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Topics addressed on February 2, 2011:
Accounts deleted after dispute could be returned to your credit report
I disputed an account and it was deleted because the lender didn’t respond in time. I just got a letter saying they are putting the account back on my report. Can they do that?
The Fair Credit Reporting Act allows 30 days for the dispute process to be completed. That process consists of the consumer contacting Experian, Experian then contacting the lender on behalf of the consumer, and the lender subsequently responding with the results of its investigation of the dispute.
The lender must respond within 30 days of Experian contacting it with the dispute. If it does not, Experian must delete or update the account.
However, the Fair Credit Reporting Act also recognized that there may be legitimate reasons for not completing the dispute process within that time frame. If the lender determines the account information is correct and should be returned to the credit history after 30 days has passed, it can do so.
The credit reporting company, in this case Experian, must notify you that the information is being restored to your credit report. The letter you received is that notification.
Thanks for asking.
- The "Ask Experian" team