How does an individual report to a credit agency.?

Question

I'm buying my house and land from an individual who is carrying the note for me so no bank or finance company is involved. So far I have made 39 payments without any problems, always paid early, never even one day late. Is there any way an individual can report good credit habits to a credit reporting agency?

Thanks In Advance,,,
JP

It is all 100% legal, every payment is made by personal check, no "under the table" transactions happening.

Bdancer, you're the bomb, that link has it all... THANKS

Answer 1

Check here: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm

You can add to your report but there is fee. It also won't be updated.

Answer 2

You can write to the 3 credit reporting companies and ask if they will post your comments in your credit file. Go to annualcreditreport.com and order your reports (free once a year). They will give you directions on contacting them. Private payments aren't reported, but if a bank or title company collects the payments for the note holder, they might report it. Either you or the note holder would have to pay them a fee for the service though. Since this was a private transaction, the IRS may not be aware of the sale, or the interest (which is income) the seller is receiving. If the holder of the note isn't reporting the income, they will not want you to do any of that because it will become public record and they could have the IRS on their case.

Answer 3

No, it would not artwork that way because your buddy isn't a monetary employer for one...and the monetary employer isn't your acquaintances' buddy. the way it extremely works is that once you pay or do no longer pay your funds this concepts is given to the bureau and that is what is going on your report. On a personal be conscious(s), such issues as those do no longer exist. there is no way around the credit gadget so some distance as how concepts is declared to credit bureaus(agencies) I propose, getting a secured card to re-set up your credit status, and when they construct trust in you back, they'll convert that card right into a classic card and go back the money.