Reporting Tenants To The Credit Agencies
We have a couple tenants that we have judgements in and we need to report them to the Credit Reporting Agencies. Anybody done this before??
We have already called and left messages at the Agencies, but nobody has called us back, and it had been a week.
I checked into it but recall that only very large companies can report to the credit companies. The judgement will likely show up on their credit if I remember right.
Just imagine any john doe being able to affect your credit.
In Orlando, Mark Management will report to the credit agency for you. I believe the way it works is that they take over the debt collection and get a percentage if it is collected.
Brenda
No, that isn't it guys.
You have to proove you have a judgement in somebodys name. We are a Property Management company and it would go under that name. Not our personal name.
I heard about this somewhere, but I need to find out details. I also don't want to use a collection agency on it as well.
I contacted the reporting agencies and was told to be considered in their application process I need to submit certified financials showing a high net worth or something. It was in the hundreds of millions so needless to say I didn't spend much more time doing research.
You should know that your judgement will likely get paid off at some point because when they go to apply for a loan or especially a mortgage they will require it to paid off.
I'm assuming you want to report more out of a moral obligation to others warning them to stay away.
I think on Mr. Landlord's web site, there might be a program where you can report tenants .
How can a judgment at the courthouse wind up on someone's credit report without me having to take some steps in putting it there? As slow as some court procedures are, I just don't see any automatic reporting to the credit agencies?
I would also like to know how to get my tenant's judgment on her credit report. Pleeeease help! :-? :-?
There are a few ways judgments get on credit reports.
One, there are companies out there that go around to all the courthouses, go through the files and then sell the information to the credit bureaus.
Two, you can send a certified copy of the judgment to the credit bureau yourself.
The motivation for getting judgments added to a credit report is that it greatly increases the likelyhood that it gets paid off as it increases its visibility to all concerned with the debtors credit. Some government assistance programs require no judgments before you can receive help.
Ryan
Make sure you record the judgement yourself....it should then show up on the credit report as a judgement...,,,it isnt listed the same but it is their and is a Major Red Flag for anyone considering offering them credit and if they try and buy a home it will be difficult to get around so they will have to clear it........
When we check peoples credit, we really take a look at if there are any judgements from Property Management Companies.
The problem is that we have called the Credit Reporting Bureau's and didn't get a call back.
I belong to the Apartment Association of Greater Los Angeles. They have a form, “Tenant Rental History”. For $10.00 (per individual) and filling out this form, a Complaint will be filed with Experian and Trans Union.
Information needed on the form is the Tenant’s name, SSAN, DL, address of property, Beginning and Ending date of Occupancy and Monthly Rent Amount.
Reason For Filing Complaint:
Unpaid damages, not covered by deposit.
Late payment of rent. Number of times.
Current rent unpaid.
Skipped out owing rent.
Evicted: Judgement Number And Date.
Small Claims Judgement – Case Number, Date and Court.
Wouldn't the judgement be recorded automatically if you won it??