Section 609 FCRA

[babyeyes00]

Hello,

 I have a question in regards to credit restoration.  I have been researching the FCRA section 609.  There is a company that is charging $599 to remove items using the reporting law of FCRA section 609.  I dont want to pay that amount for some letters that I know that can be done by myself.  Does anyone have any sample letters that I can use?  Does anyone know what wording is used in their letters to get these items removed?  I need help.  Thanks!

[newstart2010]

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=6834

this link will get you to all of the info you need.  Read everything, and start with Debt Verification letters.  Then Pay For Deletion letters.

Do not use debt repair companies.  99.9% of them are scams, and they will only do what you can do in a very short time.  

[babyeyes00]

Thank you for the quick response.  Ive been studying credit repair for 2 years and Im really trying to get the bottom of things.  Thanks again.

[Anonymous]

Your at the right place, myfico is the best, a wealth of knowledge here.

[babyeyes00]

YES, I do agree that Myfico is wonderful!!!!!!  I have read the forums and Im still looking for a letter that is aggressive and successful with stating the FCRA Section 609 and will result in a deletion from the credit report.  Does anyone have a letter that can do this?  Has anyone had any luck with this?  All help is appreciated.  Thanks again!

[MarineVietVet]

Hello and welcome to the forums.

What is it exactly you're trying to accomplish?

[RobertEG]

I am also a bit confused by your post.

FCRA 609 relates to consumer requests for information in their credit file, usually requiring the fee set forth in FCRA 612(f).

FCRA 609 is not directed to credit reporting by the creditor.  I dont see the connection.  FCRA 609 does not appear to be relevant to repoting by a creditor, or disputiing by a consumer.  It is directed to factual investigation of your credit file.

What are you trying to do? 

Removal of items from your credit report fall into three catgories. 

1. the reporting was inaccurate, and thus a dispute under FCRA 611(a).

2. request that the creditor volunarily delete prior reporting in exchange for instant money in their pocket.  A PFD offer.

3. expiration of the fall off dates set forth in FCRA 605(a), which in broad- brush are 7 years from a montly account delinwuency with the OC, or 7 1/2 years from the DOFD on the OC account for any charge off or collection reporting.

If a credit repair service is offering you removal based on FCRA 609, then I would question the relevancy of this statute as it relates to any deletion of prior credit reporting.

Message Edited by RobertEG on 02-04-2010 07:37 PM

Message Edited by RobertEG on 02-04-2010 08:45 PM

[RobertEG]

First, tell us the specific derog for which you seek removal.

Include the DOFD on the OC account, and the date and type of derog being reported.

Then specific letters can be suggested.

Yes, you can do it yourself. 

The fact that a credti repair agency is throwing FCRA 609 at you kinda sends off bells in my head.

[babyeyes00]

I was looking at a website and this is what it states:

With the Section 609 Credit Restoration System, it doesn't matter whether the negative is valid or not. The Section609 system works equally well on all negatives because it disputes the credit reporting agencies' right to report the negative, not whether it is valid. Since none of the 3 major credit bureaus (Equifax, Experian and Transunion) are in compliance with Section 609 of the Fair Credit Reporting Act (FCRA), they must remove all the negatives from your report - ALL OF THEM!

Every other "credit repair" company out there uses the dispute process allowed under FCRA to attempt to repair your credit.

There are four major problems with this approach to credit repair:

1. Accurate information is easily verified by credit reporting agencies.
2. You are perjuring yourself by initiating the investigation and swearing the items are not yours.
3. Even if a negative item were to come off one of your reports, it will most likely remain on the other two.
4. You can do this yourself for free.

By disputing the accuracy of items on your credit report you are essentially playing the slots - you are hoping that all three credit bureaus are unable to complete their investigation within the time allowed.

I was just curious about this.  I wanted to know if anyone has used this tactic that this so called "credit restoration" company uses.

[newstart2010]

That is a scam.  Don't get in bed with those people.  That does not work and it is totally bogus. Its all basically the same thing.  They focus on verification which is something you are doing, but in order to get that verification they do exactly what they say they will not do....dispute everything on your credit file and see what gets verified and what doesn't.  This is a waste of time and money, and will get you black listed with the credit bureaus.  Not a smart move, really.

It DOES matter if your debt is valid or invalid, and whichever it is determines the proper LEGAL and perm way of dealing with a debt.  Throw this whole concept out, which is nothing more than marketing.

Can I just point out that they list as one of the problems with real credit repair the correct way (and not their bogus way) that you can do it yourself for free.  lol  i was unaware that was such a problem.  hehehehe