What happens if a consumer disputes information in their report?

When a consumer disputes information in their credit report, the Fair Credit Reporting Act (FCRA) mandates that the consumer reporting agency must conduct an investigation into the dispute within a specific timeframe, which is 30 days. This process is designed to ensure that consumers have a right to ensure the accuracy and fairness of the information that is being reported about them. During this investigation, the agency will typically review the disputed information, along with any documentation provided by the consumer to support their claim.

This requirement demonstrates the consumer's rights under the FCRA, promoting accountability in how consumer information is managed and providing a mechanism for correction if errors are found. If the agency finds that the information is inaccurate, it will be corrected or deleted from the consumer's report, further reinforcing the importance of the investigation process in maintaining accurate credit reporting standards.