How Often Does My Credit Report Update?

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Whether you’re looking to take out a mortgage or apply for a car loan, you may be eagerly awaiting your credit report to update. However, after checking nearly every day for what feels like weeks, you may grow frustrated if it does not change. As such, understanding when your credit report will update is critical to prevent frustration and get a better idea of when you can expect your report to reflect any new changes. The following blog explores what you should know about this process. Additionally, you’ll learn what information you should look for in the report and how a Los Angeles, California credit report lawyer can assist you if you have issues.

When Does a Credit Report Update With New Information?

Many people become frustrated when information that should be on their credit report does not appear promptly. However, it’s necessary to understand that there are many different factors involved during this process. For example, you’ll find that you have three different credit reports. While all the information should be the same across the board, the three major credit reporting agencies (Equifax, TransUnion, and Experian) will differ in how and when they update your information. Additionally, the lender with whom you have taken out a loan may not send the information immediately to the bureaus.

As such, you may not see a change in your report for thirty to forty-five days on average. It’s imperative to understand that your information will not be updated on a specific day but when the lender sends the information and the bureaus report the changes.

What Information Should I Look For When Checking My Report?

When you do notice that your credit report has been updated, it’s imperative to check the information that has been added. If you have taken out a new loan, for example, you’ll want to ensure the information is accurate. This includes who the lender is, the amount owed, and when the loan was approved.

Additionally, if you had filed a dispute to have inaccurate information removed, you’ll want to ensure it has been remedied if you notice your report has changed.

If I Find Incorrect Information, What Should I Do?

In the event you find inaccurate information on your credit report, filing a dispute is in your best interest. This allows you to point out the error to the credit reporting agency. However, they may not respond as quickly or ignore your request. As such, it’s in your best interest to connect with an experienced attorney.

At Los Angeles Legal Solutions, we understand how complex credit reporting can be and the impact it can have on your life. That’s why our team is ready to assist you with any issues you may have with your credit report. Connect with us today to learn how we can assist you.

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