What happens if a credit dispute passes 30 days?

[MRsolis]

Hey guys I am sorry if this has been answered before but I searched and couldn't find an answer.

I submitted a dispute to Transunion regarding some accounts and the status page says they completed 2 of the 4 items and they are going to hit the 30 day mark in 5 days. 

What happens if they pass 30 days? What do I do then? 

Thank you

[RobertEG]

The requirment under the FCRA is that they conclude their reinvestigation within 30 days, but that is kinda transparent to the consumer.

They have an additional 5 buiness days thereafter, which can become up to 8 calendar days with an intervening weekend and holiday, in which to send their Notice of Results of Reinvestigation.

If the consumer sends additional information to the CRA during the reinvestigation period, the reinvestigation period is extended to 45 days.

If the Notice of Results of Reinvestigation is being sent via mail, it could take up to 30 or 45 days + 8 + mail time to reach the consumer's mail box.

Thus, the statutory requirement is not simply 30 days, and violation is determined based on the mailing date, not receipt date.

If they do not comply with the time periods, they are in violation.  You can file a complaint with the CFPB, and perhaps they will issue a slap on the wrist.

You might choose to bring civil action, but most likely that would only be reserved for gross or repeated violations.

The FCRA does not explcily provide a set sanction for late dispute resolution.

[MRsolis]

Alright I will keep this in mind. Thank you for the info !!

[MRsolis]

Don't mean to bump but I probably should have checked the Transunion Dispute FAQ's first but in case some one also overlooks that here is the info:

What happens if the data provider does not respond within the required time?
TransUnion will stop displaying the applicable information in your credit report if we do not receive a response from the data provider usually within 30 days.

Why was information reinstated on my credit report?
The Fair Credit Reporting Act (FCRA) allows the reinstatement of accurate data. If TransUnion does reinstate an item in your credit report, we are required by law to notify you in writing and send you a copy of your TransUnion Personal Credit Report once the item has been reinstated.

What if I disagree with the results of an investigation?
If you disagree with the results of our investigation, you may add a consumer statement to your credit report disputing the accuracy or completeness of the information. Consumer statements should be sent to P.O. Box 2000, Chester, PA 19022. You must include your name, address, Social Security number and the TransUnion File Number located in the upper right hand of your TransUnion Personal Credit Report.

Can I see the correspondence my creditor sent to you about my account?
We do not provide consumers with the verification responses we receive from the data provider. We can provide you with the data provider's name, address and telephone number to enable you to request written verification or documentation directly from them.