At Panola Financial, Inc, we are committed to ensuring that consumer and business credit information is accurate, fair, and up to date. This Credit Dispute Policy outlines the procedures to dispute inaccuracies in their credit reports and provides a clear process for resolution. Our goal is to investigate disputes promptly and resolve them in compliance with applicable consumer protection laws.
This policy applies to all consumers who wish to dispute errors or discrepancies in their credit reports that have been provided by Panola Financial, Inc to credit reporting agencies or used in credit-related decisions. It covers inaccuracies related to personal information, account details, payment history, credit limits, account statuses, and other credit-related data.
Consumers who believe there is an error in their credit report may file a dispute by contacting us through one of the following methods:
• Online: www.PanolaFinancial.com
• Email: [email protected]
• Mail: 8701 New Trails, Dr Suite 120, The Woodlands, TX 77381
• Phone: 346-268-7025
To facilitate the review process, consumers should provide:
• Their full name, contact information, and account details.
• A detailed description of the disputed item(s).
• Supporting documents, such as account statements, payment records, or correspondence with lenders.
• A statement outlining the correction being requested.
Once a dispute is received, we will acknowledge receipt within 2 business days. Our team will conduct an investigation by reviewing the information provided by the consumer, verifying data with relevant financial institutions, and consulting credit reporting agencies if necessary. This process typically takes up to 5 business days but may be extended if additional information is required.
If the investigation confirms an error, we will take appropriate corrective actions, such as updating our records, notifying credit bureaus, and informing the consumer of the resolution. If no error is found, we will provide the consumer with a detailed explanation of our findings.
If a consumer is not satisfied with the outcome of the investigation, they may request mediation. Mediation is an informal process facilitated by a neutral third party to help resolve disputes in a fair and mutually agreeable manner. Should mediation not result in a resolution, consumers may escalate their concerns to the appropriate regulatory authorities, such as the Consumer Financial Protection Bureau (CFPB) or state financial regulators.
In cases where disputes cannot be resolved through mediation or internal review, arbitration may be an option. Arbitration is a legally binding process in which an independent arbitrator reviews the dispute and issues a final decision. If arbitration is elected, both parties must agree to abide by the arbitrator’s ruling.
All information related to credit disputes will be treated with the utmost confidentiality. We will not disclose consumer information to third parties except as required by law, as necessary to resolve the dispute, or with the consumer’s explicit consent.
| Stage | Timeframe |
|---|---|
| Acknowledgment of dispute | Within 2 business days |
| Investigation completion | Within 5 business days |
| Consumer notification of findings | Within 5 business days of resolution |
| Mediation (if requested) | As scheduled with the mediator |
| Arbitration (if applicable) | As determined by the arbitrator |
Consumers who disagree with the resolution of their dispute may submit an appeal within 5 days of receiving the final decision. Appeals must be in writing and include any additional evidence or justification for reconsideration. An internal review panel will reassess the dispute, and the final decision will be communicated within 45 business days.
This policy complies with all applicable consumer credit laws, including the Fair Credit Reporting Act (FCRA) and any relevant state regulations. Consumers have the right to file complaints with regulatory agencies if they believe their dispute has not been handled in accordance with legal standards.