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Expert Q&A Archive

04/17/2008
Resolving disputes in your credit report.
How long does a creditor have to respond/investigate a dispute on your credit report after you have reported it to the credit agency and creditor?

Joan Koonce, Ph.D:
expert info »
Once a person has notified the credit reporting agency of the dispute, the credit reporting agency has 30 business days to investigate the dispute.
Sharon P. Hardy, CFE:
expert info »
If I remember correctly, I believe the correct answer is once notification of a discrepancy is reported to the credit agency and creditor, an investigation has to commence within [thirty] days from the date that it was actually reported.

[Editors note: According to the federal Fair Credit Reporting Act (FCRA), consumer reporting companies must investigate the items in question usually within 30 days. See "How to dispute Credit Report Errors" @ http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.shtm
Gerri Detweiler:
expert info »
Typically the lender or credit reporting agency has thirty days to respond to your dispute,
unless you supply additional information during the investigation process. Practically speaking,
online disputes are often handled in a couple of weeks -- sometimes faster.