Investor · San Diego, CA · Member since 2012 · 309 posts · 18 votes
Hello,
Is there a way to report tenant's debt to all 3 credit bureaus WITHOUT turning his debt to a collection company?
I contacted mrlandlord.com and rentrecoveryservice.com and they will report to all 3 credit bureaus, but I will have to sign a contract with them that will entitle them to 40% of collected debt which I don't want to do.
Fort Collins, CO · Member since 2014 · 397 posts · 161 votes
10y
Hi @Edita D. we looked into this recently for our service and we were told by one of the bureaus that to only report a delinquent payment it would be considered a collection report handled through a collection company.
Sorry as that isn't much help but maybe someone on BP knows a collection company that allows for just reporting for a fee.
Fort Collins, CO · Member since 2014 · 397 posts · 161 votes
10y
Hi @Edita D. I just found this post https://www.biggerpockets.com/forums/52/topics/345229-collection-agencies-for-ex-tenants-unpaid-rent and they mentioned rentrecoveryservice.com also but it appears they offer the flat fee option without a commission or % of the collected debt so that be your best option unless I read their site wrong.
Like @Rick S. mentioned, rentrecoveryservice.com offers a flat fee option that should work for you. Unlike the contingency type collection option that charges a percentage of any amount collected, you could use their flat fee option that charges a one-time fee of only $16.95 which covers a demand letter to the debtor/tenant (instructing them to pay you directly) and reporting of the debt to all three credit bureaus.