mobileStorm is a data base marketing company that provides a platfrom from which e-mail, text-mail, printed, fax and voice calles are created and delivered. Our product is purchased with a credit card via the web and is a monthly charge bound by contract. If a contract is broken (credit card is declined/cancelled) we would like to report this bad debt to a credit agency.
How can a merchant effect a consumer%26#039;s credit report for a bad debt?
You would have to pay the credit bureaus to report on them. I can%26#039;t say how much they charge, but if you find the price more than you want to pay you may think about assigning the debt or selling it.
Also, if you plan on reporting you should become very familiar with the FCRA. If you make a mistake in how/what you report, it could open you up to being sued and cost you big.
How can a merchant effect a consumer%26#039;s credit report for a bad debt?
it would be the same as breaking a lease, if a contract was involved, then the party is responsible for the remaining balance of that contract, you either eat the loss or send them the countless number of request for paymnet and turn it over to collections and report them to the big 3.
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