Bypass 30 day Check for Credit Reporting Rule Feature

The Credit Bureau Rule is: There must be more than 30 days between the “date if first delinquency” and the “date opened” in order for you to report it. Otherwise the credit bureau will reject any records that do not meet the criteria 

Due to the fact that the agencies are not usually furnished with these dates from their clients and the fields are required in the METRO2 format, Quantrax had to do the following: 

• First we check the “date of first delinquency” field on the account and use it if it is populated. If it is not populated we substitute the last transaction date

• Then we check the “date opened” field on the account and use it if it is populated. If it is not populated we substitute the placement date

• We then do the 30 day calculation based on the fields that contain data.

The 30 day rule is mandated by the bureaus.

My recommendation is to review all new business loads and if you are not getting the “DoFD” or “DO” dates, ask your clients for them and load them to the accounts. If they will not or cannot supply the dates, check and modify what may be loading as the last transaction date. This may minimize the accounts that are rejected

By activating this feature on the client master (page 7), you can bypass this 30 day rule and send the account to the file.

NOTE: The credit bureaus also have rules once the file gets to them, so the account may be rejected anyway.  

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