We have a consumer that applied for a business loan in March of 2013, we pulled credit and the application was denied. Retention for Business adverse actions is 12 months, therefore we do not have the documentation anymore.

We received a letter from this consumer disputing the credit inquiry, stating they do not recall authorizing the inquiry and want the bank to remove the inquiry from their credit report.

What are the requirements in responding to this dispute? Is this considered a direct dispute?

We contacted Equifax and asked what the procedures are to remove an inquiry, but we want to make sure what is required by law prior to responding.

Bump