How Credit Bureaus Process Disputes
If you have ever wondered how credit bureaus process your credit disputes, you will want to read this article. Specifically, we will be discussing the three methods that the credit bureaus use to verify your credit disputes, paying special attention to the method that is used most often. After reading this article, you should have a clear idea of how your credit disputes are handled and be ready to begin credit score repair.
The credit bureaus are required by law to verify any information that you dispute the validity of. They have three options of how they do this. They can verify the information by phone or by mail. Unfortunately, this does not happen much anymore. Most commonly, your credit disputes will be managed by a system called E-Oscar.
E-Oscar is a system that supports “Automatic Credit Dispute Verification” or ACDV. It is an automated system that allows creditors and the three credit bureaus to manage credit disputes electronically.
What you need to be aware of is that in many cases, the credit bureaus are not actually verifying anything. They are merely taking the creditors word for it. In fact, your dispute will be drilled down to a two digit code before it is ever sent to the creditors. They almost never see any supporting documentation or get to read the letters you send.
While this can drag out the credit restoration process, if you understand the system and the laws, you can use this to your advantage. Honestly, is taking the creditors word for it with no actual proof a “reasonable investigation”? The courts have said no more than once.
By understand that your verified account was not actually verified, you can move on to more aggressive and advanced tactics to clean your credit. It is your right to push the credit bureaus to show you how they verified the information. When they inform you that they have not actually spoken with the creditor you can request a new dispute to be open and proceed to forced verification directly with the creditor.
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