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 What to look for in a 3rd party processor

A 3rd party processor which is used for "stacking accounts" and forwarding the "stacked" accounts to the credit bureaus should provide the following services.

• Must be approved to report your accounts to the National Credit Bureaus which you have specified.
• Complete, up-to-date FCRA/ECOA/FCBA/FDCPA compliance checking on all submitted accounts.
• Timely, scheduled, secure, forwarding of accounts to the credit bureaus.
• Must receive secure, electronic transmission, or be able to read the type of media (disk, tape) which you are submitting.
• Accounts should be securely archived by the processor for re-submission (if necessary).

Please note: Reporting directly to the credit bureaus or through a 3rd party processor does not guarantee the credit reporting agencies will accept your accounts. If the accounts have missing or incorrect data, and/or contain compliance errors, chances are, the bureaus will bypass that account. If your file contains excessive errors, the entire file may be bypassed.

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