reports to the 3 CB's that a collection was an error. Resource Performance Management reported a collection from Sprint on my credit reports. They have received the documentation from Sprint that the account was not mine and they said they would be notifying the CB's. Do they only report once a month? Doesnt seam right to me.
Most companies will tell you it takes 60-90 days to update your report(s). They usually report once a month; the date of the month depends on their reporting cycle. You have the documentation in hand from Sprint, correct? If so, and you're applying for a home loan or mortgage, that is proof you've paid the debt. Do you know which report(s) this account is on? I would wait at least 60 days and pull to see if the account is off yet. Good luck,
I would request that the CA send you a signed letter of deletion on company letterhead. make a copy of it and send it to all three CRA that way you will know that a request for deletion has been made . it takes less time for the CRA to process for some reason opposed to electronic data tapes form the CA as there are other info on the tapes they need to look through.
MY credit scores were all mid 600's. I have 18yrs of credit with no derog, but many lates from 2 years ago, or my scores would be much higher. The CA reported to Equifax and Experian. I lost over 60points on both those reports. I applied for a Patelco CC to transfer my Discover balance to, but was denied for The public record, the amount of time since the collection was too recent and you have a recent collection on your report. All 3 reasons for the same 605 collection. They want me to fix the credit reports first - will not take the letter from Sprint saying it was fraud and I dont owe the balance. I will just wait and see what happens. I have a daily credit monitor that tells me whenever anything happens on my Experian report. Thats how I found the collection in the first place. I can understand that the different agencies need time and report only once a month for normal transactions. However, when an error is made and they fully agree ( in our modern day of technology), I would think the laws need changing and that the correction should be immediate.
