I start this process?

[BRBiz]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

[EvilMan]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

 

Know a good third party?

[BRBiz]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

 

Know a good third party?

 

Most major banks do this type of financing.

 

Tops ones are Wells Fargo, HSBC and GE

[EvilMan]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

 

Know a good third party?

 

Most major banks do this type of financing.

 

Tops ones are Wells Fargo, HSBC and GE

if

Is there any kind of inspection to report to equifax or experian businesses only? if so what requirements?

[alpha12]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

 

Know a good third party?

 

Most major banks do this type of financing.

 

Tops ones are Wells Fargo, HSBC and GE

 

 

 

So if I sell products, do I simply call my bank and say I want to report it through you? I mean how does this work exactly??

[BRBiz]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

 

Know a good third party?

 

Most major banks do this type of financing.

 

Tops ones are Wells Fargo, HSBC and GE

 

 

 

So if I sell products, do I simply call my bank and say I want to report it through you? I mean how does this work exactly??

No this is for financing customers and you would have a agreement set up with a bank that they would do the financing and reporting.

 

Do want to do this for business customers or personal?

[douginsea]

if your selling to business..you can report your tradelines to experian business. somewhat of an easy process.

 

if you wish to report consumer tradelines...to the big 3. you have to apply to each one seperatly and each would require a site inspection of your business and credit. as per the FCRA and FACTA.

[daisychanal]

Hi! What about reporting to Dun&Bradstreet and Equifax Business. Do you know how easy that is to set up?

Also does anyone know of any third party that will report to consumers credit reports. I'm home-based and would not be able to do so.

[milesb]

Gboogie has an ebook that was pretty good on setting up to report tradelines...

 

 

Hi! What about reporting to Dun&Bradstreet and Equifax Business. Do you know how easy that is to set up?

Also does anyone know of any third party that will report to consumers credit reports. I'm home-based and would not be able to do so.

[daisychanal]

I purchase the ebook. I'm looking for information on third party that may be able to report consumers credit payment histories.

[Guest Mark Johnson]

Gboogie has an ebook that was pretty good on setting up to report tradelines...

 

 

Hi! What about reporting to Dun&Bradstreet and Equifax Business. Do you know how easy that is to set up?

Also does anyone know of any third party that will report to consumers credit reports. I'm home-based and would not be able to do so.

 

Yea, I saw that milesb did you buy it I was thinking about purchasing it but was on the fence

[daisychanal]

Yes! I did buy it for $15. It's a 5 page report. He gives you the contact information for four business bureaus. Dun&Bradstreet, Experian, Equifax and transunion.

[daisychanal]

If you want to report on Consumers credit report, you will need to be a brick and mortar business. They will send someone over to your place of business for inspection. He said they will look at your lease.

[MainSt.]

For business purposes, reporting to DnB isnt very hard. You have to be in business for one year, you must have bought their products, and you have to be a legitimate business with verifiable customers. Presently you have to have around 300 customers for DnB and I believe its only 50 for experian BUT THEY DO RANDOMLY VERIFY YOUR CUSTOMERS!

[alpha12]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

 

Know a good third party?

 

Most major banks do this type of financing.

 

Tops ones are Wells Fargo, HSBC and GE

 

 

 

So if I sell products, do I simply call my bank and say I want to report it through you? I mean how does this work exactly??

No this is for financing customers and you would have a agreement set up with a bank that they would do the financing and reporting.

 

Do want to do this for business customers or personal?

 

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

 

Know a good third party?

 

Most major banks do this type of financing.

 

Tops ones are Wells Fargo, HSBC and GE

 

 

 

So if I sell products, do I simply call my bank and say I want to report it through you? I mean how does this work exactly??

No this is for financing customers and you would have a agreement set up with a bank that they would do the financing and reporting.

 

Do want to do this for business customers or personal?

 

 

Well my customers range,really it could be either one, business or personal that is..I guess whatever is easier then can take it from there,just to get a start let's say Business, now i wouldn't necessarily want to finance them in the traditional sense..

Maybe on like just net 30 terms etc... then of course have it reported so they can build credit

 

Just like grainger etc.. OH sorry so late on the response, been traveling a lot,and kinda new to using forums, didn't expect such a quick response!!

This is great! Thanks and looking forward to your post

 

P.S. What is gboogie??

[milesb]

Gboogie is a credit guru that has some ebooks and stuff on different business credit subjects and some different products he reports. Pretty good stuff..Doing one of his programs to see if it works. Ill post everything here good or bad . See if his system claims are true or not. But so far so good... The same information is here its just hard to locate sometimes..

 

 

 

 

Just like grainger etc.. OH sorry so late on the response, been traveling a lot,and kinda new to using forums, didn't expect such a quick response!!

This is great! Thanks and looking forward to your post

 

P.S. What is gboogie??

[nycluv]

Gboogie is a credit guru that has some ebooks and stuff on different business credit subjects and some different products he reports. Pretty good stuff..Doing one of his programs to see if it works. Ill post everything here good or bad . See if his system claims are true or not. But so far so good... The same information is here its just hard to locate sometimes..

 

 

 

 

Just like grainger etc.. OH sorry so late on the response, been traveling a lot,and kinda new to using forums, didn't expect such a quick response!!

