What are consumer disputes?
The Fair Credit Reporting Act, the federal law that regulates credit reporting activities, gives all consumers the legal right to dispute possible inaccuracies on their credit report and outlines the steps to be taken in the reinvestigation of any possible inaccuracies. The credit bureau is required to reverify items in question with the creditor at no cost to the consumer. The law requires that reinvestigations be responded to within 30 days. After the reinvestigation is complete, the credit reporting agency notifies the consumer of the outcome. If information in the report has been changed or deleted, the consumer is also sent a free copy of their revised report. Specifically § 611 of the Fair Credit Reporting Act governs procedures in case of disputed accuracy.
Related Questions
- A patient who took treatment in a hospital files a complaint before the District Consumer Disputes Redressal Forum and awarded one lakh. Who has to pay whether the doctor or hospital?
- How does TRUSTe handle privacy disputes that a consumer has with TRUSTe-licensed sites?
- How Do You Solve Disputes Through Mediation And Arbitration?
