Disputes

[Proverb]

What happens if an company does not respond to disputes within the 30-45 days?  Will the credit agencies remove from report?  What is the rule?

Thanks

[RobertEG]

How did you dispute?  Was it through the intermediary of a CRA under FCRA 611(a), or was it a direct dispute with the party who posted to your credit report, using the direct dispute process under FCRA 623(a)(8)?

If you disputed through a CRA, here is the law:

1. from the date of receipt of your dispute, the CRA must, under FCRA 611(a)(2)(A), then . forward your dispute along with all relevant information

    that you have provided in support of your dispute, to the party who furnished the disputed information (OC or CA) to them within 5-days of the CRA receipt of

    your dispute.

2.  the burden then shifts to the furnisher of the information to the CRA to conduct, under FCRA 623(b)(1). an investigation of the disputed information,

     and after reviewing the information sent to them by the CRA, and report the results of their investigation back to the CRA within 30-days of

     the date of your intitial dispute with the CRA.  FCRA 623(b(2).

What if they dont respond back to the CRA, or delete?

Two things.  If the results of their investigation concluded that the information was inacccurate, incomplete, or that they could not verify it, they are INDEPENDENTLY required under FCRA 623(b), to make a reporting of modification or deletion of the reported information from your CR.  FCRA 623(b)(1)(E).

This is independent of what a CRA must do in the dispute process.  The burden is on the furnisher of information to delete.

If the furnisher of information did not report a finding of accuracy back to the CRA with the 30-day period set under FCRA FCRA 623(b)(2), and did not independently delte fthe information from your CR. then FCRA 611(a)(1)(A) compels the CRA to delete the information.  Then the CRA must delete under their independent authority of FCRA 611(a)(1)(A).

Under FCRA 611(a)(5), if the furnisher of informatation does not repond or provide a statement of non-verifiactiion, the CRA must promptly delete the reporting of the disptued information.

You can simply bypass all of the CRA involvement by filing a direct dispute under FCRA 623(a)(8), and thus compel response directlty to you.   I would never dispute through a CRA.

 Direct dispute eliminates the period for referal of information to the furnisher.  It also elimintes the sanitization of the information you have provided for consideration by way of the CRA e-Oscar process, which rarely forwards all information in support of your dispute to the OC/CA.  It eliminates the back and forth times between the OC/CA and the CRA.  It is just a stupid process that can now be avoided by just doing a direct dispute.

[Proverb]

How do I know if I am disputing with CRA or FCRA?  I did my dispute online (Equifax).  Is that CRA or FCRA?   Thanks

[llecs]

CRA is credit reporting agency (TU, EQ, EX).

FCRA is Fair Credit Reporting Act. The dispute is made to the CRA via the law (FCRA).

[Proverb]

Ok,  Where do I go to dispute directly with FCRA?  Thanks for your help.

[RobertEG]

You just send a letter directly to the party (OC or CA) who reported the disputed information to your credit file.  No CRA involvement.

Suggested lettter:

“This is a Notice of Direct Dispute with you, under the provisions of FCRA §623(a)(8)(D), of the accuracy of information you have reported to my credit file.

       ► (If sent to a debt collector, (CA), it might  be beneficial to also include the blurb:

       ►  This is a direct dispute of credit reporting. This is not a request for debt
              validation/verification  under FDCPA §809(b).
                  (don’t let them just simply sluff it off as a meaningless  DV letter)

“In compliance with FCRA §623(a)(8)(D), and enacting regulations published at  16 CFR § 660.4, this Notice of Direct dispute includes:

 “Identification of the specific information being disputed:

            (specify the account number, and the specific information that is disputed under

             that identifying account)

“Basis for the dispute:

            (how the reporting was inaccurate;    was any reporting in violation of any statutory or

             regulatory provisions?   account or express agreements?  CRA reporting gudelines?)

“Supporting documentation:

            (all documents that support your dispute; make sure to include,

             as part of your documentation, at least a copy of the portion only of your

             recent credit report showing their reporting of the disputed information was

              actually reported to your credit flle.  The implementing rule requires showing

               that it appeared in your credit report)

 “Under the provisions of FCRA §623(a)(8)(E) and 16 CFR §660.4,, you have the duty to review all of the information I have provided to you,  to complete your investigation of this Direct Dispute within 30-days of my Notice of Direct Dispute,  and report back to me the results of your investigation within 5-days of your completion of your investtigtion.” 

“Should you find the disputed information to be inaccurate or incomplete, or you cannot verify the accuracy or completeness of the disputed information, you are required, under FCRA 623(b)(1)(E), to promptly notify the credit reporting agencies of deletion of this information from my credit file.”

[Proverb]

I can't dispute with the CA it  has gone out of business.    What now?

[RobertEG]

Then, if you know that no CA response will come, that is a case where I recommend that you  dispute through the CRA under FCRA 611(a), requiring them to attempt to contact the now defunct CA, and if they dont get verifiication from the CA, then hold the CRA to the deletion requirements of FCRA 611(a)(5)(A).

If the furnisher of information did not repsond by reporting  a finding of accuracy back to the CRA with the 30-day period set under FCRA FCRA 623(b(2), and did not independently delete fthe information from your CR. then FCRA 611(a)(1)(A) compels the CRA to then delete the information.  Then the CRA must delete under their independent authority of FCRA 611(a)(1)(A).

FCRA 611(a)(5)(A).