Thread: Reporting New Credit CRA

Ok, Here is the deal.

I have just got an installment loan from an individual. I plan to pay on time (I usually do). Individuals almost never report to CRA's. I Would like this loan to be reported.

Questions. What info can people here help me with? Anything I need to know? Does it cost money? Easy or hard to do? Advisable or not? best CRA to report such loan? All 3 major or only 1? Any first hand experience?

Thanks in Advance

Is the loan secured? If not, I suggest you take the money, put it in a savings account at a credit union that reports, and then borrow it back, the credit union probably has an account with a CRA.

Otherwise I think you're out of luck with getting it reported.

Thanks Breez, but it is a Secured Home loan. Contract for deed to be excert.

Ahhhh, I don't think you can get the CRA's to report it. Maybe someone else has had some luck with this - from what I hear it's virtually impossible to get this kind of thing added to your credit report.