Rapid rescoring works by providing info to the bureaus outside their normal reporting schedule of 30-45 days.
The info provided, on letterhead from the creditor, specifying what action is to be taken (most common are: remove lates, update balance, delete tradeline) is faxed to the bureau (TU, EXP and/or EQ) which then investigates to make sure claim is valid. Tradeline is upated & credit report is rescored. Takes 3-5 days. The costs involved vary... I believe your broker has to initiate the process unless you can get in touch with special handling depts at the CRA.
And remember... There is no guarantee that your score will go up with a rescore.
