623 letter

[memarybe]

is there an example of a 623 letter i can use ? i have used the searched feature and i cannot seem to locate any ......

thanks !!!!

[gdtobefree]

http://creditboards.com/forums/index.php?showtopic=6086

See post #9

LOL if that doesn't make your head spin nothing will

 

I have been here for 3 years and STILL can't grasp this one LOL

[Menta33]

http://creditboards.com/forums/index.php?showtopic=6086

See post #9

LOL if that doesn't make your head spin nothing will

 

I have been here for 3 years and STILL can't grasp this one LOL

 

A 623 dispute is based upon the FCRA section 623(a)(8) ABILITY OF CONSUMER TO DISPUTE INFORMATION DIRECTLY WITH FURNISHER. You must first dispute the tradeline with each of the CRAs in order to have recourse with the OC if they fail to comply due to § 623. (subsection c) LIMITATION ON LIABILITY.

 

The new thing here is that effective July 1, 2010, a new FTC rules and regulations requires the OC to answer per the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).

 

In your dispute letter to the OC, you should say you disputed with the CRA and it came back verified (assuming it did) and that you want them to conduct 'an investigation' (important phrasing here, your are not asking for verification, but investigation, per the law).

 

They have 30 days to respond, send your request by CMRRR.

 

If they fail to respond, you have a $1,000 violation of the FCRA (assuming you disputed with CRA first), send ITS letter offering to settle for deletion.

 

If they respond and say verified, write again and ask for proof, if they have verified something you know is inaccurate, send ITS with proof that it is inaccurate, include CRA copy and your proof that it can't be true.

Edited October 3, 2010 by Menta33

[jaysuvius]

Ooooh nice thrad link!! Sassy put some great samples in there.