About three months today i paid all my creditors and i was owndering how long does it take to show on my credit report that they're paid off so that i can actually get a job. i was recently turned down (a month ago) from a job due to my credit report. It seems that i can't get a job with my bad credit. I paid it all off so i was wondering how long does it take to show that i am okay with my creditors.
2007-12-08 09:21:39 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
i've been recently applying at retail jobs like Sears,khols Waltmart etc....
2007-12-08 09:50:00 · update #1
Yes, it will take a while. And even with paying off your cards, your score won't jump for a while. The longer you go without bad marks the better your credit begins to look.
As for paying everything off, I think that is not the best of ideas, although it's not a problem. When your account shows activity, that looks good. When you close your accounts, that doesn't look good. When your accounts are at 30 to 50% that helps. But when your accounts are nearly maxed, BAD!
In short, like the previous answer said, dispute the reports. The worst that could hapen is they don't get removed. At this point you have nothing to loose.
Good credit is reflected by the amount of credit extended to you AND how much of that credit you are into. Late and EXTRA late payments take up to 2 years to disappear, so don't expect to see your accounts rise for a while.
2007-12-08 09:33:37 · answer #1 · answered by tercir2006 7 · 0⤊ 0⤋
I believe most companies have to send the new info within one QTR (3 mo) but when they sent it in is in the air--ex 1st day of the qtr vs the last day? then the credit report has to update. You may need to call and verify when the CO sent the info that you have fufuilled your obligation into the credit reports so you know WHO is twiddling their thumbs. Curious..what kind of job are u looking 4 that runs a credit check? You will also need to order the 3 credit reports to make sure the neg info has been updated on all 3. You don't know which of the 3 the next comp you apply at will be looking at.***side note--unless agreed on by the companies you owed money to, paying them off is no guarantee you are exhonerated for having been late on your payments. It can still say "180 days late" etc and then say it was finally paid off and account closed. The employer will still be able to see all the late payments or lack of payments prior to your settling up. A Lot of times you request this be done when you agree to pay your debt in full. Good Luck--oh and ans my question if you can
2007-12-08 09:39:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
What kind of job was it? It shouldn't take more than 30 days but I'd give it up to 45. Even paying off 100% of your debt will not necessarily make your credit "good." Remember, there's a history that goes back several years that can be seen. The best way to have good credit is to make payments on time consistently over time. In my situation, for example, I never charge more than 1/3rd of my credit line on my cards any one month, I pay off my cards every month in full, and I always keep a car loan around (0 interest on the last one) -- this all shows that I can currently pay off debt. 2 rules... CONSISTENCY and TIME. If you're in a jam, you might be able to "expedite" your credit improvement by taking out some loans and paying them off within a month or two. Just be careful!
2007-12-08 09:39:09 · answer #3 · answered by Butch 2 · 0⤊ 0⤋
That you paid off your debts is good but if you had items noted as late payment and/or items in collection, you will need at least a 24 month on time payment record to see any real improvement in your score.
If potential employers are just looking at your score, it could take quite some time. You might want to point out that you had some credit problems but you got everything squared away. If they look at your whole credit report, they'll see that you've paid off creditors.
2007-12-08 09:31:37 · answer #4 · answered by bdancer222 7 · 1⤊ 0⤋
Typically creditor report to the credit bureaus every 30 days. Give it about 45 days and it should start showing up that the accounts are paid. For advice regarding your credit check out the site below....Good luck!
2007-12-08 09:52:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It varies and could take months. I would dispute the information with the companies that support the reports. They will have to remove it if it is valid and you can prove your dispute.
2007-12-08 09:26:48 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Usually about 6 years
2007-12-08 09:29:47 · answer #7 · answered by Anonymous · 0⤊ 3⤋