Sonnet supports indirect dispute investigations initiated by credit reporting agencies (CRAs) as automated credit dispute verifications (ACDVs) via e-OSCAR. The platform automatically receives data from both e-OSCAR and your systems of record and displays information on a single screen for easier review. Upon completing the investigation, Sonnet automates the return of dispute outcomes to e-OSCAR and the systems of record.
Sonnet helps first and third party data furnishers meet Consumer Financial Protection Bureau (CFPB) regulations for demonstrating a “reasonable investigation” and responding to each dispute within 30 days. The system includes response time monitoring and requires dispute images to be viewed before an investigation can be completed. Sonnet also uses the Metro 2Ⓡ reporting format, so data furnishers can maintain compliance with the Fair Credit Reporting Act (FCRA).
- Customizable rules based on your policies and procedures
- Email notifications for pending deadlines
- Image viewing requirement
- Seven-year history log of disputes
- Enhanced reporting/trending analytics for data accuracy, dispute codes, responses codes, creditors, and consumers