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Your debt settlement proposal letter must be formal and clearly state your intentions, as well as what you expect from your creditors. You should also include all the key information your creditor will need to locate your account on their system, which includes: Your full name used on the account. Your full address.
There are various types of credit dispute letters ? General, 609, 611, and 623, each addressing unique credit report discrepancies under distinct Fair Credit Reporting Act sections.
But they have different purposes, and only Section 609 will support a dispute letter. Under the FCRA, Section 604 defines the circumstances under which a consumer reporting agency may furnish a consumer report. This section is titled ?Permissible purposes of consumer reports.?
Under Section 611, a credit reporting agency is not required to provide consumers with the verification method or send them any written result of the dispute if it is sent electronically. A 611 credit disputing letter is sent after a credit agency confirms that the information mentioned in the letter has been verified.
Your letter should clearly identify each item in your report you dispute, state the facts, explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your credit report with the items in question circled.
In general, you should send a 609 letter to the three main credit reporting agencies. Those agencies must then investigate alleged errors and make corrections as necessary. Send 609 letters via certified mail so you can track them and ensure they are responded to on time.
A 609 letter is a credit repair method that requests credit bureaus to remove erroneous negative entries from your credit report. It's named after section 609 of the Fair Credit Reporting Act (FCRA), a federal law that protects consumers from unfair credit and collection practices.
If you write a letter, instead of using the tear-off form, the debt dispute letter should include your personal identifying information; verification of the amount of debt owed; the name of the creditor for the debt; and a request the debt not be reported to credit reporting agencies until the matter is resolved or ...