If one were so inclined, is it possible to set up an account with the three CRA's with the purpose of reporting your customers payment patterns, balances, dates, late pays, etc? It seems to me that If I wanted to, I could call each of them and request to be a subscriber. I'm sure it would cost money but imagine the possibilities.... Any thoughts? SnakeMan
.....cuz, I'm opening my own "company". It will be a new bank and you are all approved.....except Cnoob. .........uhh, yeah!
Do you have 5,000 POSITIVE ACCOUNTS FOR CUSTOMERS??? Or do you have 1 NEGATIVE ACCOUNT FOR ONE CUSTOMER???
I'll have it all GEORGE. Every loan that I do will be paid on time for a period of no less than 10 years. Yeah! That's right! I'll back date all your reports. I'll make sure to add a good ten years of immaculate credit history to each and every "customer" of mine. After all, they are the customer.....the customer is always right! SnakeMan
sounds good. Think you should take your proposed company and go public! I'll buy shares. Maybe make Lb VP of operations.
Yes, it's possible. But, I think the subscription and/or setup is prohibitively expensive. But, it shouldn't be difficult to do provided that the your business entity is properly formed and meets whatever requirements are necessary.
I think I remember hearing from an old landlord of mine wayyyyyyy... back, that I wanted him to report and he called and found out he could subscribe for 300 a year. This wasn't THAT far back I guess, 1998?
Went on Experian's site and started digging around to find out the cost or to get an idea of cost and found some interesting things. The link below you can get an idea of what a creditor sees when they pull and how much info they are provided with. From the looks not to different. http://www.experian.com/products/pdf/credit_profile_report_ps.pdf
Somehow I don't think it will work. I can't prove it but I am sure the CRA's have an agreement with lenders to report and keep as many derogs as possible for as long as possible, and if you're not sending any derogs in, then you MUST be drummed out of the Bureau. Of course, you could get the names and addresses of the Officers and Directors of the CRA's and start reporting derogs on THEM, then, when they dispute it - verify, verify and verify just like their companies do. Put the shoe on the OTHER foot and let's see how it feels.
If the lack of derogs is the only give away, that's easy to take care of. Just derog the hell out of fictional people. 30 days late to Mr. Albert ClickityClackClackBaboom and a 60 day whammy for Ms. Bonnie Applepieinthepants. Of course, with Snakeman's luck, those names would turn out to be real people and then he'd get sued and he'd promptly rollover on all of us as accomplices. Let's just forget it, I guess.
How do you know what kind of luck I have? Perhaps I have good luck? Maybe I have average luck? What about a "potluck"? ....then again, if I didn't have bad luck I wouldn't have any luck at all. It seems interesting though. I will keep you updated. SnakeMan
TALKED TO EXPERIAN.... One time membership fee of $175. One time inspection fee of $75. This is where a representative comes to your place of business to ensure you are a business. $50 a month minimum. Must have 500 accounts to report derogatory info for the 1st year. After 1 year if you have 500 or more accounts you can report positive info. If less than 500 accounts you cannot report positive info ever. Maybe TU and EQ have different rules.
Re: Re: How to subscribe to the big 3. I doubt they have different rules, but what more proof do you need that the CRA's WANT the derogs? Notice - you must have 500 derogs to report positive info, but without the derogs you can't report at all. Did you get that in writing? This would make an interesting Class Action suit against the CRA's for limiting reporting to only those companies who report derogs and make derog reporting a condition of membership.
Re: Re: How to subscribe to the big 3. I'm sure I could get it in writing. I am expeting a call from another rep for further info. Maybe I will request a written copy of the regulations and rules. IF anyone here has 10 minutes, call the other 2 and see what their requirements are. Thanks SnakeMan
Re: Re: How to subscribe to the big 3. So, there are over 9200 CN members. Sounds like more than 500 accounts to me. Report derogs on a couple, then remove when challenged. After the first year and over 500 accounts, report us all positive. Then buy all the chargeoffs and we'll pay you a couple of bucks to delete them and not report!
Re: Re: How to subscribe to the big 3. That's what I'M talkin' 'bout! I would do that without hesitation if I knew I wouldn't be sitting at Levenworth or even worse, ...booted from Credit Net.
Re: Re: How to subscribe to the big 3. Yeah, you can probably access creditnet from Leavenworth, so being booted is probably worse. Make sure you only report positives for CCN Steve!
