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If
a CRA notifies a furnisher that a consumer disputes the
completeness or accuracy of information provided by the
furnisher, the furnisher has a duty to follow certain procedures.
The furnisher must:
1.
Conduct an investigation and review all relevant information
provided by theCRA, including information given to the CRA
by the consumer.
2.
Report the results to the CRA that referred the dispute,
and, if the investigationestablishes that the information
was, in fact, incomplete or inaccurate, report theresults
to all CRAs to which the furnisher provided the information
that compileand maintain files on a nationwide basis.
3.
Complete the above steps within 30 days from the date the
CRA receives the dispute (or 45 days, if the consumer later
provides relevant additional information to the CRA).
4.
Promptly modify or delete the information, or block its
reporting.
5.
Take steps 1, 2 and 4
6.
Take steps 1, 2, 3 and 4
7.
Continue to report the information with a notation that
the consumer disputes the information
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