General Questions

How do I transfer/import or convert my existing accounting files directly into Credit Time 2000© Metro 2® Format?

Currently, we do not offer our client(s) an import option within Credit Time 2000©. We simple do not believe mapping data fields by inexperience users’ who are not familiar with all of credit bureau’s different types of reporting formats by industry and requirements will only result in not reporting your credit account’s truly accurately. Such a high degree of incorrect information on consumers’ credit files (due to import defaults) will cause more work for the credit bureaus and your company in correcting errors and handling consumers’ disputes. The Metro 2® format has a massive number of required data fields for complying to the 1996 Fair Credit Reporting Act. The majority of most accounting software systems do not have all of these required Metro 2® format fields or assigned credit bureaus reporting codes. The Metro 2® Credit Format has special assigned credit bureau codes, including special comment field, bankruptcy codes field, and payment rating history codes field that are only used only by the credit industry for displaying correct information on a consumers’ credit file.

Credit bureau aging rules for aging account ratings are often different from most in-house accounts receivable packages. For consumer reporting purposes, an account is not deemed to be delinquent until 30 days past the due date. An example would be importing from auto dealer’s loan management software system, QuickBooks, or any loan finance software where an account is deemed delinquent one day past the due date. Thus the question, “How are you going to automate the correct ratings of your account status when the correct credit bureaus status during your mapping of your data fields selection to the Metro 2® format when the account aging is so different?” You should direct the question to any Metro 2® credit reporting software vendor(s) that allow importing to the Metro 2® option or that are performing data conversions to the Metro 2® format the following questions:

a) How does your software system handle the aging issue problem or any of the standard missing required Metro 2® fields?

b) How does your system handle missing required credit defined codes not available on our files? Such as bankruptcies, special comments, consumer compliance indicator’s missing from our system? – Please ask the vendor if you are required to manually update each and every account for these each month for each account you are reporting?

c) Does your Metro 2® import function assign default codes for many of the credit bureau required codes for every record even when each account is unique in it’s biographic origin and detail terms under contract agreement to your office?

d) How are you going to know when you perform updates or changes to your credit reporting file for the consumer’s name, address, social security number or a combination of those fields or a change to your account existing numbers that are being reported to the credit bureaus (which notifies each bureaus of the areas that must be corrected)? A conversion or import software product can not offer your office these required reporting features.

It is very simple, importing or conversions can not possibly perform accurately without you providing required formatted fields of the entire Metro 2® FCRA guidelines in either an ASCII or data base format that will match all of the required fields of the Metro 2® format before you begin importing. Then once imported or converted, how much time for each account will be required to correct all the issues that were not addressed from the conversion or importation of your account data?

You must make an informed decision to weigh all avenues to what would be the most beneficial to your office, your staff hours and your liability. Does the imported file into Metro 2® format meet the new federal consumer credit laws (FACTA and FCRA ) requirements?

If you are required to do all the steps for importing or conversion with follow up for each account, why not write or program the Metro 2® format? Or you may wisely select the option of leasing or purchasing the Metro 2® credit reporting software. We believe reporting consumers’ accurate and complete information should be a priority for reporting a consumers’ credit history. We have built our 28 year reputation and experience in the credit reporting industry into our Credit Time 2000© Metro 2 credit reporting software package to provide the best and most accurate Metro 2® reporting software on the market.

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Our Credit Time 2000® Metro 2® Credit Reporting Software allows any businesses to report consumer credit accounts and business commercial accounts to all of the national credit bureaus - Equifax, Experian, Innovis and Trans Union. We also support Metro 2® Credit Reporting to real-time credit bureaus with national coverage of alternative credit data. Our software is thoroughly tested and produces to the most error free files in the industry. Credit Time 2000® is recommended and accepted by all the National and Alternative Credit Bureaus.

COMSUMER DATA INDUSTRY ASSOCIATION®, CDIA®, the CREDIT REPORTING RESOURCE GUIDE®, and METRO 2®, are registered trademarks or trademarks of the Consumer Data Industry Association in the United States and or other countries. Neither Hutchins Systems Inc. nor is products or services are affiliated with or endorse by the Consumer Data Industry Association or CDIA.