Credit Report Verification Time
2010
Disputing credit?
I recently heard that there might be a way to dispute things on your credit report, even if they are legitimate. A co-worker said that you can dispute something and the credit bureau will send something to the creditor asking for verification. And if the creditor doesn’t respond within a certain amount of time (i think she said 30 days) then the credit bureau automatically removes it. And you can re-dispute every 30 days without penalty. She said that there isn’t any harm in doing it because you dont get into trouble if the creditor does respond saying that it is correct and that I should keep trying …
Just want to know if anyone has heard or better yet experienced this and if so, is this true?! Cause this almost sounds way too good to be true!
Your friend is misinformed. Yes you can, and should, dispute any incorrect information on your credit report. It is also true that they have 30 days(in most cases) to investigate it. If the debt does not get validated in that time it is removed.
However, here is where she is wrong. If it later gets validated after the time it can go right back on the report. Also, if you do disputes like this the credit reporting agency can consider any and/or all of your future disputes frivolous. Once they do that they no longer have to follow the same guidelines in getting verification.
Lily Allen – Everthing’s Just Wonderful
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