How Credit Bureaus Investigate Disputes

When you find inaccurate information on your credit report, it’s your responsibility to dispute it. Notably, inaccurate report affects your credit card history, and it will be in your best interest if you rectify the mistakes.

It starts with a call then series of letters to your mailbox inquiring about your dispute. It requires patience on your part because it takes a while before the bureaus complete the investigation.

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What Are These Credit Card Disputes?

A credit card dispute is a record of double entries or duplicate and accounts that you’ve previously paid for, but still appear as unpaid. This dispute lowers your credit card score, and it could be problematic when it comes to borrowing loans. 

What if you don’t want to report the dispute? Sometimes, you might be lucky and receive a loan even with a negative report. However, if it is discovered, you could be termed as a fraud.

Sometimes the mistake could come up if you have a similar name as someone else in your family or cases of identity theft. Unquestionably, it’s advisable to report such a situation to the bureaus.

Every financial organization you work with has to send a report to credit bureaus regarding how you pay bills. Consequently, the credit bureaus compile and include it on your credit report. So, every time you need a loan, a decision is made after the lender reviews the credit report.

Do Bureaus Investigate Credit Card Disputes?

Yes, a bureau is expected by the law to investigate your claims. When you present a complaint to the necessary body, that body must investigate your request for free and confirm if it’s true or not.

If the company behind the negative information on your credit card is unable to validate their claim, the report is deleted from your report.

The bureau should take not more than 30 days to investigate and an additional 15 days if you add more information to the initial claim. 

How Does The Bureau Work?

After receiving your claim, the bureau contacts the lender to check whether you owe them. If you do, the lender will provide evidence of the same. However, if the entries are as a result of someone else mistake and there is no evidence it’s you, it is enough for the bureau to delete the entry.

What If It Doesn’t Work?

If your complaint isn’t addressed the first time, you can do several things. First, collect all the notes based on your interaction with a bureau. Consequently, get evidence from the company that’s responsible for the negative report.

If the report is erroneous, the company will be more than willing to lend you evidence. If it’s not possible, appeal your case to the customer service representative. They will review your claim and delete the negative entry on your credit report.

If It Remains Unsolved, It Means One Of The Following Things

  • The lender who presented negative report has proven that the information is accurate.
  • The bureau has incomplete investigated information
  • The credit bureau deems your claim as frivolous
  • The bureau has refused to look into the matter

Can You Pursue The Dispute Further?

The bureau has the obligation of providing information on how they conducted their investigation. They should have proof of verification, and if they don’t, you can challenge them in court.

Alternatively, you can bypass the credit bureau and ask those responsible for furnishing the information to look at their records again. Sometimes the error in your report could be a result of the lousy entry into a computer system.

Indeed, the error has to be corrected by a human after verification of whether it is accurate or not. Ideally, it shouldn’t take long, but it does, and people have to deal with a situation as it is. Notably, you should consult with the consumer rights attorney to find whether your case is worth pursuing. 


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