They have 30 days to respond, but they take their sweet time investigating.
Here's a really good article on repairing bad credit: http://www.ehow.com/how_5551631_raise-sc…
It also tells you how to get a free credit report, and explains why your score might be bad.
Yes, the credit bureaus have to delete information (correct or incorrect) information from your credit report if the information cannot be verified. This can be true for accurate information also. If you make a written request (or you can do so on-line to Equifax, Trans Union and Experian), the creditor who has placed information on your credit report has 30 days to respond and to either correct information, or validate that what they are reporting is accurate. If they cannot, this information has to be removed from your credit bureau report under the Fair Credit Reporting Act (FCRA). I have included two links below for you to review. The first one is a summary from Equifax on the FCRA, and the second is an 86 page document from the Fair Trade Commission that outlines the entire act.
Good luck to you!
The more correct statement is, The credit bureaus have 30-days to verify the information your disputing, Depending on whom your disputing against and how long old the derog's are will make a difference as to whether or not the creditor will verify the inquiry and it'll be left on your reports,
Good luck,
Yes it is true, however if you open a dispute using your free credit report then they can take up to 45 days.
If the item removed is accurate information, then do not be surprised to find that the account is added back to your credit report.
Yes and no. Credit bureaus must respond to any letter they receive about a report error within 30 days. If they find there was an error, it might take substantially longer to have that error removed because records may be updated at 30-60-90 days.
No. If you dispute an item they ask the creditor to verify it. If it cannot be verified it is removed. However, legit items can almost never be removed this way.