02-04-2010 06:59 AM
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!
02-04-2010 07:13 AM
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.
02-04-2010 08:12 AM
02-04-2010 06:59 PM - edited 02-04-2010 08:45 PM
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.
02-04-2010 07:49 PM
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.
02-05-2010 08:43 AM
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:
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.
02-05-2010 09:06 AM
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
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.