What does it cost to pull a credit report?
See full pricing details on this page: Credit Report Pricing
Are credit report pulls hard or soft inquiries?
Xactus has confirmed that bankruptcy credit report pulls post as soft inquiries.
When signing up for the integration, the credit check on the principal is a soft pull through Equifax.
Why does NextChapter ask for the principal's SSN and business bank information?
All information collected during the setup process is submitted to Xactus and is required by the credit bureaus as part of their initial vetting process.
The application requires the principal’s name, home address, and SSN, along with the bank name, branch, and account number for the business bank reference. NextChapter does not save the SSN. It is only used for the Credit Report Integration setup.
Note that the system does not accept a checking account number and routing number directly. If paying by checking account, you will need to provide the 16-digit debit card number and expiration date instead.
Can I set up the integration without having my personal credit pulled?
The application requires the principal’s SSN, and Xactus runs a soft credit check on the principal through Equifax as part of setup.
What is the business reference section asking for?
This section is asking for a reference from another business that can speak to your firm's payment history. This could be a third-party vendor, courier service, internet provider, bank, or any utility bill in the firm's name.
Can I set up the integration if I work out of a shared office space?
Generally yes, but there are specific requirements. There must be a locking door separating your workspace from anyone else sharing the space, along with visible signage, a shredder, and locking file cabinets.
What happens during the onsite inspection?
An inspector will visit at a pre-scheduled time that works for you. During the inspection they will verify and photograph the following:
Signage on the outside and inside of the building (must be permanent, not paper taped to a door)
Whether the space is shared and whether there is a separate locking door
Locking file cabinets or locking desk drawers
A shredder or shredding bin
PC equipment, any on-site servers, and security equipment
They will also confirm a series of compliance questions during the visit.
Inspection costs: Residential office inspections are $150. Commercial office inspections are $75. More information in this article: Credit Report Onsite Visit
What are the requirements for a home office setup?
Residential setups are permitted but are limited to TransUnion only. Experian and Equifax do not allow residential configurations.
Requirements include a separate room with a locking door from the rest of the living quarters. Signage is not required for residential setups. A physical inspection will still be conducted, and photos will be taken of the locking door, shredder, locking file cabinets, and workstation.
Annual onsite inspections are required for residential office locations. For more information on residential set-ups, see this article: Residential Office Credit Report Integration
What happens if I haven't pulled a report in a long time?
If a report has not been pulled in six months, Xactus will re-vet the firm on their end but does not require a new application.
If a report has not been pulled in one year or longer, Xactus treats the account as new, regardless of whether the firm has moved. This requires both an updated Credit Report Integration application and a new onsite inspection.
Who do I contact with questions or issues?
For general Xactus support: nextchapter@xactus.com
For billing questions: xactusbilling@xactus.com (800) 258-3488 Ext. 1403