Section 611 (a)(1)(A)of the FCRA says, in a nutshell, that the CB has 30 days from receipt of the dispute from the consumer to investigate and report the update. Section (a)(1)(B) talks about a 15 day extension on that, but only if the consumer contacts the CB and gives other relevant information about the dispute. However, Section 612 (a)(3) says: 3) Reinvestigations. Notwithstanding the time periods specified in section 611(a)(1), a reinvestigation under that section by a consumer reporting agency upon a request of a consumer that is made after receiving a consumer report under this subsection shall be completed not later than 45 days after the date on which the request is received. I wasn't aware of this until recently when speaking with a CB about a dispute that went a number of days over 30 and came back verified. Can someone shed some light?
If the CR is a FACTA Free Annual Credit Report, that dispute is allowed a bonus 15 days, because that CR is mandated for everyone. A CR obtained any other way, including public assistance, denial, unemployment.
Disputed same account multiple times. Original dispute was from the free report. Subsequent's were from the Investigation Update section of the report (don't have it in front of me to see specific name). I guess it would fall under the FACR?
