Question RE:CRA disputes

Discussion in 'Credit Talk' started by Thee One, Sep 19, 2003.

  1. Thee One

    Thee One Well-Known Member

    When you dispute an item with the CRA they must mark the item as being disputed correct?

    If they do not is it a suable violation?

    I disputed with EQ earlier this week, I subscribe to the creditwatch service, I have yet to see either of those accounts marked as disputed, reinvestigation in progress.
     
  2. lbrown59

    lbrown59 Well-Known Member

    I disputed with EQ earlier this week, I subscribe to the creditwatch service, I have yet to see either of those accounts marked as disputed, reinvestigation in progress.
     
  3. Thee One

    Thee One Well-Known Member

    I've since found what I think the answer is. Per this FTC opinion letter :
    http://www.ftc.gov/os/statutes/fcra/cohan2.htm

    This is the part that pertains:
    Is a re-seller required to comply with Section 611(a)(1) when the re-seller is unable to investigate the information that a consumer disputed?(3)

    (Emphasis in original)

    Yes. Section 611(a)(1) requires the consumer reporting agency, upon dispute by the consumer of the completeness or accuracy of any item of information, to "reinvestigate . . . and record the current status of the disputed information, or delete the item from the file" if it cannot be verified within 30 days. Section 611(a)(2) requires prompt notice to the furnisher of information of a consumer dispute. The furnisher's responsibility to conduct an investigation of disputed information, imposed in Section 623, is a discrete requirement, separate from the CRA's obligation to record the current status or delete unverified information. Thus, if the furnisher fails or refuses to conduct an investigation (which may constitute a separate violation of the FCRA by the furnisher), the CRA must still comply with Section 611.


    So yes the CRA is required to mark the TL as 'in dispute' or be in violation of Section 611(a)(1) of the FCRA.

    From here, I intend to print a daily copy of my CR from EQ, luckily I have creditwatch, and once the 30 day time limit is over, send an ITS for deletions and/or money for violations of the above.

    Hope this helps someone.
     

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