How Long Do Credit Bureaus Have to Correct an Error?

Discovering an error on your credit report can be alarming. Whether it’s an account you never opened, a payment wrongly reported as late, or a balance that doesn’t match your records, credit reporting mistakes can have serious consequences. Errors can lower your credit score, increase your interest rates, and even hurt your chances of getting approved for a loan or a rental. Fortunately, you have rights under federal law. Continue reading and reach out to a seasoned credit reporting error lawyer from Cook Law to learn about how long credit bureaus have to fix these errors once you report them, and how our firm can help.

What is the Timeline for Credit Bureaus to Investigate an Error?

Under the Fair Credit Reporting Act (FCRA), credit bureaus such as Equifax, Experian, and TransUnion are required to investigate disputes within 30 days of receiving your complaint. In some situations, that period may extend to 45 days, particularly if you submit additional relevant information during the investigation. The timeline begins the moment the bureau receives your dispute in writing or electronically.

During the investigation, the credit bureau will reach out to the lender or creditor that provided the information. They are required to forward the evidence you supplied to support your claim. Once the creditor responds, the credit bureau must determine whether the data should be corrected, deleted, or verified as accurate. Although this process can seem invisible to the consumer, it is happening behind the scenes and is governed by strict legal deadlines.

What Happens After the Credit Bureau Completes the Investigation?

Once the credit bureau wraps up its investigation, it must inform you of the outcome promptly. You should receive the results within five business days after the investigation concludes. If the bureau finds that the information on your credit report was indeed incorrect or incomplete, it must remove or correct the error without delay. In most cases, you will also be entitled to receive a free copy of your updated credit report so you can confirm the changes were made.

It’s important to note that if the bureau determines the disputed information is accurate, the item will remain on your credit report. However, you do have the right to add a brief statement to your report explaining the dispute, which could help provide context to future lenders.

What Should You Do if the Error is Not Fixed?

If the credit bureau fails to correct a verified error within the required timeframe, or if the results of the investigation are unsatisfactory, you have options. You can file a complaint with the Consumer Financial Protection Bureau (CFPB), or you may choose to seek legal assistance. A consumer protection attorney can help you pursue further remedies, including potential damages if the credit bureau violated your rights under the FCRA.

The key is to act quickly and keep thorough records of all correspondence, reports, and evidence. Having a paper trail will strengthen your case, whether you are continuing to work with the credit bureaus directly or considering legal action.

If you have additional questions or would like to pursue a claim for a credit reporting error, simply contact Cook Law for an initial consultation today.