Does anyone know the laws concerning how a credit reports an account to the credit bureau? Do they have to report a charged off account or is it entirely up to them if they choose to report a bad account?
There are no laws about what must be reported to the credit beaurus, only laws about what's acceptable. If a creditor doesn't want to report, he doesn't have to. However, it's safe to assume that if they pull credit reports from the beauru, they have a contract which obligates them to report.
