Credit Bureau Reporter
Main Menu - Tools - Security - Credit Bureau Reporter
The Credit Bureau Reporter Information screen is used to capture information of the processing company that is performing the credit bureau reporting. (See How to Process Credit Bureau Data.)
Layout / How To
All text fields on this screen are automatically converted to uppercase characters.
Fill in the address as you would when addressing an envelope. There are no separate fields for city, state/province, and postal codes.
The phone number field is a numeric field and must only contain numbers.
This information is placed in the header record of the file that is transmitted to the credit bureau.
Mark the box at the bottom of the screen for the country's metro 2 format. If Canada, all currencies will be reported as Canadian dollars.
If you are a collection agency and are reporting data for other companies, then you should mark the "Include Original Creditor Names" box. You would also need to make sure that each creditor is set up in its own location, and that the location's credit bureau screen has the name of the creditor and the creditor class filled out. This will create a "K1" segment for each person being reported to the credit bureau.
The Metro 2 format of credit bureau reporting has the ability to rebuild 24 months' of payment information. In most cases, this is exactly what you want ALMSys to do.
The override date is only used in the situation where you do not wish to report any months (invoice due dates) prior to the date entered. You would want to use this in the situation where you attained your entire portfolio from a different company, but do not want any liability of reporting any months prior to when you took over the portfolio.
Now with that said, ALMSys will still calculate what the non-reported months would have been before calculating the reported months. This means that your first reported month may be delinquent, based on the payment history.