KCB Information Services 


FIVE WAYS WE CAN DISPUTE INFORMATION ON CONSUMER CREDIT REPORTS

There are four ways we can correct a credit report, pulled by one of our members, using our subscriber numbers. 

Any incorrect information on a credit report should be disputed.  That includes, incorrect SS#s, incorrect addresses, incorrect aliases, incorrect trade lines,  incorrect public records and inquiries.

First:  If our members use SERVICEPLUS  or MCL merged or mortgage report, on the right side of the screen, they can use: “VIEW REPORT.”  The section below that will say: “ADD-ON PRODUCTS.” And below that is: “Request Supplement.”  Just click on “Request Supplement.”   This process allows our members to send the dispute directly to us via the internet.

Members just need to click on the boxes next to the trade lines you wish us to verify.  There is also a space to report any other instructions or requests.

Consumers need to sign an Authorization Form in the Downloads link and fax it to us before we can dispute or verify the trade lines and employment.  If we are just updating your merged report we do not need any other information.

DOCUMENTS NEEDED TO DISPUTE INFORMATION ON AN EXPERIAN, TU OR EQUIFAX CREDIT REPORT:
We need a letter from the consumer explaining what is wrong.
A copy of your driver’s license.
A copy of your SS card.  Experian, TU and Equifax will not verify or change anything without positive proof that it is really the correct consumer disputing the information. Picture IDs can not be faxed. 
We are only able to correct credit reports pulled in the last 30 days.

Copies of Paid Receipts, Lien Releases, Judgment Releases and letters from creditors verifying the status, are needed and can speed up the dispute  process.

Once we have verified the information, we can change our report.  This report is only for in-house lending.  The corrected report can not be sent to Fannie or Freddie.

It usually takes 1 to 4 days to correct our credit report.

We can also verify employment and rental (landlord) payments and agreements.
In some cases, we can add information to our report from creditors not reporting to the three national bureaus.

Second:  Same as above, but  we file the dispute with the offending credit bureau(s).  It takes three to four weeks to correct incorrect information on TU, Experian or Equifax.  Information on the national bureaus can only be corrected.  We are not able to add new information from creditors who do not report to the national bureaus.

Third:  Our members can use Rapid Rescore.  We can get the information corrected on the offending credit bureau in 3 to 5 business days.  This is very expensive.  We need the same information as in the First step, plus the Rapid Rescore authorization.  The authorization is on our Members Documents page.

The consumer needs to sign an Authorization Form. This form is on our web page (and in our MCL Merged & Mortgage System.)  Just go to CREDIT PRODUCTS and click on “Member Documents.” The Loan Verification forms are near the bottom of the page.

Forth:  :  Same as number one, but the consumer contacts us directly.  We file the dispute with the offending credit bureau(s).  It takes three to four weeks to correct incorrect information on TU, Experian or Equifax.
 
If our member has pulled an Experian or Equifax credit report through us or using our numbers,  we can dispute the incorrect information for the consumer.

 
Only an authorized employees of our members can request verifications and updates to their reports.  Also, if the consumer comes to us to dispute a credit report pulled by one of our members, we can not contact their lender, with the results of the dispute.

There is a fifth way we can assist consumers directly.

If the consumer has obtained their credit report from another source, we can assist them in correcting their report.  Since it is not pulled from one of our members, we do not have direct access to the consumer’s file and there may be a fee to the consumer.

We can help them file a dispute with both the creditors and the credit bureaus.

11-5-12