Metro 2 Credit Reporting for Collection Agencies
Report collection accounts accurately and manage disputes efficiently. Full compliance with FDCPA, FCRA, and state collection laws.
Challenges for Debt Collectors
Complex Compliance Requirements
FDCPA, FCRA, state laws, and bureau policies create a compliance minefield for collection reporting.
Original Creditor Information
Tracking and reporting original creditor details through multiple debt sales is challenging.
High Dispute Volume
Collection accounts generate more disputes than any other account type.
Medical Debt Rules
Special reporting rules for medical collections require separate handling.
How Metro2 Helps
FDCPA Compliance Built-In
Reporting workflows designed around Fair Debt Collection Practices Act requirements.
K1 Segment Automation
Automatically populate original creditor information in the K1 segment.
Dispute Management
Integrated dispute workflow tracks FCRA timelines and bureau responses.
Medical Debt Handling
Special workflows for medical debt waiting periods and credit bureau medical debt rules.
Features for Debt Collectors
1Collection Status Codes
Pre-configured status codes for all collection scenarios from placement through settlement.
2Debt Sale Tracking
K2 segment support tracks debt purchases and maintains chain of ownership.
3Paid Collection Updates
Quickly update paid or settled accounts across your portfolio.
4Time-Barred Debt Detection
Alerts for accounts approaching or past statute of limitations in each state.
Who Uses Metro2
Third-Party Collectors
Collection agencies working accounts on behalf of original creditors.
Debt Buyers
Portfolio purchasers who need to report accounts under their furnisher ID.
Healthcare Collections
Medical debt collectors following special reporting windows and rules.
Internal Collections
Companies managing their own collections before placing with agencies.
Compliance & Regulations
180-Day Medical Debt Rule
Automatic compliance with the medical debt waiting period before reporting.
Validation Period Tracking
Track the 30-day validation period and suspend reporting during disputes.
CFPB Reg F Compliance
Built-in compliance with Regulation F requirements for debt collection.
Frequently Asked Questions
When can I start reporting a collection account?
For most debts, after verifying the debt and the validation period. For medical debt, wait 180 days from the date of service. Use status code 93 (Collection Account) when first reporting.
How do I report the original creditor?
Use the K1 segment to report the original creditor name and classification code. This is required for all collection accounts.
What if the consumer disputes the debt?
Mark the account with Compliance Condition Code XB (In Dispute) and investigate within 30 days. Do not report if you cannot verify the debt.
How do I report a settled collection?
Use status code 13 (Paid/Closed) with Special Comment code AC (Account Settled) or other appropriate settlement comment. Update the balance to zero.
Related Industries
Compliant Collection Reporting
Focus on collections while we handle Metro 2 compliance.