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Discuss Requirement to declare BHPH to credit agencies in the Finance and Insurance forum at Car Dealer Forums; Am I bound to report a car loan (BHPH style) to the major 3 credit ...
  1. #1
    Junior Member
    Join Date
    Jul 2011
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    4

    Default Requirement to declare BHPH to credit agencies

    Am I bound to report a car loan (BHPH style) to the major 3 credit reporting agencies at inception, or at any time?

    By bound, am I required by law federally, or possibly by state (I am concerned with PA and TX law)?

    If I am bound, or even if I am not bound, what is the best method to report the inception and updates for such a loan?

    Thanks ahead as always!


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  2. #2
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    Jan 2012
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    Default

    I don't think it is necessary to put on the information for the leading agencies it is a organized activity that will automatically delivered that information.

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