You might believe that credit companies report accurate information on your credit report, which they definitely should, but we don’t live in a perfect world.
If you have received a discouraging response to your dispute, you’re not alone.
Credit companies use several tactics to evade credit disputes. One of the most common tactics is to stall the process in order to discourage the consumer from repairing their credit.
Why Do They Do This?
The credit dispute investigation is costly for the creditors and the bureaus. To avoid these costs, they exercise every trick in the book to nip the dispute in the bud. Their main goal is to irritate and deter the consumer into dropping the dispute.
What Stall Tactics Do Credit Companies Use?
“We have received a suspicious request”
When a formal credit dispute is filed, a credit company may respond by flagging your credit request as “suspicious”. They stall the process by claiming that the credit dispute was not filed by you, hence they will not be taking any further action.
“We found this dispute to be frivolous”
Credit companies base this stall tactic on section 611 of the Fair Credit Reporting Act (FCRA), which enables them to terminate a reinvestigation request by a consumer if the agency can reasonably conclude that the dispute is frivolous or irrelevant. More often than not they don’t even inform you about how they came to this conclusion.
Some other common stall tactics are;
They may also stall the process by claiming that the dispute you filed was not legible. Always be sure to be very clear in your request and provide all the necessary information.
Another stall tactic used by credit companies is to request additional documents to verify the identity of the customer. This delays the process due to the time it will take for you to procure the required documents, and then for them to verify. Make sure to have all documents at hand to avoid long delays.
How Do I Deal With Their Stall Tactics?
Such disappointing responses can discourage you into giving up, but don’t let them win! These responses are expected at some stage of the dispute process.
Credit Repair Organizations are well-versed with the various stall tactics used by credit companies. Partnering with a Credit Repair Organization is a smart way to save your time and effort.
Credit Boosta is a fully registered, licensed, and bonded Credit Repair Organization. All of our processes meet and/or exceed all Federal and State Laws. We have letters that respond back to the credit reporting agencies to move the process along under your rights under the Fair Credit Reporting Act. Moreover, we have a community of industry-renowned credit experts to help you deal with any situation.
Partner with Credit Boosta today to repair your credit. Contact us at 833-496-4400 or visit our website at www.CreditBoosta.com.