Tag credit reports

Constellation Auto BHPH Software

The Consumer Financial Protection Bureau released two bulletins last week that may affect your Buy Here – Pay Here dealership and the way you collect your money. Debt collection is one of the most active areas at the CFPB right now. As of July 10, 2013, they are now accepting complaints from consumers regarding debt collection. They have also published a series of 5 letters that consumers are encouraged to

Constellation Auto BHPH Software

by Steve Toporoff June 12, 2013 – 11:01am Are you a creditor?  Are you covered by the Red Flags Rule, a regulation designed to help businesses spot the signs — or “red flags” — of identity theft?  Do you know how to tell? While everyone should secure any personal information they maintain about their customers, the Red Flags Rule goes a step further by requiring businesses and organizations covered by the regulation to be

Constellation Auto BHPH Software

Buy Here – Pay Here operators across the country have been debating over the last few years whether to embrace the latest innovations in technology or to stick with the traditional way of operating their businesses. It has been almost 15 years since the first payment protection devices hit the market. Since then, new technologies that can be adapted to BHPH seem to appear almost weekly. There is GPS, auto

Constellation Auto BHPH Software

Many BHPH dealerships never pulled credit reports in the past. Their philosophy was, “My customers all have bad credit. I don’t need to pay for a report to tell me that.” That philosophy has been changing over the past few years and obtaining a report on all prospective customers is a “best practice” that should be adopted by all BHPH dealers. You need to obtain credit reports on your prospective

Constellation Auto BHPH Software

From the FTC Business Center Blog By Tony Rodriguez and Jessica Lyon January 10, 2013 – 2:00pm Just saying you’re not a consumer reporting agency isn’t enough You know that phrase “If it quacks like a duck. . . “?  It’s applicable in the Fair Credit Reporting Act context, too.  If a company meets the legal definition of a “consumer reporting agency,” it’s a consumer reporting agency.  Including a disclaimer