How quickly are records updated?

Chippyste

Hi

I just need some advice

So I’ve come into some inheritance which I’ve used to pay off my credit card debt, well 80% of it.

My current car has given up the ghost and I’m looking to purchase a new car.

What I’m wondering is how long is it till your old debts are no longer visible on your credit report?

If I look at my debt on ClearScore/Equifax the debts are still there but have mostly alll been paid off. I do not want to get refused credit.

Thanks in advance.

[Deleted User]

Should be within a month but lenders will see a daily update, rather than your monthly one.

Chippyste

Brilliant.

So they should see the debts are cleared.

Thanks

Mrbridog

Your report it daily however the creditors don’t update daily as it’s to much time for them will all the people they deal with however creditor how it send to the report brorow every 4 - 6 weeks.

Ben8282

Check your credit reports to see the date of the month when the lenders in question normally report. They will only report to the CRA's on a monthly basis so you can expect the credit reports to be updated with the new balances when they submit their monthly reporting.

Chippyste

I’ve checked on Equifax and the accounts have been updated but it’s still showing that I’ve not settled my debts. Strange!