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clayedwards · Joined: 07 Feb 2010 Posts: 17 5.66 Dollars($)

Ok heres my Problem, About 6 month's ago I had a score of 644 now it seems its droped to 588.
I have had to fight the three systems do to someone else having the same name as mine, living in the same town and among other things. I got this cleared up but now I have rechecked snice I am looking to buy a house and I have found that my bank has inacourate info. shows I paid late once on two loans, I have been told as soon as they get the dispute letter they would take care of it also they showed a 3rd late on a car I paid off back in 09 and still show a bal. of 336.00 on it.
Once they get the letter and update the accounts how long will it take for my reports to be updated, Also Im on the higher end of my credit cards and plan on paying them off this week but not closeing them out.
Does anyone think that the score will be updated within a month or two.
thanks
one more thing I baught a car about 6 months ago would this have a had a huge effect on my score
taz

adonis · Posted: Sun Feb 07, 2010 9:17 pm Post subject:

Hi clayedwards,

Once the disputes regarding your credit report is resolved and the correct information is updated, I think your score would go up within a month. The car that you've purchased 6 months back will not influence your score much but it would definitely play a role while your lender calculates your debt to income ratio.

banker0679 · Posted: Sun Feb 07, 2010 10:43 pm Post subject:

Once the information is resolved with the credit bureaus...the SCORE is updated almost INSTANTLY NOT within a month

Anything that is corrected on your credit reports will get an instant score

Credit Scores are calculated by what's on your current credit report
If you had negatives and they no longer exist then your new score will show.

Guest

thanks ya'll

Im tring to get my score up to try adn get a fha loan for a house and Iv paid off the high debt friday so Im at 26% of my rev. credit and Iv got about 10% to put down on the house so Im just waiting on the score to come up Razz

Guest

Hi clayedwards,

I don't think that there's any stipulated time within which your score may get updated. It varies from one to another. However once a information gets registered and consequently resolved, the score is generally instantly updated.

Guest

ok on the car loan that was paid off last year and still shows a bal. which shows its past 30 days, could the bank not just update it with out reciving the dispute. I have never been late on the car note and teh banker even looked it over and did not know what the deal was but just told me to dispute it and he would have it fixed. I kinda want it fixed now and have to wait on the dispute.,
thanks

gmakerley · Posted: Tue Feb 09, 2010 10:57 am Post subject:

why would you go through the credit agency and dispute something that you can more readily resolve by contacting the creditor directly and insisting that they update their records and do it correctly? with automated underwriting taking note of disputes in an unfavorable manner, it's not the best thing to do to willy-nilly go around disputing things. more appropriately, get the creditor to fix its mistake and quickly.

"the banker....told me to dispute it and he would have it fixed" - that says to me that all you need to do is to get the banker to get off his dead butt without the help of the credit agencies. if he agrees with you, why doesn't he simply fix it instead of telling you to dispute it? is this a lazy banker? it's sad to think that someone would tell you to use a third party to go to him to get him to do his job that he recognizes already. i dunno...i'm shaking my head on this one.

clayedwards · Joined: 07 Feb 2010 Posts: 17 5.66 Dollars($)

George

that was my thinking so I wnt back to the bank today and had another meeting with him, seems they dont send the reports in every month to the agency but rather the agency pulls the reports each month.
after talking and finding out he has never delt with that side he is checking with the one that takes care of it and told me that it would be takin care of.
seems you just have to be alittle more aggr. lol

gmakerley · Posted: Wed Feb 10, 2010 6:36 am Post subject:

you are perfectly correct in saying that aggression is required. there are far too many bankers/lenders, etc. who have not a clue as to how the process works. that's obviously where he was coming from - forgive me for wondering if he was lazy. i probably should have recognized his lack of knowledge caused him to give you that earlier advice.

i'm glad you took the bull by the horns here; hopefully it will bear fruit in short order.

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how long will it take to get a score updated