The K-LAK Corporation and it's employees, affiliates, divisions and/or subcontractors and Subscriber's shall comply with the Federal Fair Credit Reporting Act (FCRA); Enacted October 26, 1970; Reform Act of 1996 and Last amended June 30, 2003, § 611, 15 U.S.C. § 1681i).
K-LAK Corporation will investigate and view the current status of a consumer file, if that consumer disputes the information on their file within 30 days from the date of the call. The consumer must show proof that the information on file is inaccurate. All disputes must be in writing along proof that support his/her claim(s). No claim(s) will be consider if the disputes is frivolous or irrelevant.
§1681i. Procedure in case of disputed accuracy (Section 611)
Reinvestigations of disputed information.
- Reinvestigation required.
- If the completeness or accuracy of any item of information contained in a consumer's file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly of such dispute, the agency shall reinvestigate free of charge and record the current status of the disputed information, or delete the item from the file in accordance with paragraph (5), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer.
- Except as provided in subparagraph (C), the 30-day period described in subparagraph (A) may be extended for not more than 15 additional days if the consumer reporting agency receives information from the consumer during that 30-day period that is relevant to the reinvestigation.
- Subparagraph (B) shall not apply to any reinvestigation in which, during the 30-day period described in subparagraph (A), the information that is the subject of the reinvestigation is found to be inaccurate or incomplete or the consumer reporting agency determines that the information cannot be verified.
- Prompt notice of dispute to furnisher of information.
- Before the expiration of the 5-business-day period beginning on the date on which a consumer reporting agency receives notice of a dispute from any consumer in accordance with paragraph (1), the agency shall provide notification of the dispute to any person who provided any item of information in dispute, at the address and in the manner established with the person. The notice shall include all relevant information regarding the dispute that the agency has received from the consumer.
- The consumer reporting agency shall promptly provide to the person who provided the information in dispute all relevant information regarding the dispute that is received by the agency from the consumer after the period referred to in subparagraph (A) and before the end of the period referred to in paragraph (1)(A).
- Determination that dispute is frivolous or irrelevant.
- Notwithstanding paragraph (1), a consumer reporting agency may terminate a reinvestigation of information disputed by a consumer under that paragraph if the agency reasonable determines that the dispute by the consumer is frivolous or irrelevant, including by reason of a failure by a consumer to provide sufficient information to investigate the dispute information.
- Upon making any determination in accordance with subparagraph (A) that a dispute is frivolous or irrelevant, a consumer reporting agency shall notify the consumer of such determination not later than 5 business days after making such determination, by mail or, if authorized by the consumer for that purpose, by any other means available to the agency.
- A notice under subparagraph (B) shall include
- the reasons for the determination under subparagraph (A); and
- identification of any information required to investigate the dispute information, which may consist of a standardized form describing the general nature of such information.
- Treatment of inaccurate or unverifiable information.
- If, after any reinvestigation under paragraph (1) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or cannot be verified, the consumer reporting agency shall promptly delete that item of information from the consumer's file or modify that item of information, as appropriate, based on the results of the reinvestigation.
- Requirements relating to reinsertion of previously deleted material.
- If any information is deleted from a consumer's file pursuant to subparagraph (A), the information may not be reinserted in the file by the consumer reporting agency unless the person who furnishes the information certifies that the information is complete and accurate.
- If any information that has been deleted from a consumer's file pursuant to subparagraph (A) is reinserted in the file, the consumer reporting agency shall notify the consumer of the reinsertion in writing not later than 5 business days after the reinsertion or, if authorized by the consumer for that purpose, by any other means available to the agency.
- As part of, or in addition to, the notice under clause (ii), a consumer reporting agency shall provide to a consumer in writing not later than 5 business days after the date of the reinsertion. Written information about disputed information reinsertation shall include:
- a statement that the disputed information has been reinserted;
- the business name and address of any furnisher of information contacted and the telephone number of such furnisher, if reasonably available, or of any furnisher of information that contacted the consumer reporting agency, in connection with the reinsertion of such information; and
- a notice that the consumer has the right to add a statement to the consumer's file disputing the accuracy or completeness of the disputed information.