What the Credit Counselors and Credit Repair Companies are NOT Telling You.
Lately I’ve seen a lot of videos out there talking about this 609 dispute letter baloney. It’s just that guys, baloney. It is some shyster salesman using a lot of big words you don’t understand to try to get you to buy his product which is inevitably some sort of credit repair organization trying to sell you scripts and letters and templates. Today I’m here to do try to dispel the myth and separate the truth from the lies.
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What is a 609 Dispute Letter
If you’ve spent any amount of time on the internet looking for credit improvement tips or tricks, you’ve likely landed on one of the many articles dedicated to the so-called 609 Dispute Letter. A 609 Dispute Letter is often billed as a credit repair secret or legal loophole that forces the credit reporting agencies to remove certain negative information from your credit reports. And if you’re willing, you can spend big bucks on templates for these magical dispute letters. Unfortunately, you’d be wasting your money on letter templates because there’s no evidence suggesting they are any more effective than other credit reporting dispute letter templates. In other words They are TOTAL BULL!
What is Section 609?
Section 609 refers to a section of the Fair Credit Reporting Act (FCRA) that addresses your rights to request copies of your own credit reports and associated information that appears on your credit reports. Section 609, oddly enough, doesn’t have anything to do with your right to dispute information on your credit reports or a credit reporting agency’s obligations to perform investigations into your disputes. There is no such “609 Dispute Letter” anywhere to be found in the FCRA. The FCRA does, in fact, include a considerable amount of language memorializing your rights to dispute the information found in your credit reports. But it’s in section 611 of the statute, rather than in section 609. Thanks to section 611, we all enjoy the right to dispute information we believe to be incorrect or unverifiable. And if the disputed information cannot be verified or confirmed, then it must be removed.
Does a 609 Letter Even Work?
If you’re looking for dispute letter templates, there’s likely a reason. Normally consumers send dispute letters to Experian, TransUnion and Equifax because they believe something on their credit report is incorrect. This can happen if they’ve applied for a loan or a credit card and the lender has informed them that they were denied because of some information on their credit report. It can also happen when they check their credit report and find accounts they don’t recognize. The practical impact of a dispute letter is it causes the credit reporting agency to investigate and correct any alleged error. Here is where the theory is flawed. The 609 Dispute Letter theory is if you ask the credit bureaus for information they clearly cannot produce as part of your dispute letter, like the original signed copies of your credit applications or the cashed checks used for bill payment, then they would have to remove the disputed item because it’s unverifiable. The CRAs don’t have that info and they have NEVER had that info. Only the Lender is going to have information like that. Thing is, FCRA entitles us ONLY to all of the information the credit reporting agencies have in their systems—not information they do not have in their systems. While there is plenty of information online about 609 Dispute Letters, there is no evidence suggesting any specific letter template is more effective than another. And frankly, you could submit your credit report dispute on the back of a beverage napkin and if it’s valid, then the information must be corrected or removed. The method of delivery is largely irrelevant when it comes to your rights for an accurate credit report. In other words the bottom line is this the style of letter makes absolutely no difference. Conversely, if the information on your credit reports is accurate and verifiable, then chances are it’s going to remain on your credit reports. The style of your letter doesn’t change that fact.
Learn to CORRECTLY Dispute Errors
There are better ways to dispute your credit reports than buying dispute letter templates, and the process is actually very easy. You can learn every bit of this in my credit repair course. I’ll give you the link to that on the next slide.. First, get copies of your credit reports so you can review them for errors. You have the right to a free copy of your credit reports once every 12 months. I only recommend AnnualCreditReport.com. You can also get a free credit report from Experian every 30 days. If you determine there is information appearing on your credit report or reports that is legitimately incorrect or that you believe can no longer be verified by the source of the information, the law protects you. In those cases, you should file a formal dispute. Again I can teach you how to do that in my credit repair course. Do it yourself and save yourself big bucks from these credit counselors trying to schmooze you out of your hard earned dollars. The dispute and investigation process cannot take more than 30 to 45 days, and most investigations are completed within a few weeks. That’s not to say is going to come off your credit report right away, it may take more than one letter to the credit bureau. Again there are some tricks of the trade that I can show you in my credit repair course, however, if the information is wrong it’s ultimately going to come off, it just may take you a bit of time. Once the credit reporting agency has completed the investigation process, it is required to provide you with written results within five business days.
To Access the Course Material:
Click HERE for the Ultimate Credit Repair Course! >
To Access the Free Webinar:
Click HERE to Watch the FREE Webinar! >
To Access the FREE LIST:
