Triggering an account for credit reporting

There are many events that can trigger credit reporting for an account, including settling an account for less than what is owed, making a payment to the principal balance, or reporting a bankruptcy. Use the table below to find information on events that trigger credit reporting.

Action	See the following topic	Parameters and Description
Cancel or stop credit reporting	Taking credit reporting actions on an account -or- Requesting or reinstating credit reporting	When an account is evaluated for credit reporting, the system attempts to report the account with status DA. Even if you set up a CAN status to report as active 93, the account reports with a status of DA, if you canceled the account. For status code definitions, refer to Adding or editing credit reporting agencies.
Settle in full (SIF) or settle an account (SF)	Adding or editing an Account record	When canceled accounts are evaluated for credit reporting, the system checks for status codes ending in SF or SIF. Accounts with these codes report as PIF 62 and an AU comment code. This indicates the balance was settled for less than the amount owed. For status code definitions, refer to Adding or editing credit reporting agencies.
Make a payment to the principal balance	Managing transactions	If the credit reporting agency is set up to report interest and fees, the system selects every item in the TRANS file with a value in attribute 1 (account number).
Report a bankruptcy to the credit reporting agency	Reporting a bankruptcy to credit reporting agencies	Bankrupt accounts report as active with a comment code indicating their bankruptcy type. Bankruptcy codes are stored in the Account file in attribute 59.21. The date you changed the status is stored in attribute 59.22.
Report a dispute to the credit reporting agency	Reporting a dispute to credit reporting agencies	Disputes report the following month as active accounts with comment codes. Dispute codes are stored in the Account file in attribute 59.14.
Resolve a dispute	Reporting a dispute resolution to the credit reporting agencies	Use code DP to mark the dispute as resolved.
Add or remove MR- from the beginning of an address in an account	Managing packets	The skip and locate features must be turned on for this functionality to work properly. When MR- is added to the beginning of the address, the account reports the following month, with a status of 98 (skip code) and with T as the Consumer Info ID, if it reported in the past as a new account. For status code definitions, refer to Adding or editing credit reporting agencies. If MR- is removed from the address, the account reports the following month, with a status of 85 (skip code) and with U as the Consumer Info ID.
Setting field 301 in the Client Control Record to Y.	Managing client records -or- Adding or editing an Account record
Request or reinstate credit reporting	Taking credit reporting actions on an account

During Month-End, these accounts are moved to the credit reporting agency file. When the credit reporting process runs, these accounts are reported to the credit reporting agency. The system adds the credit reporting agency name to attribute 59.5 in the Account file.

An account will not report to the credit reporting agency if attribute 1 of the credit reporting agency file is blank and the credit reporting agency name is not in attribute 59.5 in the Newdebtor file. The Collector System populates attribute 1 when a new account is added to the Newdebtor file.