Ch 4 K2 Segment Overview

The video provides an overview of the K2 Segment from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, assisting readers in using Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). The K2 Segment details whether an account was purchased from a prior creditor or sold to a subsequent debt collector, reporting the name of the company involved in the transaction. It is used only once per record to reflect a change, with a limit of one K2 Segment appended to the Base Segment.

This ensures clarity on account ownership; errors like multiple K2 Segments, missing purchase/sale data, or incorrect company names can be disputed as violations of Metro 2’s standard, providing grounds for dispute letters to CRAs to correct inaccuracies.