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Don’t worry if you make payments and your credit report isn’t updated right away.
Creditors only report to Experian and other credit reporting agencies on a periodic basis, usually monthly.
The Credit Repair Organizations Act is a federal law that became effective on April 1, 1997 in response to a number of consumers who had suffered from credit repair scams.
In effect, the law ensures that credit repair service companies: There is no quick fix for your credit.
"Rather than that back and forth haggle between a debt collector," an online dashboard let him customize a plan, he notes.
Debt collection firms use technology today, including automated dialing systems (aka “robocalls”), skip tracing to find consumers, and predictive scoring to help them identify which consumers are most likely to pay.
Debt collection, like many sectors of the economy, is starting to go digital.Consistently making on-time payments against your debt will also help you build a positive credit history, which can have additional benefits for your credit history and, by extension, your credit scores, too.If your debt feels overwhelming, it may be valuable to seek out the services of a reputable credit counseling service.So if the idea of talking with a debt collector automatically puts your stomach in knots, you may be in for a pleasant surprise: In the not-too-distant future, your debt collector may be a computer.William Lowe, director of operations for Gluu.org, a firm that writes and supports open source security software, has experienced this firsthand.