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Private creditor reporting to a credit bureau.

Posted by Ward-CA- on June 15, 2003 at 4:49 PM

In Reply to: Private Note - Foreclosure and Credit Report posted by Lughead on June 14, 2003 at 9:40 AM

: hello

: curious what effect the foreclosure of a privately held note has on the trustor's credit -

: is there a way for the private bene to report ?
: do credit companies regularily check for the Trustee's Deed?

: thank you
: Lughead
===========

I am positive the main three credit bureaus buy credit data from many regional sources who make it their business to report all new foreclosure filings, both judicially based and non-judicially based.

However if an individual creditor wanted to directly report on one of their deadbeats to a credit bureau, they might be blocked if they are not a regular reporting member of the credit bureau.


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