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#Rsvp loans update#
Yes, the CRAs do advise creditors not to continue to update prior reporting after the debt is paid and the account closed unless there are changes in previsouly reported information that mandate correction.
#Rsvp loans plus#
The requirement is that if/when it is reported, any information must not knowingly be inacccurate (FCRA 623(a)), and that once the reported information has reached the period for its exlusion, such as 7 years plus 180 days from DOFD for a CO, the CRA must discontinue its further inclusion in the consumer's credit report (FCRA 605). That would include reporting that, prior to payment, the debt had been charged-off, and thus deemed to have become uncollectible. Similarly, the fact that the account was closed and the debt discharged before they first reported does not preclude their initial reporting at any time. There is no time period under the FCRA, any regs, or under CRA reporting policy within which information must inititally be reported to a CRA. The question is whether or not a creditor can first report their account after it is closed and paid/settled. I knew I had money coming in the next month to pay it off.As I understand the post, the creditor was not reporting their account until after it was paid/settled. I borrowed because I needed money NOW to land an apartment I LOVED, and only had a number of days to provide my first month and deposit before they move on to the next approved applicant. This was the easiest process I’ve been through.
Smart borrowing is borrowing KNOWING you can pay it back. Once approved, I got my funds in my account the next day! Plan to pay off your loan ASAP or within the next month.
You can send them via email or via text from the phone#/email you applied with.
I filled out the application in the morning, sent my documents at 9pm that night, and even got a text confirming they got my documents. You’ll have to have an active and “in good standing” checking account. You fill out your initial information, and then they’ll request all the documents: ID, ssn, proof of income, and bank statement. Same as all the previous reviews (trust me, I read them ALL before applying).
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