OVERVIEW OF DIRECT DISPUTES
As part of our everyday business purposes, LoanNow reports information to credit reporting agencies (“CRAs”). By law, LoanNow is required to report accurate information to CRAs. You can submit a direct dispute to have LoanNow investigate suspected identity theft or fraud, the terms of a credit account or debt, principal balance, scheduled payment amount, payment history, amount and dates of payments made, the date an account was open or closed, or other information in the credit report. We can only change information that is directly related to a specific account that is being reported by LoanNow. If the disputed account is not a LoanNow account, please contact the CRA or that particular creditor directly.
ACCURATE INFORMATION CANNOT BE CHANGED OR REMOVED
If LoanNow determines that the information on our credit report is accurate, then the information cannot be changed or removed. We will notify you by mail and/or email whether information is changed or not.
A COMPLETED CONSUMER DISPUTE FORM IS REQUIRED
If we do not receive a completed Consumer Report Direct Dispute Form from you, we will be unable to investigate your dispute. A completed form requires the following information: your full name, address, social security number, account number, description of the disputed item, any supporting documentation and a signature and date. Supporting documentation should include the page from your consumer credit report that shows the dispute item. If you are disputing information based on a claim of fraud or identity theft, supporting documentation, additionally, includes a copy of a valid police report, state approved identity theft form, or Affidavit of Fraud. If any of this information is missing from the Consumer Report Direct Dispute form or supporting documentation, the dispute will be considered incomplete and you will be contacted within five (5) days of LoanNow’s receipt of your form to provide the missing information.
THE CONSUMER REPORT DIRECT DISPUTE FORM
Fill out the Consumer Report Direct Dispute form completely. Keep a photocopy of this form and all supporting documentation you submit with the form for your records. Please submit a separate form for each LoanNow account you are disputing. Mail the completed form and all supporting documentation to:
Attn: Direct Dispute
3100 S. Harbor Blvd., Ste. 180
Santa Ana, CA 92704
WHEN WILL INACCURATE INFORMATION IN MY CREDIT REPORT BE CHANGED?
If it is determined that the dispute is valid and the information reported is indeed inaccurate, we will electronically update the two (2) CRAs that LoanNow reports to within thirty (30) days of receiving your Consumer Dispute form. However, because of the nature of credit reporting and LoanNow’s reporting cycle, the corrected information may not appear on your credit report for up to two (2) months.