Understanding the relationship between financial institutions especially credit lenders and credit bureaus is IMPORTANT. The CB’s are just reporters and compilers of credit information given to them by the CL’s. Let’s assume the CL is a bank.

When you’re paying off a loan at the bank and you miss a payment or pay late (breaching the credit agreement) the bank’s system will FLAG you. This will be reported to the CB and their systems will note it on your report and essentially your credit score takes a knock

Banks have many customers. That’s why they use the system. This is why we say when you make a payment arrangement ensure that it’s on email because the consultant needs to note it in the system so that it’s also noted at the CB that a late or lower payment arrangement is made