902. What exactly will the credit bureau do with my correction?
Description
This article is from the Credit cards and Consumer Credit FAQ, by adams@spss.com (Steve Adams) with numerous contributions by others.
902. What exactly will the credit bureau do with my correction?
Normally, they send a message to the credit grantor that originally
reported the item to ask if it's correct. (However, see the
preceding Q for an exception.) If the credit grantor says the
information is wrong, the credit bureau corrects it. If the credit
grantor doesn't respond, the credit bureau may delete the item. If
the credit grantor says the item is correct, the bureau will tell
you.
There is currently no Federal law setting deadlines for the credit
bureau to respond to you. However, in the consent decree filed 10
Dec 1991, TRW promised to "verify, delete, or modify any disputed
information in a credit report within 30 days after it receives a
complaint."
There is also currently no way to be sure that a wrong item, once
deleted, won't reappear later. (In the consent decree of 10 Dec
1991, TRW promised to change its software so that erroneous items
won't come back in subsequent reports.)
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