For credit bureaus, customer service begins with a letter - yours!

Article Abstract:

Credit grantors should make sure that their declination letters are structured correctly to ensure that the customers who are supposed to receive the correspondence fully understand why their application is being turned down and to avoid their feelings getting hurt. The Associated Credit Bureaus released guidelines that credit grantors may follow when writing a properly worded declination letter. The checklist requires the inclusion of such information as the name, address and telephone number of the credit grantor; name, address, birthday and Social Security number of the consumer; clear and genial explanation of why there was a denial of the customer's request for credit; and a statement indicating that the decision was reached by the credit grantor and not the credit reporting agency. Another information is a statement telling the recipient that the credit reporting agency will not be able to give the reasons for the rejection.

On-Line Information Services, Information retrieval services, Credit Checking Vendors, Methods, Credit management, Letter writing, Business letters, Commercial correspondence

---

Standard credit bureau reporting

Article Abstract:

The proposed standard for credit bureau reporting adopted by an inter-industry group on Sep 3, 1987 could improve accuracy and eliminate some current problems. A common understanding and application of past due ratings and the timeliness of reporting delinquent accounts are two areas that would be corrected. The problem of deleting tradelines and changing derogatory status to current would also be reduced, although credit grantors are often hard pressed to respond to verification requests within the time period prescribed by law. Problems requiring future study are split inquiries from competitive credit bureaus and the 'edit out' of some information from the credit grantor's monthly tapes.

Debtor and creditor

---

Creditor pitfalls with credit clinics

Article Abstract:

Credit issuers have an obligation not to give in to unreasonable consumer demands to change credit records, especially when those records are true. Credit clinics have sprung up across the US promising to get the credit records of consumers cleaned up by intimidating credit issuers until they accede. Credit records should not be changed if they are true, accurate, and satisfy the standards of the Fair Credit Reporting Act. Fifteen states have enacted legislation to control the activities of credit clinics.

Liability for credit information, Credit liability

Similar abstracts:

• Abstracts: Financial graphs: true and fair? Assurance services issues. Funding intellectual capital: the valuation dilemma
• Abstracts: E-government agenda. E-commerce models: choosing what suits
• Abstracts: For the record. Big brother is watching
• Abstracts: A degree of hope. Credit: as simple as a wheel. Bankruptcy - we can do something about it

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.