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Reporting to the Credit Bureau for the First Time

If this is the first time you have reported to the credit bureau using RMEx, there are two issues that need to be considered:

  • Conversion accounts that should not be reported - A one-time custom program may be required to flag the accounts you do not want to report. (E.g. all accounts placed before a certain date)
  • Conversion accounts that should be reported – The reporting status should have been brought over on the accounts that were reported on the other system and you should be able to run the credit reporting feature using Rmex

Note: It is recommended that Quantrax reviews the format in order to make sure there are no problems with the file you will be creating

Note:  By Default we do not credit report accounts that are closed with an inactive close code or zero balance (close code 1 - PIF)

Note: Make sure you set up the credit reporting system control with an "A" (A=All) in the field "type of credit reporting (B,A)". After the 1st file is processed you can change this to balance or exception reporting. 



Keywords - Kbase Credit Reporting Credit Bureau

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