Illinois Result of Investigation of Disputed Credit Information and Disclosure of Consumer Rights in Event of Continued Dispute

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Under the Fair Credit Reporting Act, if a consumer disputes the completeness or accuracy of any item of information in the consumer's file, and the dispute is directly conveyed to the consumer reporting agency by the consumer, the reporting agency must, free of charge, conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate, unless it has reasonable grounds to believe that the dispute is frivolous or irrelevant. If the information is erroneous, inaccurate, or can no longer be verified, the credit reporting agency must promptly correct or delete it and refrain from reporting the information in subsequent consumer reports.


Following any deletion of information or notation as to disputed information, the agency, on request of the consumer, must furnish to certain persons either: (1) notification of the deletion; or (2) the consumer's statement of the dispute or the agency's summary of the statement. The consumer reporting agency must clearly and conspicuously disclose the consumer's rights to make such a request, such disclosure to be made at or prior to the time the information is deleted or the consumer's statement regarding the disputed information is received.

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FAQ

If a dispute is found to be frivolous or irrelevant, you must notify the consumer within five business days after making the determination. This notice can be a form letter.

For example, disputes relating to whether there is or has been identity theft or fraud against the consumer, whether there is individual or joint liability on an account, or whether the consumer is an authorized user of a credit account; the terms of a credit account or other debt with you.

If you file a dispute to correct what you believe is an inaccuracy on your credit report, the credit bureau you notify must complete an investigation within 30 days (or 45 days in certain circumstances), ing to the U.S. Fair Credit Reporting Act.

Upon receiving a consumer's proper notice of dispute, the furnisher must conduct a reasonable investigation of the dispute. The furnisher also must review all relevant information provided by the consumer with the dispute notice.

The FCRA requires the national credit bureaus to complete dispute investigations within 30 to 45 days, as follows: 30 days: Credit bureaus (referred to in the FCRA as credit reporting companies) must investigate and resolve disputes within 30 days of receiving them.

Upon making a determination that a dispute is frivolous or irrelevant, the furnisher must notify the consumer of the determination not later than five business days after making the determination, by mail or, if authorized by the consumer for that purpose, by any other means available to the furnisher.

If you file a dispute to correct what you believe is an inaccuracy on your credit report, the credit bureau you notify must complete an investigation within 30 days (or 45 days in certain circumstances), ing to the U.S. Fair Credit Reporting Act.

Under the Fair Credit Reporting Act, the CRA has a certain amount of time?generally 30 days but up to 45 days in certain circumstances?to resolve a dispute. If the item cannot be verified by the creditor within the time frame, it will be removed from the report.

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Illinois Result of Investigation of Disputed Credit Information and Disclosure of Consumer Rights in Event of Continued Dispute