Understanding my credit report
Loan repayment information is reported to Experian, Equifax, and TransUnion (together “credit bureaus”) within a specific time period. Payments made on your loan(s) may take 60-90 days to appear on your credit report, depending on the date your payment was made and the date it was reported to the credit bureaus.
For example, the September status of your loan will be reported during the month of October. Depending on the timing of that file and the credit bureaus’ processing speed, that means a September payment would be reported during the month of October, and possibly not be fully processed and reflected by the credit bureaus until November.
The status of the loan will show as the date of the our last report was sent to the credit bureaus. If you have made a payment or paid off the loan after that date, the data will not change until our next report is sent. The status will continue to reflect late payments and charged off loans even if the loan has been made current or has since been paid off.
Scratch has a regulatory obligation to report accurate loan and repayment information (positive or negative) to the credit bureau and can only change reporting when an inaccuracy is identified. Scratch is not obligated to process requests for expedited credit reporting updates upon your repayment date.
Please note that 3rd party credit reporting sites may take even longer to reflect your payment history. Scratch has no control over the timing or accuracy of 3rd party credit reporting sites.