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Do Credit Agencies have a deadline??

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Regular Contributor

Do Credit Agencies have a deadline??

I know company have a deadline to respond to credit agencies. But do the credit agencies have a deadline too?? I sent a dispute letter to Experian  and Equifax  certified mail. Both have been delivered according to USPS. But both agencies are saying that they have no record of it.  I spoke to a rep at Experian  who told me that they are not under any deadline to start a investigation that they have not received. I asked him Even if I have a certified letter saying that you got it? He said yes. Is this true? He wanting to start a dispute over the phone but I told him no. I ask to speak to his manager. He refused to transfer me. And asked me for a reason why I wanted to speak to a manager. I started out being polite until a few minutes had passed and he still refused to transfer me until I gave him a " Reason". So I told him to complain about my poor customer service. He placed me on hold for a while and came back to say. There were no available supervisors to speak with. He said he wrote a email for a supervisor to call me back when they had a chance. I hate credit!!! Can someone shine some light on this question. While I calm down from dealing with that call.  

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Regular Contributor

Re: Do Credit Agencies have a deadline??

Hello.

 

So sorry you had to go through that experience but even the strongest amongst us would be tested by the foreign CSRs at Equifax.

 

I had problems with my EQ report that lasted over 4months on two different occasions and what I discovered after calling a combined 30+ different times and sending hardcopy docs 5 different times, was that it is a pretty compartmentalized organization and the different departments work pretty much in silos, so one part doesn't know what the other is doing in real-time. It takes a lot of patience to get anything done there.

 

The CSR you spoke with was probably in Mumbai somewhere while the hard copy docs you sent, would be in Atlanta here in the US, so until the Atlanta focus decide to update your internal records with the latest docs you sent those on the other side of the world wouldn't know what you're talking about and they have no way of finding out except to tell you to call back within the next 48 hours.

 

Unfortunately(i might be wrong) there is really no deadline for them to treat your dispute save the timelines their internal policies set. Its a pretty sad organization but I will advise you call back again when you cool off, hopefully, you get another rep. Explain your situation, then ask "politely" to be connected to a supervisor "cause you are not satisfied with the handling of your inquiry".

 

Whatever comes just be patient and just keep calling consistently until you get the desired result. hope this helps.




Message 2 of 5
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Moderator

Re: Do Credit Agencies have a deadline??


@DR527 wrote:

I know company have a deadline to respond to credit agencies. But do the credit agencies have a deadline too?? I sent a dispute letter to Experian  and Equifax  certified mail. Both have been delivered according to USPS. But both agencies are saying that they have no record of it.  I spoke to a rep at Experian  who told me that they are not under any deadline to start a investigation that they have not received. I asked him Even if I have a certified letter saying that you got it? He said yes. Is this true? He wanting to start a dispute over the phone but I told him no. I ask to speak to his manager. He refused to transfer me. And asked me for a reason why I wanted to speak to a manager. I started out being polite until a few minutes had passed and he still refused to transfer me until I gave him a " Reason". So I told him to complain about my poor customer service. He placed me on hold for a while and came back to say. There were no available supervisors to speak with. He said he wrote a email for a supervisor to call me back when they had a chance. I hate credit!!! Can someone shine some light on this question. While I calm down from dealing with that call.  


 

How long has it been since someone signed for it till the time you called? 

I told my teens yesterday I'm done repeating myself. Darwin, take the wheel, please.
Message 3 of 5
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Regular Contributor

Re: Do Credit Agencies have a deadline??

Two weeks

Message 4 of 5
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Legendary Contributor

Re: Do Credit Agencies have a deadline??

A CRA must complete its reinvestigation "before the end of the 30-day period beginning on the date on which the agency receives the notice of dispute from the consumer or reseller."  FCRA 611(a)(1)(A).

 

The CRA must then send its Notice of Results of Reinvestigation to the consumer "not later than 5 business days after the completion of the reinvestigation."  FCRA 611(6)(A),

 

The only exception to the above is if the CRA, upon receipt of the notice of dispute, determines that the dispute is "frivolous or irrelevant," which then permits them to dismiss the dispute without reinvestigation.  FCRA 611(a)(3)(A).

However, if a CRA dismisses a dispute as "frivolous or irrelevant," they must send written notice to the consumer stating their reasons for that finding.  FCRA 611(a)(3)(B) and (C).

 

All of the above, however, is clearly contingent upon receipt of the dispute by the CRA.

If a CRA is asserting non-receipt, then the above provisions would not apply, as there would be no date of receipt.

 

If you have evidence that the CRA actually received your dispute and are refusing to comply with the above periods set forth under the statute, you can pursue administratively by filing a complaint with the CFPB, or you can file your own civil action asserting willful noncompliance with the statute.

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