Dispute Updating Question

Anonymous · ‎11-17-2010

Question -

I disputed an account on EQ and I have received my results already. My question is, will the other two CB be notified as well and updated to the new info?

Thanks

jnydc · ‎11-17-2010

My belief is that if you dispute with the respective cra that information stays in house. They are only responsible for their own info and accuracy, which would explain why different reports reflect different creditors and such. If you come to an agreement with the oc they have a responsibility to report it to all of the cra's.

I think you need to do disputes with each. But I am not nearly as wise as others on here.

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ficonightmare · ‎11-17-2010

Did you dispute it with the OC through EQ? Or did you just dispute it with EQ for their reporting?

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RobertEG · ‎11-17-2010

No, they wont be notified.

If you dispute directly with the party who posted the information to your CR, such as the OC, using the direct dispute process under FCRA 623(a)(8) and 16 CFR 660.4. the results must be reported by the creditor to each CRA they reported the information to.

If you dispute through the intermediary of a CRA under FCRA 611(a), each dispute is handled individually, and only by the CRA to which the dispute is addressed, and update of results are not communicated to the other CRAs. Results, under FCRA 611(a)(6), are only requried to be communicated to the consumer.

Just another reason why I would never dispute through a CRA, when you now have the right to dispute directly with the credtior/debt collector.

RobertEG · ‎11-19-2010

When you dispute through a CRA (FCRA 611(a)(1)(A)), the CRA is required, within 5-days of your notice of dispute, to forward all relevevant information to the party who provided the disptued information to the CRA (e.g., the OC or debt collector).

The party who provided the disputed information is then required, under FCRA 623(b), to conduct their investigation of the disputed information, and report the results back to the CRA wthin 30-days of the date of the dispute.

The CRA is then required to complete their "reinvestigation" within 5 days, and reprot the results to the consumer. FCRA 611(a)(6)(A).

I see no provision, except for identitity theft related issues, that requires the CRA to share their results of reinvestigation with onyone other than the disputing consumer.