Can I file a negative report on someone's credit for non payment?

Question

Someone owes me several thousand dollars, is there a way to report it to credit bureaus in the same manner any finance company would?

Answer 1

Assuming you have some kind of written contract. You can take them to court and sue them for the amount. The judge will issue a judgement against that person and that will show on their credit.  

Answer 2

only if it is a formal contract, if it is a personal agreement then it is unlikely but you may be able to get legal advice . however if you have no written proof it is very unlikely anyone can enforce the money be paid to you.  As without a formal agreement it could be argued that the money was a gift.

Good Luck

Answer 3

If you have a signed contract with the person and in the contract it stipulates the following information, then you can report them, if not, then all you can do to get it on their credit report is to file a small claims action and if he fails to show or prove his case, then it will show up on his credit report.

The Truth in Lending Act and the Uniformed Commercial Code (UCC) requires any credit contract to come with a full disclosure statement that clearly spells out the terms of the contract. Many states also have consumer laws that speak to full disclosure.

Look at your credit disclosure statement for words similar to these:

"If I fail to pay the amount that you think I owe, you may report me as delinquent and send the account for collection action."

Since you agreed to credit terms that included the above statement, most creditors send monthly statements with an "amount due" highlighted somehow. When your account is delinquent, and your regular statement shows the past due amount, consider yourself notified!

Many creditors, as a courtesy, send a reminder or two of the past due debt and include a note that says the account will be sent to collections if you do not pay by a certain date.

Bottom line: Creditors do NOT always have to send a separate notice or call you before sending a delinquent account to collections.

This includes co-signed credit contracts as well. If the primary borrower defaults, the account can be immediately sent to collections without notifying the co-signer. An exception to this would be if the disclosure statement calls for the creditor to notify the co-signer.

If you plan to co-sign for a loan, make sure the terms of agreement include notifying you before the account is sent to collections.

Hope this answers your question

Answer 4

If you have a written contract and can show they have not paid you then you can report it to the credit bureaus. You have to send a copy of the contract the person's full name and social security number.

If they just borrowed money and no contract then no you cannot.

Answer 5

Take them to small claims court.  You have a good chance of getting your money back.