Why does the CFPB allow more time than FTC?

[ndkblondie]

I just received a response from the fight with LVNV regarding my complaint I filed 15 days ago with the CFPB.  It says, the company is working on your response and you should hear from them within the next 60 days.  

Why doesn't the CFPB have to adhere to the 30 day investigation rules?  Why are they allowing these stall tactics and time to fabricate bs paperwork?  The same crap happened with my CFPB complaint against Portfolio, they used the time to re-create a letter they said they sent me.  The content was the same but it was on completely different letterhead, different type, etc.  

Arghhhhh!

[guiness56]

Not sure.  But when the creditor tells them they need more time they give it to them.

[RobertEG]

There is no "reinvestigation" by the FTC or CFPB.

The 30-day reinvestigation period set forth in FCRA 611 applies to the time that a CRA must complete its investigation of a dispute.

When you contact either the FTC or CFPB you are filing a separate, formal complaint under FCRA 621, asserting some non-compliance with a provision of the FCRA.

It is not a formal part of the dispute process itself.

[ndkblondie]

Thanks for clearing that up but should they be getting the original 15-30 days PLUS another 60 just for asking for it?  That's 75-90 days!  This seems like highway robbery to me.  

[RobertEG]

It's their administrative process, so they can determine what is equitable.

[Rain77]

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@ndkblondie wrote:

Thanks for clearing that up but should they be getting the original 15-30 days PLUS another 60 just for asking for it?  That's 75-90 days!  This seems like highway robbery to me.  

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I was a bit annoyed with the 60 day wait too.  First time filing a complaint so didn't know what to expect.  Hopefully the issue gets resolved sooner.  Good luck, hope you get the results you want.

[fixmycred14]

Do you mind sharing the outcome of your dispute? Thanks.

[Rain77]

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@fixmycred14 wrote:

Do you mind sharing the outcome of your dispute? Thanks.

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I certainly will.