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Determining the Total Credit Reporting Delay Time Frame for a Non-Medical Account

When reporting accounts to the credit bureau you will need to make sure you understand how the system handles credit reporting delay time frames and how it relates to when your company processes your credit reporting files.

There are 2 features associated with the credit reporting delay:

  • Contact Series “Credit Reporting Delay” field (the initial Contact Series only) (System Control Menu - Contact Series Definition)
  • Credit Reporting file creation fields (Periodic Reports Menu - Credit Reporting File Creation)

                      “Last date for placements”

                      “Last date for PIF's”

These 2 features are combined to create the Total Credit Reporting Delay time frame for an account. Ex. Contact Series “Credit Reporting Delay” field (the initial Contact Series) has 45 days in it and the File creation field “Last Date for Placements” has a date that is 45 days prior in it-the account will not be eligible for credit reporting until it is 90 days old from placement.

NOTE: The date you process the credit reporting file will also affect the credit reporting delay time frame. If the account actually qualifies (based on above parameters) on the 1st day of the month but you do not run the file until the 15th then 15 days will have been added on to the total credit reporting delay time frame.

NOTE: The Last Date for PIF’s field on the file creation is independent. The option does not deal with the Contact Series credit reporting delay, it reports based on the date entered.

NOTE:  By default, METRO 2 credit reporting does not report an account if the Last Transaction Date is less then 30 days from the Placement Date, but can be controlled on the Client Master. This is not applicable for Bad Check clients (B or Q Client types).                                      

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