Credit Dispute Question

hclinere · ‎09-29-2015

Question about credit disputing

I've seen and heard mixed messages, do the bureaus have exactly 30 days or less to respond back, or up to 45? I've read some saying 30 days flat, period, others saying up to 45 for mail time etc.

I've also seen where people state it matters if you dispute online or not or if you send in letters as far as the time frame, 30 or 45 days

From my understanding, i had always thought it was 30 days by law, period, start to finish, and i did have a credit repair company tell me this as well.

Here is what i am doing, i'm not getting a direct report, i'm using my credit check total data, i am going to dispute all 3 bureas by letters sent by certified mail for proof

So should i be receiving back a response in no more than 30 days maxiumum from the date they receive the certifieds? Actual responses in my mailbox?

And if i don't can i then sue them and or remind them of the law in the next dispute then request an immediate removal of the items because they are in violation of this 30 day rule?

Lastly, does the same thing apply if i dispute direct with a creditor? If they do not respond completely within 30 days or less, they are obligated to remove it from the bureas? I had heard some laws have changed and the creditors/collection agencies have to do the same as the CR Bureaus now, or is this not true?

Any input would be appreciated, thank you

CH-7-Mission-Accomplished · ‎09-29-2015

@hclinere wrote:
Question about credit disputing

I've seen and heard mixed messages, do the bureaus have exactly 30 days or less to respond back, or up to 45? I've read some saying 30 days flat, period, others saying up to 45 for mail time etc.

I've also seen where people state it matters if you dispute online or not or if you send in letters as far as the time frame, 30 or 45 days

From my understanding, i had always thought it was 30 days by law, period, start to finish, and i did have a credit repair company tell me this as well.

Here is what i am doing, i'm not getting a direct report, i'm using my credit check total data, i am going to dispute all 3 bureas by letters sent by certified mail for proof

So should i be receiving back a response in no more than 30 days maxiumum from the date they receive the certifieds? Actual responses in my mailbox?

And if i don't can i then sue them and or remind them of the law in the next dispute then request an immediate removal of the items because they are in violation of this 30 day rule?

Lastly, does the same thing apply if i dispute direct with a creditor? If they do not respond completely within 30 days or less, they are obligated to remove it from the bureas? I had heard some laws have changed and the creditors/collection agencies have to do the same as the CR Bureaus now, or is this not true?

Any input would be appreciated, thank you

I believe the difference is if you pay for a report it's 30 days and if you use a freebie it's 45 days. Someone else can confirm.

I'm not sure about time for direct disputes.

I think as a practical matter, and just to be on the safe side, the CRA's will report in 30 days regardless of free versus paid.

I think the remedy is simply deletion of the item if they fail to respond on time. You would not be able to win money damages.

Do keep in mind that if they get a verification back later (say after the 30 days is up) that now verifies the information that was taken off, they can reinsert it upon giving proper notice. Again, someone else can chime in here. As a practical matter, information that is deleted tends to stay deleted unless it is an open account that updates.

RobertEG · ‎09-29-2015

The conclusion of a dispute inititated via a CRA is their sending of the Notice of Results of Reinvestigation.

The dispute process (presuming the CRA does not dismiss the dispute as frivolous or irrelevant) requires the CRA to conclude their reinvestigation within 30 or 45 days of filing of the dispute. That is not a requirement to have sent the Notice of Results to the consumer within that period

The thirty day period applies to all disputes unless the consumer has provided additonal information to the CRA after their filing of the dispute, which would then extend the period to 45 days.

They have an additional 5 business days after completion of their reinvestigation period to send the Notice of Results.

If there is an intervening weekend and/or holiday, that can extend the period to up to 8 days after completion of the reinvestigation period.

Add to that the normal mailing time, and the time from filing to receipt of the Notice of Results can typically be 40 days or more.

The direct dispute process does not set its own periods. Rather, it refers to the periods that apply to disputes files via a CRA, and states that those same preriods apply.

Thus, a furnsiher has 30 days to complete ther investigationm, and up to five business days to send their notice of results to the consumer.

Technically, if the CRA does not comply with the periods, then deletion of the disputed information is required. However, deletion is not permanent or absolute..

If the CRA has received verification from the furnisher, they can resinsert any previously deleted information.

Thus, a late Notice of Results can, if the CRA has received verification, can "reinsert" the information that should have been deleted. In effect, that equals no deletion if they have the required verification of accuracy, so it becomes a moot issue.

The goal is to get information verified or corrected, not to permanently require deletion of otherwise accurate information based on timing of a verification or correction.

CH-7-Mission-Accomplished · ‎09-29-2015

@RobertEG wrote:
The conclusion of a dispute inititated via a CRA is their sending of the Notice of Results of Reinvestigation.
The dispute process (presuming the CRA does not dismiss the dispute as frivolous or irrelevant) requires the CRA to conclude their reinvestigation within 30 or 45 days of filing of the dispute. That is not a requirement to have sent the Notice of Results to the consumer within that period
The thirty day period applies to all disputes unless the consumer has provided additonal information to the CRA after their filing of the dispute, which would then extend the period to 45 days.

They have an additional 5 business days after completion of their reinvestigation period to send the Notice of Results.
If there is an intervening weekend and/or holiday, that can extend the period to up to 8 days after completion of the reinvestigation period.
Add to that the normal mailing time, and the time from filing to receipt of the Notice of Results can typically be 40 days or more.

The direct dispute process does not set its own periods. Rather, it refers to the periods that apply to disputes files via a CRA, and states that those same preriods apply.
Thus, a furnsiher has 30 days to complete ther investigationm, and up to five business days to send their notice of results to the consumer.

Technically, if the CRA does not comply with the periods, then deletion of the disputed information is required. However, deletion is not permanent or absolute..
If the CRA has received verification from the furnisher, they can resinsert any previously deleted information.
Thus, a late Notice of Results can, if the CRA has received verification, can "reinsert" the information that should have been deleted. In effect, that equals no deletion if they have the required verification of accuracy, so it becomes a moot issue.

The goal is to get information verified or corrected, not to permanently require deletion of otherwise accurate information based on timing of a verification or correction.

MyFICO has a policy of discouraging consumers from disputing items to get information off their reports. That said, only you can decide what "the goal is."

hclinere · ‎09-30-2015

Thank you for the information