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623 method, when to send 2nd letter

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Hey everyone, I mailed my 623 letters out on Nov 7th, the creditors all received them on the 10th, do i wait 30 days from the day I mailed, or 30 days from the day they recieved the letter?

 

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If the furnisher of information does not respond within the 30-day time-frame, the negative item must be removed from your credit report. However, before you dispute with the furnisher of information you must first dispute the negative item with the credit bureaus

.

Disputing directly with the furnisher of information requires an investigation be conducted, not a verification. When disputing with credit bureaus the furnisher of information is only required to verify whether the dispute is accurate. An actual investigation is typically never done, although required.

 

Have you disputed with the CRA's ?

Edited by Vettecor

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If the furnisher of information does not respond within the 30-day time-frame, the negative item must be removed from your credit report. However, before you dispute with the furnisher of information you must first dispute the negative item with the credit bureaus

.

Disputing directly with the furnisher of information requires an investigation be conducted, not a verification. When disputing with credit bureaus the furnisher of information is only required to verify whether the dispute is accurate. An actual investigation is typically never done, although required.

 

Have you disputed with the CRA's ?

Yeah, I disputed with the CRAs, and then sent the letters. So if I dont receive a response by December 7th then I can ask for them to remove it since they are in violation. Or do I give them 30 days from the day they received the letter?

 

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Once the CA receives your dispute letter they have 30 days to investigate.

 

Another scenario in regards to collections is if you ordered your credit report from annualcreditreport.com and you are disputing something on that report they have 45 days to investigate.

 

Good luck I hope you get your deletions.

Edited by Vettecor

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What are you disputing, and did you include any documentation with your 623 letters? When you dispute, you are always looking for errors, legal violations or anything that you can use as legal leverage.

Edited by tmcgill

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If you don't receive anything back by the 35th day from when they received it, then it's time for a CFPB complaint. Just curious, are you battling an OC or a debt collector?

 

What's your follow-up plan?

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If you don't receive anything back by the 35th day from when they received it, then it's time for a CFPB complaint. Just curious, are you battling an OC or a debt collector?

 

What's your follow-up plan?

Hey...

 

Where you been?

 

Oh.. did you close yet (investment property)?

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You likely won't get a response as they aren't legally required to give you one. But CFPB and hopefully they will get tired of dealing with it.

OC's are legally required to respond (30 days for investigation respsonse or 5 days for frivolous dispute response).

 

623 dispute investigations force the OC to investigate specific information for an account that was previously verified to the CRA's and determine if there is enough information provided by the consumer to either correct the information or reject it as frivolous/irrelavent.

 

The consumer has no right of private action against the OC if they don't respond but.....

 

Not repsonding is the reason for the CFPB complaint.

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That provision was not designed for the consumer but for regulatory entities. They won't reply to the consumer - they could if they wish but are not in violation if they don't.

 

Any lawyer worth their salt will likely chuckle and explain to you how it works.

 

Not saying a 623 won't ever help, but this is not a violation and expectations should be little to nothing.

 

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Disputing with creditors is a legal process. As such, building a paper trail of your actions and their responses is necessary. The mindset should be the issue may wind up in front of a judge or a legal regulator, if steps in the process are unsuccessful.

 

It is a chess game where you are trying to document or prove errors, negligence, violations or noncompliance. The 623 is one of the steps in the process. You are showing that you've notified an Original Creditor (OC) of an error or issue they need to investigate and resolve, after your CRA dispute was unsuccessful.

 

There is no right of private action by the debtor; you cannot sue if they do not respond. Legal oversight is by their regulator (CFPB). If they don't respond, the next step is a CFPB complaint. With the unanswered 623 letter, you have proof you notified them of a problem and requested a reinvestigation, but they didn't respond or correct anything.

 

I've gotten re-aged collection accounts removed with the 623 letter. I think the wording is critical. Also, I was able to provide monthly statements. With the letter, you are clearly pointing out their error - and letting them know you will pursue appropriate legal action if they don't resolve.

Edited by tmcgill

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P.S. - The 623 challenge has another side.

 

I was disputing information in Equifax's Work Number. I sent a certified 623 to the OC, and they responded, sending back several documents supporting their reporting. Employment documents I had forgotten I had signed giving them the right to report my salary and related job info.

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From a legal standpoint, showing the proof of an unanswered 623 letter will get you as equally far as not showing the proof of an unanswered 623 letter.

 

Beating a dead horse again... But yeah, firing one off may help you. But to expect or demand it is foolish, and to go nutcase over it will make you look like one.

 

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There are always variables in challenging debt. There are never any guarantees. You just fight using the legal tools available.

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