Under the FACT Act which passed in 2003, if a consumer pulls their annual free credit report to which they are entitled once a year, the credit bureaus have 45 days to investigate disputes rather than 30 days. Apparently, since it doesn’t specify which kind of time frame this can happen, it means FOREVER.
This also happened to me, I was doing a dispute with Equifax over a bogus tax lien on my credit report and the nice lady told me that it would take me 45 days for the investigation. WTF? The last time I pulled my free credit report (through annualcreditreport.com) was at least 2 years ago, and I’ve purchased numerous paid reports since then. Equifax also told me that 45 days was now “standard policy”.
I’ve heard through this discussion, that the “paid” credit reports you purchase actually go through annualcreditreport.com, so you are really screwing yourself by doing this. Read this discussion, you will be amazed!
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I’ve never heard of such a policy. All of the big three (experian, equifax, and transunion) all state on their sites that a dispute will take 30 days or less. I’ve assisted numerous individuals dispute inaccuracies without hearing of a “45″ day period. I think that policy might have been specific to the person helping you and not a company policy.