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Aparker70

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How can I get my accounts updated?
I just payed off several cards and a loan. I need to apply for a car loan asap. How can I get my 0 balances reported right away. Can I call and request it? Can I start a dispute?

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rapid rescore

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There really is no way an individual consumer can update accounts. They must be updated by the holder of the debt.

That typically happens at the end of the billing cycle in which the payment was received. Usually, that’s within about 30 days. It may happen sooner depending on when the lender updates its records.

If you are applying for a new loan and need accounts updated faster, some companies will respond to a special request for updates, commonly referred to as a “rapid rescore” service. You will pay an additional fee to have someone call and manually update data so that it can be rescored immediately with the new information in the history. You will have to contact each creditor individually and ask if they provide this service and the costs involved

One note of caution, if you are settling old debts that have missed payments, the history still will reflect that negative history. Any missed payments will have a negative impact on your ability to get  new credit.

However, if you are paying the debts in full to eliminate interest payments and lower your outstanding debt, it will no doubt help your risk position.

Good luck

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The creditors normally only report once a month, some might do a mid cycle update if you request it. Disputing it won't make credit card companies updates any sooner, maybe for the loan company, but if its your only installment loan? then your scores could take hit when it updates to paid and closed.

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