One of the most common questions we receive is how do we report our delinquent accounts to the credit bureaus?
Whether you’re using a service like Datalinx or your own software, you will need to go through the membership process with each bureau you would like to send your data. The credit bureau membership process usually takes between 2 and 4 weeks and may include a small fee depending on the bureau and size of your business. They may require an on-site inspection of your business to help ensure the integrity of the data once accessed from their system.
Once all the paperwork has been signed and the inspection is approved, the bureaus will issue you two codes, one for pulling credit data (commonly called your subscriber code) and another for reporting the credit information of your late accounts(also called your reporting code). The latter is what will be used to identify your information in the Metro 2 file.
Keep in mind, not everyone reports to all 4 bureaus, in fact most report to just 1 or 2. We recommend picking one initially to get started with and then add more bureaus as you get more comfortable with the process. They all use the same format (Metro 2) so once your membership is approved and your data has been converted, it’s just a matter of sending the same file to another location.
Below are the contact numbers for each of the bureaus.
- Trans Union – (714) 680-7206
- Equifax – (888) 202-4025
- Experian – (800) 831-5614 option 3
- Innovis – (281) 504-2611