Report To Credit Bureaus

Reporting to the credit bureaus with Collect! uses the Metro 2 (426 character format) file format. Use this form to export the Debtors you have marked to be reported to the bureaus. Output is sent to files with an .001 extension.

Please be aware that there is a minimum number of debtors and a minimum dollar value that credit bureaus will accept. Please check with your representative to determine these requirements.

Credit Reporting is a three step process. First, print a Summary Report to review the accounts being reported. Second, select the bureaus you want to send to and create the disk files or save the file to your hard drive, e.g. C:\ N.B. Be sure to check the log to correct any errors. It is most important to correct errors before sending to Credit Bureau. Finally, you can mark the contacts done. Please note that you must correct all errors before marking as done.

Before using the Report To Credit Bureaus form, setup the details of your reporting specifications using the Credit Bureau Setup form, the Credit Report Preferences form and the information given you by your credit reporting agency.

You can also schedule credit bureau reports to run using Collect!'s Scheduler.

Credit Reporting Process

WARNING: Reporting credit is a legal matter. You are responsible for ensuring that the information you are sending is accurate and complete. Do not report credit without being ABSOLUTELY SURE about your legal rights and the legal rights of the person or entity you are reporting.

Step 1

Select Tools from the top menu bar and then select Credit Reporting from the drop-down choices. This will display the Report to Credit Bureaus dialog.

First, print a Summary Report. It is important to review the output to be sure the desired accounts are being reported. This creates a report that you can print and keep for your records.

Step 2

Next, select the bureaus you want to send to, and create the files. Ensure that the log is free of errors.

During this step, you have a chance to correct any errors the system detects in your credit reporting information. These errors can be invalid addresses, incorrect or missing dates, and any other information.

During this step, you typically want to send the output to drive C (see the Help on Credit Bureau Setup), and only select one bureau to send to. After the file has been created, select the View Log button to review any errors. The files in which the errors are found are listed in the log. Go to each file listed and correct the error.

Only after you have corrected all errors should you make a final pass to create the files you will send to the credit bureaus. Then you can proceed to step 3

Step 3

Finally, you can Mark the Contacts as Done so the system knows they have been reported.

WARNING: Only take this step after you have completed step 2 and all errors have been corrected.

Report By Client

If report by client is switched ON, a client list will appear. Select the client to report for.

Tagging multiple clients will not work. Please select only one Client.

Before doing this you must set up the Client User2, User3, and User4 fields with values specific to the credit bureau being reported to.

User 2 = Trans union codes
User 3 = Experian codes
User 4 = Equifax codes

Each user field should contain 4 numbers separated by commas (control number[5]) , (grantor code[10]), (center code[3]), (area code[3]) The number in brackets represents the maximum number of characters for each code. You do not need to put spaces before or after the commas.

Examples:

TRANS UNION
Client User 2 = 12345,1234567890,123,123

EXPERIAN
Client User 3 = 54321,0987654321,321,321

EQUIFAX
Client User 4 = 35125,5328598124,451,271

If any numbers at the end are left out, the defaults will be used from the Credit Bureau Setup dialog. If there is only a Control Number present then it will be used, and the remaining 3 values will be default ones. This applies only to values missing at the end of the list.

Please do not simply supply a Grantor Code, for instance, and expect it to work. The first number in the list is always assumed to be the Control Number, the second is always assumed to be the Grantor Code, etc.

Examples:

INPUT (CONTROL NUMBER)

- control number = overrides default
- grantor code = default
- center code = default
- area code = default

INPUT (CONTROL NUMBER, GRANTOR CODE)

- control number = overrides default
- grantor code = overrides default
- center code = default
- area code = default

INPUT (CONTROL NUMBER, GRANTOR CODE, CENTER CODE)

- control number = overrides default
- grantor code = overrides default
- center code = overrides default
- area code = default

INPUT (CONTROL NUMBER, GRANTOR CODE, CENTER CODE, AREA CODE)

- control number = overrides default
- grantor code = overrides default
- center code = overrides default
- area code = overrides default

It will only work in the order specified above. You cannot override the Center Code unless the Grantor Code and Control Number are also overridden. In other words, you can only override a code if the codes prior to it are overridden as well.

Report To Trans Union

A check in this field tells the system to use the values defined for Trans Union in the Credit Bureau Setup, and to export the Debtors in the metro tape format. The name of the output file will be TU.001. If a file with this name exists, it will be overwritten.

Report To Experian

A check in this field tells the system to use the values defined for Experian in the Credit Bureau Setup and to export the Debtors in the metro tape format. The name of the output file will be EXP.001. If a file with this name exists, it will be overwritten.

Report To Equifax

A check in this field tells the system to use the values defined for Equifax in the Credit Bureau Setup, and to export the Debtors in the metro tape format. The name of the output file will be EFX.001. If a file with this name exists, it will be overwritten.

Equifax also requires that the Client details ( K1 segment) be sent with each Debtor. This can be set by selecting the check box labeled Send Client Detail in Reports in the Client Settings form.

Mark Contacts As Done

A check in this field tells the system that it is OK to mark all Metro contacts as done. When you have successfully completed your credit bureau report, you will be prompted to mark the contacts as done. This step has to be taken to insure that proper reporting has taken place.

If the system reports errors, choose View Log to find the errors. Fix them and run your report again.

The next time a transaction takes place, if the Debtor has a check in the Report to credit bureau field, a new Metro contact is automatically scheduled. Access the Credit Report Details form by selecting the CBR tab on the Debtor form. The Report to credit bureau switch is in the Credit Report Details form.

WARNING: Only take this step after you have completed step 2 and all errors have been corrected. Press F1 for details.

Credit Bureau Setup

Selecting this will take you to the Credit Bureau Setup form where you can enter settings for reporting to credit bureaus.

Sync To New Credit Bureau

Select this to run your first credit report to an additional bureau. There are a few steps to this procedure so please refer to help documentation first.

Historical Reporting

There are times when you may want to report to credit bureaus in a fashion that is not covered by the normal scheduled events. For instance, you may need to rerun a report that was already completed.

The historical reporting section is designed to handle these anomalous reporting procedures. You can specify a date and run your report on completed or uncompleted contacts.

Done Date

Done Date is used only for historical reporting. It works with the Completed Only switch to determine historical reporting behavior.

If you switch ON 'Completed Only', then Collect! will look for Metro contacts that were marked DONE on the particular date you select here.

If you leave 'Completed Only' switched OFF, then Collect! will look for IN PROGRESS Metro contacts PRIOR to the particular date you select here.

Completed Only

Completed Only is used only for historical reporting.

Switch this ON to include only completed Metro contacts in this historical credit bureau report.

Leave this switch OFF to include only In Progress Metro contacts in this historical credit bureau report.

Help

Press this button for help on the Report To Credit Bureaus dialog and links to related topics.

View Log

Selecting this will display the results of your credit bureau reporting session. If the system reported errors, you can find the details by viewing this Log and fix them.

If you don't usually clear the contents of this log when asked to "Clear Log" after viewing it, you may need to scroll to the bottom of the log to see the most recent session entries.

Close

Select this button to close this form without reporting to credit bureaus and return to the previous screen.

Selecting this will take you to the next step of the credit bureau reporting session, depending on the selection you have made. Either the report will be processed or a summary report will be printed.