credit dispute - Posted by Ginger

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1

Posted by Adam on February 02, 2004 at 09:14:53:

“But, unless I read the law wrong, the bureau must remove it, and then if the creditor response comes in within 15 days after the item is removed, (after the 30 days), then the item is reposted.”

The item can be removed and put back 2 days after the dispute or 5 months later. It doesnt really matter. The key thing is did the bureau send a letter stating that the item was “re-reported”? 95% of the time they do not. They must send the consumer a letter within 5 days of the re-insertion stating that the item was re-inserted or they have violated the law.

“So, a bureau could pull the account, send you a new file showing that it is out, then re-post it.”

True, see reply above.

“BUT, as more and more people sue them, they seem to get a grip on the law”

Most cases are settled out court. This way the FTC and the such dont see the cases.

"creditboards.com
and
credit infocenter.com

Look it up at either of the two sites. creditinfocenter seems to be easier to use."

i got my start at creditboards and we will answer alot of questions. I started a credit advocacy business because of the things they did to me and my friends. I recommend everyone read the Fair Credit Reporting Act during their credit repair journey. If I can be of more help please feel free to email me.

Adam

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credit dispute - Posted by Ginger

Posted by Ginger on January 30, 2004 at 18:37:41:

I am in the process of challneging incorrect information on my credit report. I was sent a report back within the 30 day time frame, however the accounts that I had challenged were showing “under investigation”. Do I have any recourse because they were not finished within the 30 day time frame and if so, were can I go to cut and paste the statute, to send to them? Also, any other suggestions would be helpful.

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Re: credit dispute - Posted by James Mc (IL)

Posted by James Mc (IL) on January 31, 2004 at 20:56:34:

Also go to creditinfocenter.com

They have 30 days plus a 15 day grace period to get them fixed. This gives the creditor a full 45 days to respond.

James Mc

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Re: credit dispute - Posted by rm

Posted by rm on January 31, 2004 at 18:27:50:

Go to creditboards. com and search that site for credit repair specifics

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Re: credit dispute - Posted by Adam

Posted by Adam on February 01, 2004 at 11:59:34:

Actually they have 30 days to complete the investigation and 5 days to send you the results. They do not have a 15 day grace period.

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Re: credit dispute - Posted by Bruce Lawson

Posted by Bruce Lawson on February 02, 2004 at 16:15:00:

Hi Adam,

Under the FCRA the reporting companies do indeed have 45 days to complete their investigation and have the updated credit report to the consumer.

Sincerely,

Bruce Lawson

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Re: credit dispute - Posted by James Mc (IL)

Posted by James Mc (IL) on February 01, 2004 at 22:54:59:

Yes, that’s right.

However, The 30 days is the right time allowed before they MUST remove it.

But, unless I read the law wrong, the bureau must remove it, and then if the creditor response comes in within 15 days after the item is removed, (after the 30 days), then the item is reposted.

And the results must be postmarked within the 5 day period.

So, a bureau could pull the account, send you a new file showing that it is out, then re-post it.

Most of the time when you dispute something, they seem to pull it out or mark it as disputed. Then send out by mail a new file that is 31 or so days from when you first sent in your dispute.

All three have redone their sites to make it as hard as possible to use them. And to confuse and discourage you from bothering them.

Experian has been the easiest to use, untill this last month when they redid their site.

Equifax has changed almost every other month,

Transunion are bastrds from hll.

BUT, as more and more people sue them, they seem to get a grip on the law.

creditboards.com
and
credit infocenter.com

Look it up at either of the two sites. creditinfocenter seems to be easier to use.

James Mc

8

Re: credit dispute - Posted by Adam

Posted by Adam on February 03, 2004 at 07:19:10:

With all due respect Bruce, there is only one way that an investigation can take 45 days. This excert is taken from the Fair Credit Reporting Act:

§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]

“B) Extension of period to reinvestigate. Except as provided in subparagraph (C), the 30-day period described in subparagraph (A) may be extended for not more than 15 additional days if the consumer reporting agency receives information from the consumer during that 30-day period that is relevant to the reinvestigation.”

The only way a dispute can take 45 days is if the credit reporting bureau recieves info pertaining to the dispute from the consumer. No other way, PERIOD!

The following is also taken from the same section of the FCRA:

"(A) In general. If the completeness or accuracy of any item of information contained in a consumer’s file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly of such dispute, the agency shall reinvestigate free of charge and record the current status of the disputed information, or delete the item from the file in accordance with paragraph (5), ---->before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer