Score Plus: Credit Rescore
The Score Plus program allows Credit Plus to update credit information with the three national repositories in 5-7 business days. Credit Plus will forward documents supplied by your borrower directly to Equifax, TransUnion and Experian for a rush investigation. The repositories will update credit information and trade lines on their credit reports.
How does the Score Plus program work?
Your Score Plus request must be emailed or faxed using a Score Plus Order Form. Please include the appropriate documentation needed to update credit information. A Score Plus representative will review the document(s) and then forward them to the requested bureaus. Each bureau will then verify the documentation and notify Score Plus that their update has been completed. Once Credit Plus receives confirmation that the bureaus have been able to update credit information for your borrower, Score Plus will repull new credit and advise you to access the updated report and scores.
How long does it take to update credit information?
While Score Plus is unable to guarantee a completion date, turnaround time to update credit information is typically 5-7 business days from the time your request is received. If the Bureau rejects the documents, you will be promptly notified.
What types of credit information can Score Plus update?
Given a verifiable document from the creditor, Score Plus can:
- Remove derogatory information and accounts that were reported in error
- Update an account that has been paid in full and closed
- Update the status of a collection
- Update a balance or paid-in-full status
- Update an account to show that it was included in a bankruptcy
Types of documentation the credit repositories WILL NOT accept are:
- Universal Data Verification Forms
- In-store payment receipts (such as from the register at Sears)
- Letters without a telephone number or date (for audit purposes)
- Divorce decrees
- Documentation without matching account numbers
- Documents over 30 days old (other than court documents)
- Cancelled checks
- Bank statements
- Payment histories or confirmations
- Western Union or other wire transfer receipts
- Money orders
- Cashier’s check copies
- Hand-written letters from ANY source, buyer OR creditor
- HUD sheets/settlement sheets
- Documents from original grantors for debts listed by agencies are frequently rejected by the repositories.
Note that occasionally, a bureau may not accept the documentation. The consumer will then need to follow the standard 30-day dispute procedure with each bureau. The bureaus stipulate that THE CONSUMER IS NOT TO BE CHARGED either directly or indirectly for the service.
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