For information about Jefferson Capital Systems, LLC (“JCap”) and credit bureau reporting, please select one of the following:
After we acquire an account, we wait at least 90 days before we begin reporting to the credit bureaus.
However, we will not begin reporting on an account that meets both of the following criteria:
JCap automatically provides updated account information to the credit bureaus every two weeks, on the second and fourth Fridays of each month.
We are required to stop reporting on an account and to delete our tradeline within seven years of the delinquency date.
We also stop reporting and will request that the credit bureaus delete our tradeline on any account that is paid in full or paid in full for less than the full balance. Our request to delete the tradeline will occur approximately 30 days after your final payment is posted.
If you see our tradeline on your credit report, it is because we have acquired your account.
The credit bureaus do not require us to contact an account holder before we begin reporting account information. However, after we acquire an account we do wait at least 90 days before we start credit reporting.
The credit bureaus require us to report the date we acquire the account as the “Open Date”. Please know, however, that this “Open Date” does not affect how long our tradeline may appear on your credit report. Please see “When does JCap stop reporting to the credit bureaus” for additional information concerning how long our tradeline might appear on your credit report.
Some creditors may choose to report an account as “sold/transferred” even though we have acquired it and also started reporting on it.
Because each credit bureau determines your credit score, we do not know how a payment might impact your credit score.