0
How would you write a negative report on a customer who has a severely past due balance?
Wiki User
∙ 12y ago
Reporting a customer (be it a person or company) to a credit bureau is often a last line of defense. Some customers need to be reported, there isn't any getting around it. I would suggest these things:
1. Check into your own Accounts Receivable practices.
-Are they in depth enough? Are we doing all we can possibly do to collect this account?
-How long do we wait? Most companies will require a bad debt to be 90 days old before it is written off.
2. Contact the proper Bureau.
-There are Equifax, Trans Union, and Experian. Each have different periods of debt and minimum reportable debt to be requested.
-Sometimes if the customer is a business you will need to contact the Better Business Bureau.
3. Black list the customer.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
If you pay your entire balance after your car is repossessed and the car is returned to you why will the lender report negative on your credit report?
Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.
If your customer breaks a written contract how can you have it reflected on their credit if they do not pay the balance of the contract?
Is your business one that already reports to the bureaus? If so, then report the customer as owing the balance. If not, you have three choices: Either report the debt, (there is a charge for signing up as a reporting member to the bureaus and for reporting a debt), or you can sell the debt to a collection agency (for 40-60% of the amount owed), or you can take your customer to court in a civil or small claims action. If you win the case, there will probably be a judgment issued against your customer. Be sure to have the judgment recorded in public records. It will get picked up there by the credit bureaus and placed on the customer's credit report.
What does a charge off with a zero balance mean?
A charge off with a zero balance means that a creditor has written off your account as a bad debt. This will show up as a negative mark on your credit report.
How do credit entries appear on your credit report after a chapter 7 is discharged and do they disappear from the report or show as 0 balance and indicate their inclusion in a bankruptcy?
The still stay on your credit report the normal length of time for negative credit entries (7 years). After the discharge, they might still show a balance but should also make not of being included in the bankruptcy.
To build a report with a customer What does the word report mean in this sentence?
report means nothing in this sentence. The word you are looking for is rapport and it means a relationship or bond with the customer.
What is an auto loan charge off?
When a customer is unable to pay of the auto loan the lender will repo the car, sell it, and charge off the remaining amount due to the customer. The exact amount charged off may vary depending on the lender. In the case of a repossession, unless it is a Bankruptcy, the remaining balance is DUE BY THE CUSTOMER. It is important to note, in the case of a bankruptcy, any money that is discharged through the bankruptcy can, at anytime, actually be paid back to the creditor and that negative report will be taken off of your credit report. If someone finally gets into the position that they can actually pay a debt off, it is better to do so.
Example of Annual report?
The balance sheet
If a customer show symptoms of an allergic reaction what report must be used?
incident report
How do you prepare an audit on negative report?
no answer
Anything about a TV news report that said credit card companies were accepting lower than 50 percent if you paid the balance in full without receiving a negative report?
I just saw the very tail end of a tv news report that said something about credit card companies were willing to accept 37 percent of the balance if you paid the balance in full without any negative reporting on your credit report. I think it might have something to do with a new plan to get people help to pay off or the government might have been trying to implement something. I cant remember what station, but it was a national news program and it was not an advertisement. I cant find anything about it on the internet. Have you heard anything about this? Thanks J.T.
List of the accounts in the general ledger with its balance as of a particular date.what is it?
This report is known as the trial balance.
You dont owe any money to your credit card companys but the negative remarks are still on your credit report how do you get them removed and how long does it take?
If it is listed as a charge off, or reporting lates with a $0 balance, than negative info will remain on your CR's for 7 years from the DOLA
