![]() A change in jobs can cause a lapse in payments. It is important for parents to pay their child support in full each month to avoid credit bureau reporting. The information can remain on a parent's report for up to seven years. Credit reporting agencies record this information on a parent's credit report. The division continues reporting information to credit bureaus until the parent pays the arrears in full or the case closes. ![]() The division's report to credit bureaus must include the amount of arrears, the age of the arrears as expressed as days past due, and information on payment history. A case with an arrears balance is considered past due, even if the parent is making payments. The division and county agencies refer each case individually for parents with more than one case. If they do not or cannot pay their support in full each month, the support they do not pay becomes arrears. Parents must pay their child support in full each month. According to CDIA standards, child support arrears are NOT the same as other debts, like a car loan or a home mortgage with a payment schedule. The division must follow Consumer Data Industry Association (CDIA) standards when reporting parents to the credit bureaus. For arrears-only cases, the amount of arrears is at least $500.For cases with monthly support obligations, the parent owes arrears equal to or at least three times the monthly support obligation and at least $500. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |