after paying a debt....

[USC08]

After paying a debt..what is the time frame for the agency/company to report it as paid to the CRA's and when must they give confimation that its paid?? is there a law that states it? i'm in CA

Message Edited by USC08 on 07-19-2008 12:44 AM

[Anonymous]

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USC08 wrote:

After paying a debt..what is the time frame for the agency/company to report it as paid to the CRA's and when must they give confimation that its paid?? is there a law that states it? i'm in CA

Message Edited by USC08 on 07-19-2008 12:44 AM

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Cali has alot of extra laws for help with credit repair. I would read up on them.

I do not know of an exact law that states a time frame they have to report it paid. Most agencies will only update accounts 1 time per month, so I would give it 30-45 days.(The CRA's will take a few days after getting the update from the creditor's.)  If after that time, then you can dispute it with the CRA's as 'paid, balance incorrect, etc'

[Anonymous]

They will report it paid in time, but bear in mind this has no reflection on your credit score. FICO scoring factors paid and unpaid collections the same.