Credit Agency Response Period – How Long Do I Wait?
The credit bureaus are somewhat of a lifeline to your credit score. They’re also the entities that you need to take up errors on your credit report with. It’s estimated that as many as one out of every three Americans has an error on their credit report, errors which can negatively impact one’s score and purchasing ability. However, it’s possible to dispute negative items or errors on a credit report, a process that consists of corresponding via mail.
But just how long does it take to hear back from the credit bureaus on such issues? Here’s a timeline of what you can expect for the credit agency response period:
Credit Agency Response Period – How long does it take?
- After your initial mailing, you should initially hear back from the credit bureaus within a couple of weeks. However, this initial response is usually not a resolution to the issue you presented. Generally, it’s more of a confirmation that they’ve received your correspondence and are investigating the matter. (You might also choose to send the letter with a return receipt requested so you can confirm that it was received.) It’s worth noting that a credit bureau has to respond to your inquiry within 30 days, or they must remove the negative item listed, per Fair Credit Reporting Act regulations.
- A credit bureau’s investigation cycle, including mailing of the findings, usually takes about 45 days.