How to File With Credit Bureaus

Consumer credit histories are maintained and reported by private companies commonly called credit bureaus. Creditors wishing to report credit items must contact these companies or go through an intermediary who will report the item on their behalf. No matter if you are a creditor or a debtor, it's important to know what steps are involved in reporting items to credit bureaus.

Instructions

1

Sign up with the credit bureaus. The three main credit bureaus, usually referred to as credit reporting agencies, of CRAs, are: Equifax, Experian and TransUnion. Each of these companies maintains separate credit histories on consumers, and each has different requirements for who can become a member and make a credit item report. Signing up with one or all of the CRAs may be possible, but for most small businesses it may not be a practical option.

2

Report through a credit reporting service. While the three CRAs maintain credit histories and provide credit scores, they rely on other companies and individuals to report creditor information to them. Some of these companies, generally referred to as credit reporting services, act on behalf of landlords, companies and other consumer creditors and report their items for them. Using these services is usually easier for most small businesses as they often charge smaller, or one-time, fees instead of ongoing membership costs most commonly found with the credit bureaus.

3

Begin a collections action through an agency. Probably the most common method of reporting a credit item to a credit bureau is by hiring a collections agency to act on your behalf. These agencies typically maintain a membership with one or more of the CRAs, and any collection they are asked to make is reported to the bureaus for the creditor. Collection agencies also generally charge fees or membership dues to their clients, and they can be used for single or multiple collections.