Check whether a missed payment may appear on a consumer report
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Record the date the payment was due, the date of the first delinquency, and whether the account was later placed for collection or charged off. Do not build an Australian-style month-by-month repayment-history grid.
- What the lawyer must review
- The United States sources opened here do not create a separate repayment-history information category. The CFPB page says credit reporting companies can generally report negative information about credit-account payment history for up to seven years, and may report positive on-time history for longer, including after the account is closed. 15 U.S.C. § 1681c(a)(5) excludes any other adverse item of information, other than records of convictions of crimes, once it antedates the report by more than seven years, subject to the higher-value credit, insurance, and employment exceptions in subsection (b). A missed payment is handled under that adverse-information limit, not under a national month-by-month code.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Do not begin AI assistance until the responsible lawyer has defined and confirmed its permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.