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Credit Report Etched In Stone - The Bills.com Blog
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Credit Report Etched In Stone
Monday, Jul 20, 2009
Question: I just checked my credit report I noticed that there was stuff still on there that I have paid off ...why?
Answer: This depends on when you last paid off your debt and when you last checked your credit report. The typical credit reporting cycle is 90 days, or quarterly. It could be that your credit report has not yet been updated. There's quite a bit of information on the Bills.com Credit Report Information page.Many of the larger banks and finance companies report updated information to the credit bureaus every month. However, some smaller financiers only report on a quarterly basis. Depending on the lender, it could take as long as several months for updated account information to appear on your credit reports.
If a particular account that you have resolved is causing
your problems with your credit score, you can dispute the listing with the credit bureaus, which can speed up the reporting process. The credit report dispute process is important to understand because credit reports are notoriously inaccurate, and creditors are often very slow to report current and accurate account information. Each of the three credit bureaus (Experian, Equifax, and TransUnion)
allow consumers to dispute credit report listing online; you can access each of the credit bureaus online through AnnualCreditReport.com, where you can also request a free copy of your report from each company.
The Federal Trade Commission also offers a guide to disputing items on your credit reports, available at FTC Credit Advice .
I hope this information helps you Find. Learn. Save.
Best,
Bill
www.bills.com/blog/
The Federal Trade Commission also offers a guide to disputing items on your credit reports, available at FTC Credit Advice .
I hope this information helps you Find. Learn. Save.
Best,
Bill
www.bills.com/blog/
Also, make sure to get a free financial health check-up with Bills IQ!
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