You know how it goes….  As a collection attorney that reports to the Credit Report Agencies, we send batch reports to the CRAs on the 15th every month. The consumer submits a payment to your agency on the 16th day of the month.

Credit Reporting Agencies take 14 days to  45 days to upload the new information to the consumer’s credit report. You then wait until the 15th day of the next month to update the consumer’s credit report with the new balance.

It is quite possible, likely even that the debtor’s  new balance will not be reflected their  credit report for up to 75 days.   If the debtor  pulls his or her credit report during that period or applies for an extension of credit the consumer can find the information previously reported to be inaccurate.  This is a problem with the system of reporting to Consumer Reporting Agencies, not a problem with your, or our, conformance with the laws.

It is imperative that if you are reporting to CRA’s, you continuously feed new updated information to them as it becomes available.

If this is looking like more confusion that you want to take on, perhaps it’s time to involve an attorney focussed on debt collection in the state of Florida.

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