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    2 Replies Latest reply on Aug 27, 2008 5:49 PM by Lighthouse24

    Reporting employment to credit bureaus

    Matthew Wayfarer

      I need assistance/guidance on how to go about reporting a new employment to a credit agency. I left my previous job in April, and formed a "C" corporation. So basically I am employed by such, but cash flow wont be seen for a few more months while the business is being built. I have not paid myself and am keeping things alive through personal loans to the company for capital. How do I go about informing the credit bureaus that April would be the start date? I dont want to have to explain any "gaps" in reporting when having my credit report checked in the future.
        • Re: Reporting employment to credit bureaus
          LUCKIEST Guide
          Reporting employment,

          Not sure I understand your question. You had salary income for the first few months of this year.
          Why do you NEED to Report employment income??

          If you are paying your bills TIMELY, your credit history will stay good. Credit agency do not care
          about your month to month income even when applying for a new card.

          Am I missing something, LUCKIEST
          • Re: Reporting employment to credit bureaus
            Lighthouse24 Ranger

            I'm not sure I understand either. Credit bureaus get their info from client (reporting) companies like banks and retailers, not from individuals. So a change in employers should not directly cause any changes to your personal credit rating. Changes in your personal payment or borrowing patterns with entities that report to credit bureaus could, however. In other words, a "gap" in income probably wouldn't matter if it didn't affect your borrowing, payment, or spending practices -- but if lack of income created a "gap" in paying your telephone or utility bills on time, or if you suddenly ran up high credit card balances, then your rating could be impacted. Does that make sense and answer your question? If not, feel free to elaborate.