How To Read The Metro2 Format

Metro2 Format is the current standard format for reporting credit. It meets all the requirements of the Fair Credit Reporting Act (FCRA), the Fair Credit Billing Act (FCBA), and the Equal Credit Opportunity Act (ECOA). It allows most accurate and complete information on consumers' credit history.

Collect! provides the internal functions to report credit correctly using Metro2 in the 426 character format. However, there are a few rules to be handled by you as you report your debtors to the bureaus.

• Report all accounts on a monthly basis.
• Report all accounts with a final status code when they are ultimately paid or closed.
• Credit grantors must report accounts at the close of each cycle.

When you run credit bureau reporting in Collect! a file is produced for you to send to the credit bureau. This file has one long line of data for each account that is reported. It is actually made up of several segments. Each one is described below. Select the link to open the detailed page for each segment.

Metro2 Format - Header Record

The Header Record is the first segment of a credit reporting file. It contains information necessary to identify the reporting entity or agency. It also identifies the credit bureau the file has been produced for and the reporting date.

In the image below, the fields in the Header Record are partitioned and identified. Actually, this is one long string of data in the reporting file.

In the tables below:

• Field is the Metro2 Format Field number
• Field Name is taken from the Metro2 Format. Refer to the Field Number and Field Name when you are trying to determine CBR requirements for particular areas.
• Length and Position can be used as reference points when you are examining actual data in the report as Collect! generates it.
• Source is the field in Collect! where the information is pulled from, or some sort of internal value, as indicated.

Collect! uses the 426 character format when creating the credit reporting file in Metro2 Format.

For more information, please refer to your credit reporting manual or consult with your credit bureau representative.

Metro2 Format - Base Segment

The Base Segment is the second segment of a credit reporting file. It contains the primary consumer's identification information and the account transactional information.

In the image below, the fields in the Base Segment are partitioned and identified. Actually, this is one long string of data in the reporting file.

In the tables below:

• Field is the Metro2 Format Field number
• Field Name is taken from the Metro2 Format. Refer to the Field Number and Field Name when you are trying to determine CBR requirements for particular areas.
• Length and Position can be used as reference points when you are examining actual data in the report as Collect! generates it.
• Source is the field in Collect! where the information is pulled from, or some sort of internal value, as indicated.

Metro2 Format - J1 Segment

The J1 Segment accommodates the requirements of ECOA when reporting credit. It is included in the reporting file if the cosigner is being reported. The J1 Segment applies when the associated consumer resides at the same address as the individual being reported. It is included every time the account is reported.

In the image below, the fields in the J1 Segment are partitioned and identified. Actually, this is one long string of data in the reporting file.

In the tables below:

• Field is the Metro2 Format Field number
• Field Name is taken from the Metro2 Format. Refer to the Field Number and Field Name when you are trying to determine CBR requirements for particular areas.
• Length and Position can be used as reference points when you are examining actual data in the report as Collect! generates it.
• Source is the field in Collect! where the information is pulled from, or some sort of internal value, as indicated.

Metro2 Format - J2 Segment

The J2 Segment accommodates the requirements of ECOA when reporting credit. It is included in the reporting file if the cosigner is being reported. The J2 Segment applies when the associated consumer resides at a different address than the individual being reported. It is included every time the account is reported.

In the image below, the fields in the J2 Segment are partitioned and identified. Actually, this is one long string of data in the reporting file.

In the tables below:

• Field is the Metro2 Format Field number
• Field Name is taken from the Metro2 Format. Refer to the Field Number and Field Name when you are trying to determine CBR requirements for particular areas.
• Length and Position can be used as reference points when you are examining actual data in the report as Collect! generates it.
• Source is the field in Collect! where the information is pulled from, or some sort of internal value, as indicated.

Metro2 Format - K1 Segment

The K1 Segment contains the name of the Original Creditor and the Creditor Classification code. This segment must be included whenever an account is reported by collection agencies, debt collectors, factoring companies and others. This information is reported to help consumers identify the source of accounts when they appear on credit reports. Without the original creditor names, consumers may not know what the accounts represent.

In the image below, the fields in the K1 Segment are partitioned and identified. Actually, this is one long string of data in the reporting file.

In the tables below:

• Field is the Metro2 Format Field number
• Field Name is taken from the Metro2 Format. Refer to the Field Number and Field Name when you are trying to determine CBR requirements for particular areas.
• Length and Position can be used as reference points when you are examining actual data in the report as Collect! generates it.
• Source is the field in Collect! where the information is pulled from, or some sort of internal value, as indicated.

Metro2 Format - Trailer Record

The Trailer Record is the last segment of the credit reporting file. It includes cumulative totals of all records, all segments, all Metro2 status codes, SSN #'s, Dates of Birth, Phone Numbers and other information. This information is used to verify that all records received have been processed.

The image below shows the Trailer Record. In the reporting file, this is one long string of data.