Sunday, November 22nd, 2009
How do I write a letter to credit bureau to have report updated?
anajaaki asked:
I have been recently been paying things off on my credit. And I was told to send a copy of the reciepts to the credit bureau with a letter attached. What should the letters say?
I have been recently been paying things off on my credit. And I was told to send a copy of the reciepts to the credit bureau with a letter attached. What should the letters say?
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November 22nd, 2009 at 2:03 am
The creditor will report the paid status of the debts. You don’t have to send any letters or receipts. It will take up to 60 for the update, depending on when the creditor makes their regular update report.
Paying off old debt will not improve your credit score, unless you get the creditor to delete for payment. The damage is already done and it will take 7-1/2 years from the date of first deficiency for the negative to fall off your credit report.
However, creditors do review your whole credit report, not just the score. Paid old debt looks much better than unpaid.