Immediate CR updates

[debtstopay]

I am paying off several credit card balances. I want the creditors to update this information immediately. Which address do I write to get this done immediately? Would it be the correspondence address for disputes?

[hegemony]

I would not contact them at all. the only reasonable means of doing this is expensive and usually done as part of the mortgage process.

[MannyLNJ]

I would not contact them at all. the only reasonable means of doing this is expensive and usually done as part of the mortgage process.

 

Can't he dispute the reported balance as incorrect and then they CRA's will contact them for updates?

[MarvBear]

I would not contact them at all. the only reasonable means of doing this is expensive and usually done as part of the mortgage process.

 

Can't he dispute the reported balance as incorrect and then they CRA's will contact them for updates?

 

 

yes. or just delete the account.

[XxRaVeNxX]

I would not contact them at all. the only reasonable means of doing this is expensive and usually done as part of the mortgage process.

 

 

How is sending a mesage through the mail, expensive? Explain your defintion of expensive...

Edited September 15, 2012 by XxRaVeNxX

[Repairerer]

I'm guessing he was referring to Rapid Rescore.

[MannyLNJ]

I would not contact them at all. the only reasonable means of doing this is expensive and usually done as part of the mortgage process.

 

Can't he dispute the reported balance as incorrect and then they CRA's will contact them for updates?

 

 

yes. or just delete the account.

 

If the account is open then if it was deleted wouldn't it just re appear next month with the 0 balance? I don't see the downside.

[MarvBear]

I would not contact them at all. the only reasonable means of doing this is expensive and usually done as part of the mortgage process.

 

Can't he dispute the reported balance as incorrect and then they CRA's will contact them for updates?

 

 

yes. or just delete the account.

 

If the account is open then if it was deleted wouldn't it just re appear next month with the 0 balance? I don't see the downside.

 

 

In order to comply with the FCRA, the CRA would need to supply the required reinsertion notice in the case where they had previously deleted the account as a result of a re-investigation dispute.

[hegemony]

I would not contact them at all. the only reasonable means of doing this is expensive and usually done as part of the mortgage process.

 

 

How is sending a mesage through the mail, expensive? Explain your defintion of expensive...

rapid rescore can cost several hundred dollars.

 

as Marvbear points out, disputing a positive account can lead to its deletion and the CRAs are usually too lazy to reinsert the account since they have to comply with extant law.