03-08-2013 08:12 AM
I'm new to the forum and I've come across some great information here. I am trying to repair my credit. I have a score of 599. I'm making sure that my bills are paid on time and keeping my utilization low. I have 2 collections, a 30 day late on a retail credit card and an auto loan that has some late payments and is listed as a collection/paid charge off. My last payment was a couple months late. I was always in contact with the auto representatives and was never informed that the account was going into collections or was being charged off. I paid the account in full last year.
I sent a dispute letters for the auto loan to the CRAs. I read in a book that I should send dispute letters by mail because sending emails limit some of your options(don't know if this is true). Anyway, I didn't include my email address in the letter but I received a response back from Equifax that is an email. In the email it states "To accept receipt of the results of your investigation online, please click on this hyperlink." Should I click on the hyperlink? Does this limit later options? Not sure what I should do. Any help or responses would be appreciated.
03-08-2013 10:14 AM
The statute requires the CRA to send written Notice of Results of Reinvestigation by mail within 5 days after completion of the dispute, unless the consumer has specifically authorized receipt by "other means," such as electronic. Online disputes provide such an authorization. If you sent a written dispute that did no expressly include such an authorization, they are clearly in violation.
A consumer reporting agency shall provide written notice to a consumer of the results of a reinvestigation under this section not later than 5 business days after completion of the reinvestigation, by mail or, if authorized by the consumer for that purpose, by other means available to the agency."
03-08-2013 10:41 AM - edited 03-08-2013 10:42 AM
As an aside, I would recommend avoiding all of the silliness that accompanies a dispute filed through a CRA by using the alternate direct dispute process.
Not only does it avoid your specific issue, it also avoids the CRA practice of not forwarding all of your supporting documentation to the furnisher, as is their standard practice under their e-OSCAR process. Direct disputes ensure that all of your supporting documentation and arguments are received by the furnisher.
Online disputes are the worst, as they require the consumer to sanitize their own disputes, and in my opinion, should definately be avoided.