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Handling Customer Inquiries on Credit Reporting

Handling Customer Inquiries on Credit Reporting

Owned by Rafael Gonzalez
Last updated: Oct 30, 2024
2 min read

Background: We are implementing a new approach to credit reporting for PPAs and RICs, which will affect how obligations are reflected on customers' credit reports. This may increase customer inquiries as they notice adjustments in their credit information.

As a result, it is essential to provide clear and consistent information to address customer questions and concerns.

Starting November 2024, credit reporting for PPA’s and RIC’s will be managed differently to more accurately reflect each customer’s financial obligations. This approach helps ensure customer’s credit reports show a clear picture of their monthly obligations, especially for PPA Agreements

For PPA’s:

  • Only the Monthly Payment amount and Any Past-due balance will be reported on the customer’s credit report

  • This change aligns with typical utility bill reporting practices so customers will see only their monthly commitment reflected

This new approach makes things simpler for customers by only showing what they owe each month instead of the full balance of the contract

For RIC’s:

  • The full contract balance will be reported as the customer’s obigation

  • Explain that this is standard for RIC’s and reflects the total outstanding amount under the agreement

Additional Notes:

If a customer calls with concerns about how their PPA agreement affects their credit , reassure them that only the monthly obligation (Plus any Past-Due amounts) is being reported

  • This approach prevents the full contract value from appearing as debt on their credit report

If customer express concerns about credit reporting, Emphasize that this change offers a clear representation of their monthly responsability, which may positively impact their credit report