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One reporting agency is very slow to process the information I need for me to complete the work my clients need. We all know that threatening won't work with these people. What has worked for you in busness to acheive better results in similar cases?

2007-05-08 05:18:24 · 3 answers · asked by Rabbit 5 in Business & Finance Credit

3 answers

The wording in your letter implies that you are adding/changing information and not "disputing or repairing" credit information....right?

If this is a dispute, and you are trying to fix something, the credit bureau is under strict rules applied by the Fair Credit Reporting Act, and the Fair and Accurate Reporting Act. They must complete the investigation/changes within 30 days of receiving the dispute.

So try this. Run down to the courthouse and get a blank copy of a small claims suit. Many states have them available on line to download. If you need wording contact me. Fill it out, and send it to the credit bureau along with a letter reminding them of the time period. Inform them they have 5 days to fix the errors, or you will file the lawsuit.

The reason creditors get away with what they are doing is because they depend on the fact you don't know or understand the law. Once you demonstrate that you do, and are prepared to exercise your rights, you will be amazed at how fast things move along.

2007-05-08 05:58:12 · answer #1 · answered by Anonymous · 2 0

The credit bureaus only have 30 days to conduct and complete an investigation. If they are outside of these rules, you have the right to report them to the FTC. In cases like that, I have helped my clients write a letter to the bureau reminding them of the original material sent, the date it was sent and the fact that they are over the thirty days. I also indicate that they will be reported to the FTC if the client does not hear from the bureau within 7 business days. That usually gets a quick response.

2007-05-08 05:34:15 · answer #2 · answered by YSIC 7 · 1 0

Nothing that I know of.

The credit bureaus take their own sweet time processing requests simply because they know that they can.

2007-05-08 05:28:58 · answer #3 · answered by ? 7 · 0 0

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