How quickly are records updated?

Chippyste · 18 January 2020 at 2:27PM

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] · 18 January 2020 at 2:30PM

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

Chippyste · 18 January 2020 at 2:36PM

Brilliant.

So they should see the debts are cleared.

Thanks

Mrbridog · 21 January 2020 at 5:24AM

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 · 21 January 2020 at 7:09AM

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 · 22 January 2020 at 8:02AM

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

How quickly are records updated?

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