Account not Reporting on Equifax?

[Anonymous]

I have an auto loan that is not reporting to Equifax. It only reports to Experian and TU. A loan officer once told me that if you have an account that does not report to a credit bureau you can write the bureau asking them to adf the account giving them as much info as possible. They said the bureau would verify the information and then add it. Is this true or has anyone had any luck doing this. I am preparing a letter to Equifax to try to have the account added. I looked at my other accounts for all the info that is reported and am giving Equifax every detail that is provided on credit reports so the details wont be a problem but will they verify and report this account or simply discard my letter?

[Anonymous]

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@Anonymous wrote:

I have an auto loan that is not reporting to Equifax. It only reports to Experian and TU. A loan officer once told me that if you have an account that does not report to a credit bureau you can write the bureau asking them to adf the account giving them as much info as possible. They said the bureau would verify the information and then add it. Is this true or has anyone had any luck doing this. I am preparing a letter to Equifax to try to have the account added. I looked at my other accounts for all the info that is reported and am giving Equifax every detail that is provided on credit reports so the details wont be a problem but will they verify and report this account or simply discard my letter?

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Hi,

It is my understanding that the CRBs only report what is reported to them. It is up to the OC to report your payment history to the CRB. I would first check with the creditor and ask specifically if they report to EQ. Not every creditor reports to all CRBs.

Hang in there!

[Anonymous]

Thats what I am afraid of I called the creditor and they wont report to Equifax. I went ahead and typed a letter to Equifax and gave them all of the account information and asked that they verify and ad it. We will see. If not my only loss is a stamp and envelope. Maybe I will get lucky. The fact that the car loan is reporting to TU and EX is still good though that will boost my score on two of the three in a year or two I will just make sure next time I get an auto loan they report to all three before I sign the papers. I will just find one that checks TU or EXP for the next one so I can get a lower rate.

[iDShaDoW]

Good luck, if you could update us on what happens when you hear more from Equifax it'd be appreciated.

I've had issues with them and my BoA account for awhile now that I've been trying to get resolved but no luck yet.

An Equifax Public Relations person replied to one of my posts here saying she might be able to help and I e-mailed her but it's been over a week and no response so I'm not sure if that's going anywhere.  Might have to try to send her another e-mail.

Last time I spoke to a BoA rep they said they filled out some sort of form and sent it to Equifax and that I should wait a bit so here's hoping they get something done.  Took me a lot of repeat calls with no action on their part until the last one.

[RobertEG]

No creditor ever has any obligation to ever report to any CRA. No CRA will care a wit about respondiing to any ;letter relating to a creditor who has not reported to them.

Equifax, or any CRA, has no authority to add an account to your CR that is not first reported by the creditor. 

They are a repository of information reported by creditors.  Nothing more.

[Anonymous]

IDshadow I doubt I will get anything out of this but if I get a response no matter which way it goes I will post it.

And Robery I know they arent obligated. I talked to the lender and they dont report but she said if Equifax asked she would verify it. I know it is a longshot but at the cost of a stamp and envelope I figure its worth a shot. But as said I am not counting on anything.

[Raziel77]

Hi, I was wondering, why are you interested in reporting the creditor to EQ?

for me, i really wish no one reports me to any bureau!!

I thought if a loan "which is considered a new credit" is reported , then this means your score will go down !!

right ?

[Lel]

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Raziel77 wrote:

Hi, I was wondering, why are you interested in reporting the creditor to EQ?

for me, i really wish no one reports me to any bureau!!

I thought if a loan "which is considered a new credit" is reported , then this means your score will go down !!

right ?

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An account in good standing, especially one that adds to one's mix of credit (in this case, an auto loan) will eventually have a net positive effect on one's score.  Yes, in the first year, there may be a hit to your score due to the new account, decrease in average account age, and the inquiry that went along with the loan application.

The OP doesn't specify whether this auto loan is actually a new account.  If it is a couple years old, even if it suddenly appears on EQ (if he can get the creditor to start reporting, which may not be possible), it won't be "new".  The date that the account was opened will be reflected on the credit report.  The payment history may not be included, but if the OP was current, then at least there won't be any negative information on the account.

[Anonymous]

I am thinking I was given bad information from a lender but my reasoning for wanting this to report is for the good account. It was opened in August 2009 so definately new and I would definately take a point hit. However I am in college and have no deisre to buy a home until after I complete college and get settled into a career. I figure this to be 3-5 years down the road. I have no other financing "needs" now and this car is my wifes. We want to replace mine at tax time 2011 so I would like to get the payment history on this account to boost my Auto Enhanced score as well as ad good payment history for the future mortgage. Just trying to do what will put me in the best situation in the next 3-5 years as thats when all of my baddies will start falling off also. But at least it is on TU and EX so the home lenders use middle score usually and with it on two out of three I should be able to get a better auto rate on the next one still just thought if it could be easily added then why not go for it? Maybe that paints the picture a little better.