heya its me again... How often do creditors have to report? Right now I have my car loan that has not been updated since 2/2002 and I have paid over $2500 on it... any ideas? muchas gracias shalom and thanks!
In theory, every month they should report. But, if you dispute the balance with the CRA, they will contact the creditor and list the current balance, usually.
My car loan hadn't been updated in over a year, so I asked the CRA to update, so the correct balance would show, and they deleted the whole TL. I have quite a few accounts that only update once a year.
If you try and get an account update and the tradeline doesn't respond TU will delete the tradeline. Charlie
They will, but they aren't supposed to. The FCRA says they should update or delete only the "item" in question. If you dispute a limit on a cc, and they oc doesn't respond, they should update the limit to what you said it was rather than delete the whole tl.
I've had good luck watching which TL's report when; since all my tradelines report, a card that is lax on reporting can be a great place to hide a big balance to get 1-2 month score boost so I can apply for something else.
