This form is to be used when a collection company is demanding full payment from you and you disagree with the balance. Use this form as your first letter of dispute.
Section 604 dispute letter with credit report is a formal communication sent to credit reporting agencies to address inaccuracies or discrepancies found on one's credit report. This type of letter is specifically governed by Section 604 of the Fair Credit Reporting Act (FCRA), which outlines the procedures and guidelines for disputing errors on credit reports. The purpose of the Section 604 dispute letter is to inform the credit reporting agencies about any incorrect information displayed on the credit report and to request an investigation into the disputed items. This letter acts as a means for individuals to exercise their rights to accurate credit reporting as mandated by the FCRA. When composing a Section 604 dispute letter with a credit report, it is crucial to include certain key elements. These include: 1. Personal Information: Start the letter by providing your full name, current address, social security number, and date of birth. This information ensures that your dispute is linked to the correct credit report. 2. Identification of Inaccurate Information: Clearly identify the specific items on your credit report that you believe to be incorrect, inaccurate, or outdated. It is essential to be as precise as possible to assist the credit reporting agencies in investigating your claim. 3. Explanation of the Dispute: Clearly and concisely explain the reason for disputing each item. Provide any supporting evidence or documentation that reinforces your argument. This may include payment receipts, correspondence, or legal documents that bolster your claim. 4. Request for Investigation: Clearly state that you are requesting an investigation into the disputed items and ask for their removal or correction from your credit report if found to be inaccurate. 5. Timeline: Specify a reasonable timeline within which you expect the credit reporting agencies to complete their investigation. Typically, this is within 30 days as per the FCRA guidelines. There are several types of Section 604 dispute letters depending on the nature of the dispute: 1. Identity Theft Dispute Letter: This is used when fraudulent accounts or unauthorized activities are listed on the credit report due to identity theft or fraud. 2. Incorrect Account Information Dispute Letter: This type of letter is used when there are discrepancies in account balances, payment history, or account statuses reported on the credit report. 3. Outdated Information Dispute Letter: This is used to address outdated information such as closed accounts that are still listed as open or negative entries that have surpassed the allowed reporting time. 4. Mixed File Dispute Letter: When a credit report contains information belonging to another individual, this type of letter is used to rectify the mixed file situation. Submitting a Section 604 dispute letter with a credit report is an important step in ensuring the accuracy and integrity of one's credit history. By following the guidelines outlined by the FCRA, individuals can take control of their credit reports and resolve any errors or disputes promptly.
