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How long did your CFPB investigation take?

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nmjacobs
Contributor

How long did your CFPB investigation take?

I submitted a complaint against EQ on 12/6. They continue to list a trade line even though I disputed it and provided a letter from the CA. Status still just shows Company Review. How long did your investigation take?
Message 1 of 6
5 REPLIES 5
rmduhon
Valued Contributor

Re: How long did your CFPB investigation take?

What was your reason for dispute snd what letter did you provide?
Message 2 of 6
nmjacobs
Contributor

Re: How long did your CFPB investigation take?

I provided a letter from the creditor saying they will no longer report. I also sent it to both EX and TU and they deleted the collection. I've sent it twice to EQ and they delete it then add it back as a new collection and just update to verified.
Message 3 of 6
nmjacobs
Contributor

Re: How long did your CFPB investigation take?

I do realize this may also be an issue with the collector. I'll go after them if this doesn't work. It's set to come off in a year but it would be great if it came off sooner of course.
Message 4 of 6
tomfromrictmame
Frequent Contributor

Re: How long did your CFPB investigation take?

They have 30 days though it is not unusual for them to extend if they receive info from the furnisher that they need additional time to investigate.  Are you tracking this online?




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Message 5 of 6
RobertEG
Legendary Contributor

Re: How long did your CFPB investigation take?

If it is a reported collection that was the subject of your prior dispute, then a letter from the creditor would not be relevant to the reporting of the debt collector.

Additionally, the CRAs have a uniform policy that a collection is not to be deleted based on payment of the debt.

What is the stated basis for asserting that the collection should be deleted?   If it was that the debt was paid, then the CRA can contest that basis for deletion.

 

There is no apparent statutory basis requiring deletion of the collection.

Complaints to the CFPB are for review of non-compliance with a provision of statute or regulation.

I do not see a basis for CFPB intervention. 

 

There is no statutory period within which the CFPB must complete an investigation.

Lack of clarity as to the statutory basis for a complaint could result in confusion, and thus delay, in response.

Message 6 of 6
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