How Long Does It Take To Correct Credit Report?
Our recent article covering what to do when a company erroneously puts negative information on your credit report prompted another question.
HOW LONG DOES IT TAKE TO GET IT CORRECTED?
It can take up to 60 days to get it corrected depending on the reporting cycle of the company you are dealing with.
Most companies report to the credit bureaus once a month. When they correct your account information internally on their records, which may be days or a week after they tell you it will be corrected, the updated and corrected account information is ready to go to the credit bureaus to update your credit file.
However, if the company just did their monthly submission to the credit bureaus, it could be almost another full month before the correction hits your credit report. This "credit reporting lag time" is what can cause the delay in seeing the correction to your account info on your credit.
When you are in this situation, wait at least 30 days before checking your credit for the correction. Understanding the lag time can help you avoid the stress and worry of the error still being there, when it's really in the process of being fixed.
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