Research Why Loan Account Not on Credit Report

These steps explain how to investigate why a member's/cosigner's loan account updates are not reflected on their credit report.

Check Credit Bureau Report for Errors

Check the Credit Bureau Reporting report, accessible by launching Tool #658 Print Account Info Sent to Credit Bureau, for errors. While viewing the report, if you answer yes to any of the questions below, then you have identified why the member's/cosigner's loan account updates are not reflected on their credit report. (Note: Questions apply to both the member and cosigner, if applicable.)

  1. Was the loan account included in the file sent to the bureau?

    1. The loan account is defined by METRO 2 as the J1 segment or J2 segment.

  2. Does the individual's name or address contain any special characters besides a hyphen?

    • Special characters not permitted include /()$&@!#%^*+=_\|~<>€£¥.

  3. If the member has two cosigners, do both cosigners share the member's address?

    • The bureau allows for only one cosigner to have the same address as the member. If there are two cosigners with the same address as the member, only one is reported.

  4. Does the individual have a foreign address?

    • Loan accounts with foreign addresses do not get reported.

  5. Is the individual under 18?

    • Accounts belonging to minors do not get reported.

  6. Was there an error in a bureau reporting code?

    • Reporting codes include purpose, security, and ECOA.

  7. Did you send the report within the last 15 days?

    • It can take up to 15 days for the report to be updated at the bureau once the file is remitted.

  8. Did you use a combination of comment and status codes that the credit bureau restricts?

If You Cannot Identify the Error

  1. If you answered no to all of the above 8 questions, the next step is to contact a CU*Answers Client Service Representative to see why the updated loan record was not applied.

  2. If the Client Service Representative is not able to help you identify the cause of the issue, contact the credit bureau directly for assistance in troubleshooting the issue.

After the Error Has Been Identified

  1. Once you have identified the error and resolved the issue, make the appropriate correction in CBX.

  2. Also make the correction through E-Oscar. When doing so, ensure that you address the error within the regulatory time frame.