As an employee or job applicant, you want to have a good credit rating when a company runs a background check. If you learn that there is an unsettled debt in your credit report despite being an honest borrower, you can dispute it with the credit bureau.
However, matters can become more complex when you find out that the bureau has verified your dispute. This may feel final, but there is a pathway for you to solve the issue. Here is how you can regain control of your financial reputation.
Request to see their verification
Under the Fair Credit Reporting Act (FCRA), you have the right to request a description of the procedure used by the credit bureau to verify the disputed information. After receiving a dispute verification, you may send a letter and ask for the name of the person they contacted, the date and the documents reviewed.
If you are not receiving any response from the credit bureau, file a dispute with the creditor or collection agency that reported the debt. The FCRA prohibits banks and lenders from reporting information they know or should know is incorrect.
Build a paper trail with the government
File an official complaint with the Consumer Financial Protection Bureau (CFPB) on the website, attaching your original dispute letters and the bureau’s verification response. Filing a complaint through the CFPB portal typically pressures the bureau to review and respond within 15 days under agency administrative protocols.
Your legal pathway against systemic failures
If a credit bureau or creditor willfully or negligently fails to investigate your legitimate dispute, they are violating federal law. You have the legal right to sue them for damages, emotional distress and even your attorney’s fees. Seeking an experienced lawyer for counsel is wise.