According to The Fair Credit Reporting Act, all Credit Reporting Agencies have the responsibility to answer to customer disputes. Within 10 days upon receipt of a dispute letter, the credit agency must sent notice that an investigation has started.
The investigation can take place up to 30 days. Afterwards, the credit reporting agency must notify the complainant about the result of the investigation. If the details in dispute have been corrected, the credit bureau must also send an updated credit report, free of charge.
But what can you do if you do not receive any response from the credit reporting agency where you submitted your dispute letter to? Should you just ignore it and live with errors in your report? Surely not! The smart thing to do is to send a follow up letter.
How to Send a Follow Up Letter
Give the agency another opportunity to respond to your dispute. Although you have sent a letter, it is likely that your mail has been misplaced or lost due to the large bulk of requests that the agency receives each day.
In your follow up letter, inform the credit reporting agency that you have sent a credit dispute letter to their office and the date it was sent. Because you have not received any response, remind the agency of their duty to take action based upon The Fair Credit Reporting Act.
Tell straight that failing to respond is a clear violation of the Federal Law and that you intend to file a formal complaint to the FTC (Federal Trade Commission) if they still refuse to start an investigation on the matter.
The last part of your letter must say that you are resending a copy of your original credit dispute letter for their reference. Along with it, enclose copies of receipts or documents that support your claims.
The follow up dispute letter should be short, yet precise. You don’t need to make long introductions. Go straight to your point and tell the agency that you will wait for the immediate results of their investigation.
Consumers Must Take Action
What if you still do not receive any notice or response from the agency 15 days after sending the follow up dispute letter? In this case, file your complaint to the FTC. You can do so by calling FTC’s Consumer Response Center at toll-free 1-877-FTC-HELP (382-4357) or by sending a formal complaint letter via registered post mail at the following address:
Federal Trade Commission
CRC-240 Washington, D.C. 20580
You can also file a formal complaint online using the Online Complaint Form available from the FTC’s website.
Take note that filing a complaint to the FTC does not directly resolve your dispute. The FTC only gathers consumer complaints. Nevertheless, if it has received a considerable number of complaints, the FTC has the power to shut down the agency’s operations. To correct unresolved issues in your credit report, you can send a credit dispute letter to another bureau.