Source: U.S. Newswire - Modified by Dan Perkins

On October 3, 2005, the National Credit Reporting Association (NCRA), a national trade organization of consumer reporting agencies that provide products and services to hundreds of thousands of credit grantors, announced that it had enter into an agreement with PRBC^R, a national consumer reporting agency, to help consumers build a credit history based on their payment of recurring bills.

Traditional credit histories are based on balances and payment histories an individual establishes through the use of credit cards, lines of credit and bank loans.  However, for individuals who do not use the services of a bank, savings and loans, or credit union, establishing a documented credit history can be difficult.

The agreement between the NCRA and PRBC gives NCRA's national network of members an exclusive opportunity to work with PRBC to verify historical housing and recurring bill payment histories.  Where possible, this data will be added to information contained in traditional credit reports to provide a more complete picture of the individual’s financial transactions.

"It is estimated that more than 70 million Americans make rent, mortgage, and other recurring bill payments that are not reported to traditional credit bureaus. As a result these consumers often have lower credit scores than they should, and pay more for housing, credit, and insurance than they deserve", said Terry Clemans, executive director of NCRA. "I am optimistic that through NCRA's partnership with PRBC, we can help millions of formerly overlooked consumers to build their credit history and provide them with an opportunity for equal participation in the mainstream economy."

"PRBC is very pleased to partner with NCRA and its Membership because of their professionalism, code of ethics, and especially because of their recognized expertise in verifying consumer credit histories and reporting to millions of users of traditional credit reports, said PRBC Chairman and CEO, Michael Nathans. "I am optimistic that this historic partnership will provide an equal opportunity for millions of consumers who have low- or no-traditional credit scores to demonstrate their creditworthiness with the commonly recurring bills they pay, and to secure their financial futures."

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