EQ slow to update, can I help speed them up?

[dgold21]

I have a couple accounts, and one in particular, that EQ hasn't updated since April. I've contacted the creditor, and they told me they report to all three on the 22nd of every month, and EX and TU reflect current info. EQ is still showing a $500 balance on this account that should show a zero balance.

The creditor is sending me a zero balance letter, will EQ take care of this over the phone/fax once I have it in hand, or am I going to have to prepare a letter and use snail mail?

[catnap1972]

Same here...they're dragging their feet updating the Crap 1 balance on mine.

[kb9tbq]

Once you get that letter, fax a copy to Equifax. That will work just fine.

[FICOfocused]

Mine is the same way with EQ - the other bureaus have had two updates and it's like Eq is frozen! I never did anything about it cuz I have noticed this for awhile and they do eventually update but geesh...takes long enough! Wish they were required to do that within 30 days too

[kb9tbq]

If you are waiting on creditors to update by their usual tape methods, it can take 30 to 60 days. And that is with a creditor that updates on a regular basis, I see some that send in tapes spaces further apart then that.

They have manual means for update like UDF & Bullseye, but these require that they double their work - updating the tapes as well so that the tape don't over ride the manual update.

A manual update is just a one time update, and is best used when reflecting zero balance paid, or deletion - since nothing further needs to be done on the updating. But the update in this means can be posted within a few days.

When the creditor won't update faster, that is when you convince them to send you a letter of confirmation then update to the CRAs yourself.

[catnap1972]

There's no danger that a "manual" update will cause the TL's updating to be "frozen"? Reason I mention that was that Crap 1 sent an update to all three CRAs when I called about the TL having been deleted from TU. EXP has been fine, but EQ hasn't updated since they got that manual update (early-mid June)...one month's updates were skipped altogether and I'm afraid that it's going to happen again (which definitely isn't going to help my attempt for the HH "daily double"...ie GM and Corvette)

[kb9tbq]

Using UDF forms is really for one time updates - like closed accounts (that need nothing further).

When using a UDF to update open accounts - the company has to also update their tapes. Sometimes when sending in UDF forms what can happen is that the company messes up on the account number they were initially using and will use another version of the same number, like:

012356 (this being what the credit report tradeline showed by tape reporting)

00123560 (this being the one used when completing the UDF for update)

This will sometimes cause one dead tradeline (only showing correct updated information for one month), and a second one remaining that is not correct either cause the fix was a new tradeline seperated from it).

Unless they eventually corrected their types right - then you are left with removing the dead tradeline that is now a duplicate reporting.

Reporting is not an easy task for creditors, that is for sure. They make honest mistakes (I have seen some quit reporting all together cause their system could meet the proper format). Not all of the creditors understand their responsibilities or how to use UDF or Bullseye. Some are quite uneducated to these things.

You are fortunate if you find a creditor willing to work with you and update the CRAs properly, I know a lot of them with say - don't dispute with us - go through the CRA if you have a problem. This is not right; but some of them just don't know or have the means to fix things all the time.

It gets more complicated than that, I have a few customers that got shut down on reporting data for various requirements issues which they could not meet. I don't know the inside workings of the tapes, but I am in a position to hear all the problems when things do go wrong!