Whether you’re interested in taking out a loan or looking to see if incorrect information has been removed from your account, checking your credit report every day unfortunately won’t change how quickly the company updates your information. As such, it’s important to understand how often your credit report will update, as it can give you a better idea of your circumstances and when to apply for loans. Additionally, if you’re having issues with your credit report, such as incorrect or outdated information being listed, you’ll want to connect with a San Diego County credit reporting error lawyer. These matters can be complex to navigate, so enlisting legal assistance is critical.
When Does a Credit Report Update?
It’s important to understand that in most instances, there isn’t a specific day of the month that your credit information will update. As such, you’ll need to constantly be on the lookout, as your credit reports from the three major reporting bureaus update depending on when they receive new information from lenders.
Generally, lenders will send your information to the reporting agencies every thirty to forty-five days. However, each lender has a different schedule for when they send information to the lenders, and reporting agencies may not add the new information immediately, meaning it could take weeks for your information to match on all three of your credit reports.
What Information Should I Look For?
When you check your credit report for new information, it’s imperative to understand what you’re looking for. Generally, if you’re expecting a change to your account, ensuring it’s there is key. However, if it isn’t listed, don’t panic. As mentioned, it can take time for your report to update.
If you do find the updated information, ensuring it’s accurate is critical. This includes checking that, for example, the loan amount is right, the lender is correct, and the date on which you opened the account is accurate.
If I Find an Error, What Should I Do?
If you find an error on your credit report, whether it’s about your new information or any other inaccuracies on your report, understanding how to remedy these matters is critical to ensuring your finances are protected. Incorrect information can drastically impact your credit score, leaving you denied loans you would have otherwise received, and can hurt your housing opportunities.
Because your credit plays such a significant role in your life, ensuring you take the necessary steps to mitigate potential damages by remedying these matters as soon as possible is vital. However, the process of disputing an inaccuracy can be complex, so it’s in your best interest to connect with an experienced attorney as soon as possible to help you. At Barthel Legal, we understand how frustrating it can be to wait for your credit report to update only to find an error, which is why we can guide you through this process. Connect with us today to discuss your circumstances with a member of our team.
