BILL'S 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.
See the Federal Trade Commission document FTC Facts for Consumers: How to Dispute Credit Report Errors for more information.
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Bill
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