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#738452 - 05/23/07 01:30 PM Credit Bureau Reporting for SCRA Customers
J Vogel Offline
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Joined: May 2007
Posts: 3
I was wondering how other institutions are handling credit bureau reporting for their SCRA customers. I've read some threads where companies do not do any credit reporting while a customer is covered under the SCRA. I've heard some companies only report to the credit bureaus for their SCRA customers who are making their payments on time, but don't report late customers at all.

I just wanted to know what everyone's thoughts are on reporting SCRA customers to the credit bureau.

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#740965 - 05/25/07 07:44 PM Re: Credit Bureau Reporting for SCRA Customers J Vogel
Andy_Z Offline
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I see no reason not to report. The SCRA doesn't mean they don't have to pay. Their payments may be reduced, but payments are not eliminated.

In a sense you may do them a disservice by not reporting. Say the servicemember starts an allotment to his girlfriend for his bills. From that, she is to pay his loan with you. He checks his credit report periodically to watch his credit and look for ID theft, activity, etc. If you don't report, he may not know, without contacting you specifically, if the bill is being paid.
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Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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