anyone ever heard of small banks not reporting to credit bureau | TigerDroppings.com

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snizzle
LSU Fan
lafayette, LA
Member since Dec 2012
189 posts

anyone ever heard of small banks not reporting to credit bureau



bought a 2010 gmc serria in 2009. went yesterday to look at a new one and apparently my bank has not been reporting my credit. is that even legal. fuuucccckkrkkkkk






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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
32656 posts

re: anyone ever heard of small banks not reporting to credit bureau


You are poor





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Meauxjeaux
Memphis Fan
I have 89,367 posts with my alters
Member since Jun 2005
17282 posts

re: anyone ever heard of small banks not reporting to credit bureau


More than likely they report to a bureau that the people who pulled your report didn't get.

IE, small bank reported to TransUnion. New bank pulled an Experian report.




This post was edited on 6/28 at 8:46 am


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DaphneTigah
USA Fan
Flying under the radar.
Member since Dec 2007
4470 posts

re: anyone ever heard of small banks not reporting to credit bureau


Rent to own does not count





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LSUballs
LA-Monroe Fan
RayVegas LA
Member since Feb 2008
21490 posts

re: anyone ever heard of small banks not reporting to credit bureau


I remember having to get on my bankers arse back in the day when I was trying to build my credit up because they weren't reporting my loans to the credit bureau. It was a small bank. They do better now days...





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LSUballs
LA-Monroe Fan
RayVegas LA
Member since Feb 2008
21490 posts

re: anyone ever heard of small banks not reporting to credit bureau


quote:

More than likely they report to a bureau that the people who pulled your report didn't get.



I think that was the case with my bank.






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The Mick
Michigan Fan
Member since Oct 2010
23327 posts
 Online 

re: anyone ever heard of small banks not reporting to credit bureau


Yea you might want to ask them to pull all 3 reports if they can. Your small bank may only report to one.

FWIW, my company reports to credit bureaus (commercial and consumer) and its very expensive to do so.






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Putty
LSU Fan
Member since Oct 2003
21332 posts

re: anyone ever heard of small banks not reporting to credit bureau


Many small banks do not report. They only have to report if they have an agreement with the agency.





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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
9082 posts

re: anyone ever heard of small banks not reporting to credit bureau


There is no requirement that anyone report to a credit bureau.

I would go back to the dealer and ask if they would extend credit if you can get your bank to show that you've not missed any payments on your loans with them.

If they're dealing with outside financing it may not work, but some dealers do their own. Also, your bank may be able to offer a better deal depending on what the terms are.






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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
41012 posts

re: anyone ever heard of small banks not reporting to credit bureau


quote:

More than likely they report to a bureau that the people who pulled your report didn't get.

IE, small bank reported to TransUnion. New bank pulled an Experian report.


You realize what appears on one must appear on all three?






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
71402 posts
 Online 

re: anyone ever heard of small banks not reporting to credit bureau


fall behind on your note and they'll report it





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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
11433 posts
 Online 

re: anyone ever heard of small banks not reporting to credit bureau


quote:

Rent to own does not count


Yes it does.

If your bank does not report and you have a limited credit history you can supply a lender with copies of canceled rental checks, car payments and/or bank statements to support a history of paying on time. The lender has to use this documentation when determining your creditworthiness for a loan.






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Meauxjeaux
Memphis Fan
I have 89,367 posts with my alters
Member since Jun 2005
17282 posts

re: anyone ever heard of small banks not reporting to credit bureau


quote:

You realize what appears on one must appear on all three?


You realize how wrong, stupid and ignorant that statement is?






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HeadyMurphey
LSU Fan
Los Santos
Member since Jan 2008
15815 posts

re: anyone ever heard of small banks not reporting to credit bureau


quote:

ou realize what appears on one must appear on all three?


You realize you are wrong?






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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
41012 posts

re: anyone ever heard of small banks not reporting to credit bureau


Not at all.

I didn't say the three were required to be identical.

But non matching items on reports is always the best leverage to bring about changes.

And there are laws centered around corrective actions that require all three to be notified in the event of a noted information disparity.

Resulting in all three tending to gravitate to being the same.

If this wasn't the case, why is it that some major lenders still only pull one report in evaluating credit worthiness Seems pretty pointlessly risky if it were easy to "hide" debt and debt history just by the luck of the draw.




This post was edited on 6/28 at 9:14 am


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HeadyMurphey
LSU Fan
Los Santos
Member since Jan 2008
15815 posts

re: anyone ever heard of small banks not reporting to credit bureau


quote:

I didn't say the three were required to be identical.


quote:

You realize what appears on one must appear on all three?


Sure sounds like it.







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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
41012 posts

re: anyone ever heard of small banks not reporting to credit bureau


Which means, he can add the debt listing to ANY report he wishes just by putting a dispute of incomplete info with the other agencies.

they'll do the legwork of verifying it, and add it.

Way to actually think about what was said rather than kneejerk replying....






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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
41012 posts

re: anyone ever heard of small banks not reporting to credit bureau


Only if you don't understand the dispute process.....


And even if I was unclear making it easy to leap to the wrong conclusion, I subsequently clarified.







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The Mick
Michigan Fan
Member since Oct 2010
23327 posts
 Online 

re: anyone ever heard of small banks not reporting to credit bureau


quote:

You realize what appears on one must appear on all three?
Wrong. MOST of the time this is true, but not necessarily.






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LSUinWV
LSU Fan
Member since Jul 2008
777 posts

re: anyone ever heard of small banks not reporting to credit bureau


quote:

gmc serria in 2009

All else aside, you have owned this truck for how long and don't know what it is actually called?






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