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How does an equifax online dispute w/ creditors actually work?*
I've heard different things..make it simple for me, please. Okay, say I dispute a neg. credit on my report&Equifax investigates.IF the company that filed a negative report doesn't get back within a certain time limit confirming, is it erased? Eradicated? Or after a certain amount of months, I could dispute again&see if they make the deadline? Please clarify for me, if u can.
Answers:
1) Equifax will contact the company that reported the negative information. They will require that company to provide proof to you that it is legitimate. If they are unable to provide this information, it will then be removed from your credit report. Equifax gives them a time frame, I think like 30 or 60 days. And if they do not even contact Equifax in that time frame, it will be removed. If the item is really old, like 4 years, there is a good chance they have no records and it will be removed.
2) Hi, By law they must respond within 30 days, but they will usually send you what I call a stall letter. Like this " We are investigating your dispute and will notify you once we have results" or some other BS . This gives them more time to reply with the standard " Verified as Accurate". If it is verified as accurate it can remain on your file for 7 years, I have personally given up with my own disputes, as I get no where with the credit bureau's. This is a game they play, unless you have documented proof positive, the report is an error, they will usually verify as accurate, or correct as reported. You can dispute again, but it will only cause you more pain. They keep changing the terminology & rules to keep the consumer confused and frustrated. I let a professional Law Firm challenge my negative credit accounts. Good Luck For more info check out my website:
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