I am not an expert on bank fraud or fraudulent credit reporting, but this seems a little "hoakey" to me.  I doubt that anyone could do anything to the consumer if Ashley is automatically doing that with all cash buyers, but if the consumer has to request this to be reported in this fashion they could be opening themselves up to a fraud case.  Granted I do not this for sure, but it does not seem right to me. 

Todd   They do that upon request.  They have been doing it for years.  They are a pretty big company and I don't think they would set themselves up like that.

J.

Jeff, if that is really how it works.. what an awesome way for a person to boost their scores.. I recently read where the company that creates the FICO scorecard is upping the ante and it will be tougher to get a good score.. also,  i like the blog gadget on your sidebar.. way cool

Gail  Thanks.   The widget is pretty easy to get.  Just click on the bottom of mine.

J.

Jeff, that certainly is an interesting approach.  I, too, had as a first thought, "Is this kosher?"

Patricia   I thought the same thing.  You can put almost anything on your credit report.  Getting it off your report is a whole other process.

J.

Interesting...I must do my research.

Thanks Jeff! 

Tara   Let me know what you find out.

J.

I would be interested to learn more about this too.  I agree that it does sound a little fishy. 

Ginger I hope it isn't as I had a client do this and I have been telling people for a while now.

I can tell you this without a doubt. This is inaccurate reporting, completly illegal, and is against federal law. I have been in the credit business for awhile and some of the people I work with have been employees of the largest reporting agency for years. It is against the law. If you do your homework you will find this to be true! Be careful.

Darrel  thanks for the update.  I didn't know if it was or wasn't.

J.