Saturday, October 24, 2009

Does your credit report update the same day a company reports?

I negotiated a pay to delete with a collection company. They told me the date that they will report. Will it drop from my credit report that day or will it take time from the date that they tell the bureaus to delete it?

Does your credit report update the same day a company reports?
It depends on how they report. If it is with the monthly update (likely) it will take about 10-30 days from when they submit.





If they update using e-Oscar (basically for 1 account at a time) then it is within 24 hours.





I assume you got the pay for delete in writing, if so, I would send proof of the agreement and proof of payment to the credit bureau, that can speed up the process a little.
Reply:I doubt if it's the same day...I'd expect 30 days would be the time frame for updating your credit files. Remember that each of the 3 credit bureaus are independent companies...so expect varied results.....You get a gold star for doing the Pay for Delete...

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