Ch 4 K2 Segment Fields 1 - 4

The video summarizes the K2 Segment Fields #1 through #4 from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, guiding readers on using Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). The K2 Segment includes four fields: Field #1 (segment identifier, "K2"), Field #2 (purchased from/to indicator, specifying if the account was purchased from a creditor, sold to a creditor, or previously reported data is being removed), Field #3 (purchased from/sold to name, listing the actual company—creditor or debt collector—involved), and Field #4 (reserved).

These fields track account ownership changes; errors such as an incorrect indicator (e.g., "purchased" instead of "sold"), a wrong or missing company name, or multiple K2 entries (despite the one-per-record rule) can be flagged as inconsistencies with Metro 2’s standard. These discrepancies provide a clear basis for dispute letters to CRAs, leveraging the format’s rules to ensure accurate reporting.