 Credit reporting (by Alex [FL]) Sep 28, 2015 8:30 AM
 Credit reporting (by myob [GA]) Sep 28, 2015 8:33 AM
Credit reporting (by LisaFL [FL]) Sep 28, 2015 12:10 PM
Credit reporting (by #22 [MO]) Sep 28, 2015 6:53 PM
Credit reporting (by Kyle [IN]) Sep 28, 2015 7:00 PM
Credit reporting (by Ryowon [NC]) Sep 29, 2015 7:00 AM
Credit reporting (by Alex [FL]) Posted on: Sep 28, 2015 8:30 AM
Message:
State Specific Question About: FLORIDA (FL)
I would like to help a tenant rebuilding their credit score and would like to report timely rent payments to the credit agencies. How can I do this. --71.180.xx.xx |
Credit reporting (by myob [GA]) Posted on: Sep 28, 2015 8:33 AM
Message:
By not reporting them delinquent or filing with the court for Dispossessary and or non payment of rent. --74.184.xxx.xx |
Credit reporting (by LisaFL [FL]) Posted on: Sep 28, 2015 12:10 PM
Message:
Use Clearnow for rent collection. They report to credit agency if tenant wants in order to build credit score. --65.35.xx.xxx |
Credit reporting (by #22 [MO]) Posted on: Sep 28, 2015 6:53 PM
Message:
I have yet to see a proven case of this having an impact on a persons credit score.
Rents are not treated the same as debts and revolving payments in the eyes of credit card companies. --108.218.xxx.xxx |
Credit reporting (by Kyle [IN]) Posted on: Sep 28, 2015 7:00 PM
Message:
There are some services that will report on time rent payments, but it may not impact the credit score depending how it is reported.
There is a scoring model that takes rent payments into account but the bureaus are only recording payments reported by certain large property managers.
Even if you could find a way to report the payments, it may not have much effect on their credit. They should just focus on making their other payments and rent payments on time. --68.38.xxx.xxx |
Credit reporting (by Ryowon [NC]) Posted on: Sep 29, 2015 7:00 AM
Message:
My name is Ryowon, and I work for ClearNow, the service to which LisaFL refers. We provide a service that enables landlords to collect rent electronically from tenants. One of the benefits for tenants using ClearNow is their ability, if they wish, to have us furnish their ClearNow rent payment data to the Experian credit bureau for those tenants wishing to build their credit history.
We can only report payments made while the tenant is enrolled in ClearNow, so for past payments, unfortunately, we cannot furnish that data to Experian.
How rent payment data can affect a tenant's credit score is variable and influenced by other factors that are on the tenant's credit history. For example, the impact of positive rent payment data furnished by ClearNow can depend on how much other information (and whether it is positive or negative) a tenant already has in his/her credit file. ClearNow is not a credit bureau. We recommend contacting Experian directly and asking them how different items affect the credit score that Experian calculates.
If you have any questions about ClearNow, please contact us at (866) 882-5327 or Support@ClearNow.com. As a MrLandlord.com visitor, you can try ClearNow for free for three months! --184.12.xxx.xx |
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