If you have been downloading and reviewing your Experian Metric Report® you will most likely see Fatal Errors at some point. This report is designed to help inform data furnishers of how their monthly reporting is performing. Many companies report data with critical errors and don’t even know sometimes and so we have metric reports.
Fatal Errors indicate that one or more of your consumer records have a condition preventing it from being reported(added) OR updated. So even if you are sending an account with updated information like a new balance, the credit bureau is not publishing it to the consumers credit history because of the fatal error. Fatal errors need to be corrected ASAP.
Most fatal errors are related to an FCRA compliance problem that must be resolved by your company such as a date problem where a date opened is in the future or there is a conflict between the date opened and date of first delinquency. Either way, the bureau has a good reason to stop processing the account(s) until the error is resolved on your end.
What To Do
Review the error report details for help on fixing the error, they are usually pretty good about directing you to a solution. Contact your credit bureau directly for guidance, they have to help you understand your errors.
What Not To Do
Don’t ignore the problem, it wont go away and you do not want to maintain a fatal error percentage for very long or the credit bureaus will take some form of action to bring it to your attention or help you correct the problem.
Nope, still cant fix the errors?
Contact us right away, we love to figure out strange reporting problems.