Companies that report good loans (positive trading lines) or non-performing debts (negative trading lines) to credit bureaus must first enter into a data or service veneer agreement with each credit bureau (Equifax, Experian, Innovis, TransUnion) to which they will report. The Data Furnishers agreement is required, whether you report directly (in-house) to credit bureaus or via a processor/stacking service such as The Service Bureau. This is a separate agreement to obtain credit reports. Step 3 – Once you`ve reached an agreement with the offices and completed the minimum account, you`re ready to order Credit Manager software to accurately report your accounts receivable or receivable using metro 2®. Electronic transmissions are a safe and secure method of notification. TransUnion requires that all data be transferred by the safest method, which is the electronic transmission of data. For our valuable data providers: look at valuable documentation and information for a large number of reporting scenarios. Once the login information is complete and a file has been successfully transmitted via EDT, testing will begin. All new customers must submit their credit file to TransUnion for review and approval. Examples of test data will be emailed to you for verification before the data is actually loaded.
A letter of authorization that must be signed and returned to move the program to production is included. TransUnion makes it easy for you to view the registration information and reporting obligations you need to successfully communicate the data to TransUnion and acquire the Metro 2 format. The following links contain valuable information about our transmission requirements and testing process, as well as useful recommendations for finding software providers for this process. The data report is at the heart of the process that establishes a consumer credit report. There is no credit report without data preparers who send timely and accurate account updates to TransUnion. Accurate and timely reporting of data involves reducing risk to businesses, accurate assessments of credit quality for consumers and reducing litigation for credit reporting customers.
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