Chris PrefontaineSerious about making money in the real estate investment business? Free Webinar - REGISTER BELOW!, Smart Real Estate Coach · Chairman, Founder, 4x Best-Selling Author of "Real Estate On Your Terms," Forbes Business Council Member, 3x Inc 5000 Honoree, Global Rank TOP 0.5% Podcast Host

How Credit Bureaus Handle Disputes Since 2019! #shorts

14 Jan 2025 · 1 min

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0:45

In this YouTube short, the speaker explains that credit bureaus have become significantly slower at handling credit‑repair disputes since 2019. Previously they were required to respond within about 45 days, but new legislation (in part a response to the COVID‑19 era) now allows up to 90 days for a response. As a result, consumers like Chris and Nick are not seeing the initial dispute results until roughly three months after filing, leading to unrealistic expectations for quick fixes.

Chapters

What's changed since 2019? 2019, the year of COVID Much changed in the world as we know it. But in this industry, there's many things. And probably the most prominent out of them is how the credit bureaus handle disputes in terms of credit repair, how they handle disputes. They are slow, slow, slow. So they used to be like, had to respond within 45 days. Now there's a lot of legislation that basically They can respond 90 days. So, Chris, you're not seeing those first results, Nick, until 90 days in. They're not seeing those results. So people have this expectation that things are going to happen quickly and they don't.