Sears citibank, capital management help!!

[Anonymous]

Ok, here's the deal, I had a sears card that became a charge off, it was never sold to a collection agency but was being handled by Capital  Management Services.  I finally called them a few weeks back and we struck a deal. It's paid now. I've been checking my CR  for the changes, nothing. I called Capital Management  they told me they don't deal with the credit reporting that I'd have to call citibank. Ok I called them, after 4 attempts at the automated recording that kept transferring me back to capital management, I started hitting 0. Finally a real person. Told her what was going on and I was told that they don't update until 51 days after the last payment. What is up with that. Is there anything I can do on my end to speed that up. Thanks for any advice

[gdale6]

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@Anonymous wrote:

Ok, here's the deal, I had a sears card that became a charge off, it was never sold to a collection agency but was being handled by Capital  Management Services.  I finally called them a few weeks back and we struck a deal. It's paid now. I've been checking my CR  for the changes, nothing. I called Capital Management  they told me they don't deal with the credit reporting that I'd have to call citibank. Ok I called them, after 4 attempts at the automated recording that kept transferring me back to capital management, I started hitting 0. Finally a real person. Told her what was going on and I was told that they don't update until 51 days after the last payment. What is up with that. Is there anything I can do on my end to speed that up. Thanks for any advice

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If its Citi reporting they need to maintain the account with accurate info and that would usually mean updating within 30 days. If its showing as unpaid I would dispute it as such. 

[Anonymous]

Yes it is citi  reporting, I will dispute. Thanks for the response.

[floweryu]

I had an account with them as well (through Citi). I had to call Citi and then they transferred me to another department, confirmed everything was paid and told me to wait. It updated as closed the next month, although they said it was going to take longer.

[RobertEG]

The statutory requirement under FCRA 623(a)(2) is that a furnisher must "promptly" update their reporting such as to maintain its current accuracy.

There is no set period, such as 30 days, that defines prompt.

I would give it at least one full reporting cycle (min of 30 days) before even considering a dispute.

There could easily be a week or so tor paperwork to hit the reporting dept, and thus miss a reporting cycle, so I would wait at least 45 days.