P.R. Laws tit. 7, § 2035
Responsibility of credit reporting agencies to eliminate incomplete, incorrect, inaccurate or non-verifiable information.
(a) Credit reporting agencies shall investigate disputes raised by consumers where it is challenged that any information contained in the credit report is incorrect, incomplete or inaccurate. The plaintiff shall send written notice and show that the defendant party received a copy of the information request. The investigation shall be performed within thirty (30) days after the agency receives the consumer’s notice of complaint. The thirty (30) day period may be extended for not more than fifteen (15) additional days if the credit reporting agency receives additional information that is relevant to the investigation.
(b) Credit reporting agencies shall have five (5) days after the date when they reach the determination (whichever it may be), or from receiving the notice of determination made by an information provider, to notify the consumer of the determination, and in case it is favorable to the consumer, to eliminate the information determined as incomplete, incorrect, inaccurate or non-verifiable from the record.
(c) In such cases in which the determination is favorable to the consumer, and the incomplete, incorrect, inaccurate or non-verifiable information has not been eliminated or corrected within the term of fifteen (15) days, a fine shall be imposed on the credit reporting agency for noncompliance, for each month that the consumer is affected by the failure of the credit reporting agency to eliminate or correct the incorrect information.
History —Sept. 2, 2000, No. 364, § 7; June 8, 2010, No. 57, § 2.