If you know anything about credit repair and the Fair Credit Reporting Act, you know the bureaus are allowed 30 days to verify whatever minuscule details we are requesting. This protects you from dying of old age before getting a response, which no doubt would happen if they could get away with it. Let’s take a quick minute to examine the advantages we have with this 30-day response policy.
What’s actually happening behind the scenes is the bureaus are playing the middle man waiting for a response back from the creditors about a particular investigation.
It’s ultimately the creditors that have 30 days or less to respond to the bureaus, who in turn determine if that response is appropriate. We continuously see indications through our clients’ results that either no work or attempted work was done on our investigations. Simply, the account is now deleted, without any argument.
Was it because they discovered they dinged the wrong person, or they couldn’t find the details we were asking for, or perhaps they just didn’t get around to it in the timeframe they were allotted? They don’t divulge that information; but as office paperwork tends to stack higher than the Himalayas, letting documents age 30 days would appear to be the salient issue.
Also, consider government-related accounts such as judgments, bankruptcies, and tax liens: in your opinion, does the government operate at lightning speed, or are they slow as snails (like the DMV)?
It’s easy to see that when given only 30 days to complete a series of exquisite investigations into their misinformation–well, you can only guess what the result might be.
Many thanks to Jay O’Connor at National Credit Care for this insightful post.
National Credit Care
1499 W 121st Ave #300, Westminster, CO 80234
4 thoughts on “Professional Credit Expert’s Insight”
I thought the bureaus now had up to 45 days to respond, due to Covid-19? Am I mistaken?
Bridget, I thought that also; but it is now official that the 30-day rule stands.
Hello Carolyn, I had to drop you a quick note and a thank you. I purchased and read your book. I then followed your guidelines.This was about 3 years ago when I had a credit score of 580 due to medical bills and some wrong information on one account. Today my scores are 765, 755 and 740. I have learned so much from your books and emails, thank you so much. Knowledge is power. Credit is power. Being responsible is the utmost power because it’s power over yourself.
Denise S. Fischer, M.A., C P T. NASCPE CERTIFIED Certified Insurance Examiner PARAMEDEX PH: (954) 261-4722 FAX: (561) 355-0753 The information contained in this electronic mail message, including any attachments, may contain confidential health information that is privileged and legally protected from disclosure by federal law including the Health Insurance Portability and Accountability Act. This information is intended only for the use of the individual or entity named above. If you are not the intended recipient you are hereby notified that reading, disseminating, disclosing, distributing, copying, acting upon or otherwise using the information in this message is strictly prohibited. If you have received this communication in error, please notify the sender by reply transmission and delete the message without copying or disclosing it.
Thank you for this, Denise.