All Forum Posts by: Rick S.

@Dustin Beam what about the tradelines, are there any with late payments listed?  If there were collections and late payments on the tradelines that may indicate an issue.

@Mike S. while the new changes will allow same-day debits and credits, from what I understand it won't change the time frame that a payment can be rejected by a bank.  We typically see three business days for a payment to be rejected by a bank.  Unless this changes payment processors may still take three business days to deposit so they know the funds cleared.  

It is good to see some changes, however the ACH system is still very inefficient unfortunately.  

@Jason Cunningham request the Additional Interest, not Additional Insured, per this information:

https://www.effectivecoverage.com/800/additional-i...

@Jingru Sui talk to a local real estate lawyer as they will help with the process. Please keep in mind your bank will not likely allow the mortgage to be changed to the LLC name, however you can still transfer the title but be aware of the due-on-sale clause. I would also recommend looking into an umbrella policy if you haven't already as we did both, the umbrella and title transfer, on our most recent rental.

Hi Jennifer,

The merchant account is only required if you want to allow debit and credit cards. The set-up fee and minimum does not apply for our ACH processing. Thanks! 

 Omar, make sure the software has an option to block all payments during an eviction and/or block partial payments.  Depending on your area, accepting partial payments may cause the eviction to be dismissed.  

@Filip Vaco the TransUnion SmartMove screening is the one BP recommends as you can go to the Tools section for the link.  Hope this helps!

@Terry P. I'm not familiar with someone filing bankruptcy due to identity theft, however was there a Consumer Statement on her credit report that detailed the identify theft issue?  Sometimes when people have identity theft they will enter a statement that is included with the report so people know why certain tradelines and other items are listed on the report.  

@Warren T. we work with TransUnion so we have a document regarding the recommendation if this helps:  https://support.erentpayment.com/kb/a136/how-is-th...

Keep in mind the recommendation won't be changed to Decline based on just one tradeline, such as the outstanding student loan.  Also, not sure if this applies but I know with some student loans you can apply for a deferment or forbearance to delay having to make payments or reduce the amount.  I think that would appear on the report though in the remarks or status.  

Let me know if you have any questions.

Thanks @Colleen F. !