Reporting to Credit Bureaus Clause Samples
The 'Reporting to Credit Bureaus' clause outlines the lender's right or obligation to share information about the borrower's account and payment history with credit reporting agencies. In practice, this means that timely payments, missed payments, defaults, or other account activities may be reported and reflected on the borrower's credit report. This clause serves to inform borrowers that their financial behavior under the agreement can impact their credit score, thereby encouraging responsible repayment and providing transparency about the consequences of their actions.
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Reporting to Credit Bureaus. Seller will report the Accounts to the appropriate credit reporting agencies as sold/transferred. Except as required by law, Seller shall have no further obligation with respect to credit reporting.
Reporting to Credit Bureaus. Promptly following Closing, Seller shall cause Servicer to report the Accounts to the appropriate credit reporting agencies as having been sold/transferred. Except as required by law, Seller shall have no further obligation with respect to credit reporting with respect to the Accounts after Closing is consummated hereunder.
ARTICLE V RESERVED
Reporting to Credit Bureaus. We may share Your Information (but expressly excluding Personal Information) with credit bureaus, consumer reporting agencies, and card associations. Late payments, missed payments, or other defaults on your account may be reflected in your credit report and consumer report. We may also share your information with other companies, lawyers, credit bureaus, agents, government agencies, and card associations in connection with issues related to fraud, credit, or debt collection.
Reporting to Credit Bureaus. Guarantor authorizes Bank to verify or check any information given by Guarantor to Bank, check Guarantor's credit references, verify employment, and obtain credit reports. Guarantor shall provide such financial statements and other financial information about Guarantor as Bank may request from time to time. Guarantor agrees that Bank shall have the right at all times to disclose and report to credit reporting agencies and credit rating agencies such information pertaining to the Indebtedness and/or Guarantor as is consistent with Bank's policies and practices from time to time in effect. Guarantor acknowledges and agrees that the authorizations provided in this paragraph apply to any individual general partner of Guarantor and to Guarantor's spouse and any such general partner's spouse if Guarantor or such general partner is married and lives in a community property state.
Reporting to Credit Bureaus. Lender may report information concerning my account and/or transactions with Lender to credit bureaus. Late payments, missed payments or other defaults on my account may be reflected in my credit report.
Reporting to Credit Bureaus. Seller and Purchaser shall jointly assume responsibility for reporting the sale of the Accounts to the relevant credit bureaus.