The TRUTH about Clear Now - Landlord Forum thread 154316

The TRUTH about Clear Now by Anonymous on April 15, 2008 @20:39

I just took a look at their site and while it looks like a cool service, as always the fine print speaks volumes – here’s what it says about reporting to the credit bureaus:

"ClearNow currently reports ClearNow rent payment data to Pay Rent, Build Credit, Inc. (PRBC)....
We will notify you when we can report data to other bureaus such as Equifax, Experian, or TransUnion."

So they don't really report to the major bureaus. I'm better off reporting to the LPA Deadbeat Database and other national tenant reporting databases.

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Re: The TRUTH about Clear Now by Curious LL (Ca) on April 15, 2008 @21:46

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Yes, I read that too, Kevin. May still be a useful tool for some people to collect their rents though, but still use the LPA site to report on deadbeat tenants.

It's always interesting to learn of new ways to help one's business.

Re: The TRUTH about Clear Now by Debbie on April 15, 2008 @22:27

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I've known about that since day one.

I don't use that part, nor do I encourage anyone to use it. I use Clear Now for the sole purpose of collecting rent payments plus advance notice if there's no funds in tenant's account. It would save me days if I ever need to serve "pay or quit" notice.

Nevertheless, I'm glad you brought it up, Kevin. It's a good reminder why LPA Deadbeat Database or similar tenant reporting databases being a better tool.

Re: The TRUTH about Clear Now

Re: The TRUTH about Clear Now by iceman (NC) on May 16, 2012 @20:05	[ Reply ]

ClearNow can now report rental payment history to Experian. http://www.experian.com/blogs/news/2012/05/16/clearnow/

Re: The TRUTH about Clear Now by Ashley (TN) on May 26, 2016 @14:42	[ Reply ]

I understand it might not be useful when dealing with poor paying tenants, however, by reporting this to the credit bureaus you could be helping your tenants whom are good and responsible and could benefit from any and all positive scoring. I myself never built any real credit and am attempting to garner a home loan but cannot because I have no credit, which is apparently worse than bad credit. I was diagnosed with cancer in my early 20s, and was a product of the foster care system so nobody was ever there to teach me the importance of credit. I figured that as long as I paid my bills, paid cash, and didn't take out credit cards I couldn't afford I would be okay. But my friends who ran out and got ten cards and made late payments all own homes and I don't yet. My landlord has agreed to report the last 3 years of my payments on time to help me as much as possible. While it's not all the bureaus, the fact it is reported gives the under writers at the bank more wiggle room to take a chance on me. My FICO isn't horrible its just not got a long enough history and this will help. I implore you to consider this option as a motivator for those whom may wish to purchase one day and reward them for being good tenants. I have a strong rental history no evictions no lates and min of 3-4 years in each location. I careful when selecting the home I rent to avoid things like moving too soon etc. For this home I live in I had to pass a background and credit check to ensure I was not criminal and did not have any evictions or owed rent out there. I also submitted to a drug test. It was a difficult home to obtain but the screening process included two meetings/interviews with the landlords to give us a chance to ensure we would get along. Its been the perfect landlord tenant arrangement and one month after I had my second child, they gifted us a free month of rent as congratulations to allow my husband to take some time off to be with us as I was very ill after the delivery and nearly lost my life. They are amazing landlords which makes us work hard to be amazing tenants.