This is great! Thanks and looking forward to your post

 

P.S. What is gboogie??

 

 

 

miles b your are everywhere! lol,.... so does gboogie have step by step corp info as well (for beginers!)?

[milesb]

Yeah he has a couple of programs and the bundle that reports. He has a membership area thats good. Its a good place for starters.

 

 

 

 

 

Just like grainger etc.. OH sorry so late on the response, been traveling a lot,and kinda new to using forums, didn't expect such a quick response!!

This is great! Thanks and looking forward to your post

 

P.S. What is gboogie??

 

 

 

miles b your are everywhere! lol,.... so does gboogie have step by step corp info as well (for beginers!)?

[Guest Mark Johnson]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

Negativity must be your middle name I have read alot of your responses and I have noticed that you never give any positive responses. My mama always taught me that if you don't have nothing nice to say then don't say nothing at all.

 

It's just a personal observation if you disagree that's fine I won't respond but look at your own postings and see for yourself.

[Guest Mark Johnson]

Hello fellow CB'ers,

 

I was wondering if anyone has any experience setting up their business to report tradelines to the National Credit Reporting Agencies? For instance, if I want to start issuing products or services to customers on credit and would like to report their payment history to the credit bureaus can I do this under my business? How do I start this process?

 

Artie 77 I can share with you what I have learned about reporting to the CRA's over the years I would presume that you would like to report business credit. Or maybe you would like to do personal or both. If you know which type of credit (Business or Personal) I will be able to point you in the right direction.

 

Also what is that you would like to report meaning what type of service or product will you sell to report ?

 

I'll keep a look out and respond back when you reply to my post.

[BRBiz]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

Negativity must be your middle name I have read alot of your responses and I have noticed that you never give any positive responses. My mama always taught me that if you don't have nothing nice to say then don't say nothing at all.

 

It's just a personal observation if you disagree that's fine I won't respond but look at your own postings and see for yourself.

 

salamander! Mind your own business. You get pissy because you want every one thinking that business credit is still booming so people will still buy your products.

 

The whole problem with business credit today is all the fake businesses out there that opened up accounts and got loans they could never pay back since they didn't have real businesses. That killed the credit for real businesses. Thanks to the people who sold this info on how to do this. You know who you are even though you use numerous names!

 

The best way for lenders to verify your real business is to request some bank statements, every creditor/lender should request these and it would weed out all these credit builders and stealers that dont actually bring in any money.

 

I would never suggest that any small business owner do there own financing for customers that is a great way to go belly up real quick.

Have a bank/lender do that for you that is what they do every day.

[milesb]

I will agree with you on that one. Reporting your self can be tricky if you are not careful . If you do not have the money to cover you inventory you can crash FAST. Scammers are everywhere. People abusing the system as a whole messed it all up. From mortgage lenders to Scammer starting businesses getting credit and abandoning them. I would say if you do not have the monies set aside to take this on then don't! It could be your last hoorah in business period.

[milesb]

Remember this is BUSINESS Credit. That does not mean get credit then spend it. How will you pay it back if the business makes no money...So you can report but proceed with caution and do your homework. Please read through the information thats here. It will help.

[Guest Mark Johnson]

The best way to do this is to have a third party do this for you. It cost you time and money to do it your self along with the liabilty it puts on you just doesn't make alot of sense to do your self. I'm talking about the financing and reporting because if you have a bank do it for you they will report it to the CRA's but if you really want to do the financing your self still have a third party report for you.

 

Negativity must be your middle name I have read alot of your responses and I have noticed that you never give any positive responses. My mama always taught me that if you don't have nothing nice to say then don't say nothing at all.

 

It's just a personal observation if you disagree that's fine I won't respond but look at your own postings and see for yourself.

 

salamander! Mind your own business. You get pissy because you want every one thinking that business credit is still booming so people will still buy your products.

 

The whole problem with business credit today is all the fake businesses out there that opened up accounts and got loans they could never pay back since they didn't have real businesses. That killed the credit for real businesses. Thanks to the people who sold this info on how to do this. You know who you are even though you use numerous names!

 

The best way for lenders to verify your real business is to request some bank statements, every creditor/lender should request these and it would weed out all these credit builders and stealers that dont actually bring in any money.

 

I would never suggest that any small business owner do there own financing for customers that is a great way to go belly up real quick.

Have a bank/lender do that for you that is what they do every day.

 

Although you make a valid and true point it is over shadowed by the language you chose in your opening line.

 

We all must respect everyone and if you don't have nothing nice to say then it's probably best not to say anything all.

 

I have and never will stoop to lower myself to call people names because of what they have said, nor will I engage in any sort of juvenile behavior that will lessen others opinion of me.

 

I am sure that other CB Members will agree that respecting others and avoiding name calling and eluding confrontations will make CB a more enjoyable place to network socialize and learn. Since we have all made it our business to help one another it is my belief that we should also make it our business to respect one another and encourage one another all the same.

 

If you took offense to that,...

 

Well what can I say other than I won't be baited into turning the CB into a place of disrespect and arguments if that is what you are looking for sorry to disappoint you.

 

You have the right to feel the way you do and more importantly you have the right to speak how you feel all I ask is that you do so in a more constructive manner rather than a destructive manner.

 

Peace

Edited August 25, 2010 by Mark Johnson