Does a private party used car lot have to report your payments to the credit bureau?

Get Legal Help Today

 Secured with SHA-256 Encryption

Does a private party used car lot have to report your payments to the credit bureau?

Asked on April 11, 2012 under General Practice, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

No, there is no law obligating creditors, whether "private parties" or large, publically traded companies, to notify credit rating bureaus of your payments or defaults. A creditor may refrain from notifying the bureaus or agencies about your transactions, but if it has notified them, but it needs to provide complete and accurate information--it may not report partially, incomplete, or innaccurate information about your credit. So it can refrain from reporting entirely, but once it does report, must do so correctly.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption