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Okay, so you found information in your credit report that was wrong. You disputed the errors with the three major credit reporting agencies. You also filed a dispute with the credit reporting company that furnished the erroneous information.
Now you’ve received the results of the investigation into your dispute, and you did not get the resolution you requested. Depending on the reasons given for not making the corrections you requested, you have additional rights under federal law. What follows is a discussion of the actions a consumer may take after an unsuccessful credit report dispute. Contact our Florida credit report error attorneys today to review your case and explore the best options for protecting your financial future.
Credit reporting agencies reject consumer disputes when there is not enough evidence available to convince them that the consumer is correct or if the disputed issues aren’t adequately described. Disputes will also be rejected if the credit reporting agency confirms the accuracy of the disputed information. Here are some next steps to take if you disagree with the resolution of your dispute.
Credit reporting agencies are required by the Fair Credit Reporting Act (FCRA) to conduct a reasonable investigation into consumer disputes unless the dispute is deemed frivolous. A dispute may be considered frivolous because the disputing party didn’t provide sufficient information to enable an investigation.
Review the reasons given for rejecting your dispute and file the dispute again, including copies of all relevant documents and any other information that was requested.
The law allows consumers to explain their position on unresolved disputed matters in a brief statement that will become a part of their credit report. Each credit reporting agency has a process for adding a consumer statement. In cases where inaccurate information stems from fraud, such as credit card fraud, working with an experienced attorney can help protect your rights and strengthen your dispute.
Statements are generally limited to 100 words, so they need to be deliberate and concise. Once a statement is added to a credit report, it remains until it is removed by the consumer.
Consumers can request a credit reporting agency forward the statement to anyone who has received their credit report in the last 6 months or the last 2 years if a credit report was furnished for employment purposes.
The Consumer Financial Protection Bureau (CFPB) has primary authority to enforce federal consumer financial laws, including the Fair Credit Reporting Act, and handles about 50,000 complaints each week. Consumers can complete and submit complaints online in about 10 minutes.
Before filing a complaint, consumers should be prepared to provide the following information:
The complaint will be forwarded to the appropriate company for a response. Average response time is about 15 days.
Your credit report is your financial identity, and having it contain inaccurate information can cost you a mortgage loan or a job opportunity. Consumers have the right to have their credit reports contain only accurate information. Given the reliance on information in credit reports, an accurate credit report is well worth fighting for.
If you have disputed items in your credit report and have not been able to resolve the issues successfully, a free consultation with a premier credit report and ID theft attorney can help you decide whether bringing a lawsuit is the best option.
Find out in 3 easy steps if you have a case.
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