Can anyone give me a link for a letter to send to an orignal creditor. They are posting a balance for a debt on my credit report. I want them to verify the balance(I dont feel I owe them the full balance). The balance is a old bank loan. Ive been disputing through the bureaus about the bank balance and 2 of the 3 bureaus have deleted it from my credit. Another one I would like see deleted is a finance company I paid off. My credit report shows the debt was paid but still would like to get it deleted. Niether have sent debt to a collection agency. If not a letter maybe some advice on getting these off my report.
Date Bank Name Address Account # xxxxxxxxx Dear Sir/Madame, Pursuant to my rights under the Fair Credit Billing Act, please provide documentation regarding every transaction ever associated with this account. Also in accordance with my Federal rights stipulated by the Fair Credit Billing Act, you are obligated to comply with this lawful request for elaborated documentation for billing, including charges and interest, as well as a full accounting of where each bill was mailed, for the life of the account, or rescind these reports from every consumer reporting agency to which you have reported same. The FCBA also stipulates that you provide lawfully requested information concerning my account upon request in a timely manner. For that reason, forward a notarized statement on your letterhead which will attest to your compliance to the FCBA generally and to my account specifically throughout the period I have been a customer. Otherwise, delete the negative marks you have reported to the three consumer reporting agencies within the timely manner prescribed by law. Your prompt attention will be appreciated. Sincerely, Your name ------------------------------------------------------------------ Now don't use that word for word, its just a template, you can paraphrase and and adjust it to your situation. I recommend actually reading over the FCBA so you are familiar with it. As for the account with the finance company, we need more information on about the account what how its listed and whats listed wrong. Do alot of reading here on the boards...more than likely you can find the answer yourself.
Did it ever go to collections was it ever late.If its in good standing you should leave it alone,it's not hurting your credit history.
The FCBA doesn't give you the right to every document associated with the account. The FCBA allows you to dispute specific charges within 60 days, in writing. The type of documentation you're requesting is something you would request in discovery once a suit is filed. And you probably wouldn't get it all then, either.
I'm curious as to whether this letter has ever gotten positive (i.e. the desired) results. To me, it looks like an invitation for more problems than solutions. YMMV, but this wouldn't my first choice...
I would think if they turn it over to legal you'l get a summons.Sometimes they don't show it as collection if it's a bank they have their own recovery department.
Ask them for verification of the balance pursuant to the FACTA amendments to the FCRA. They don't have to provide anything mind you insofar as the law here has no teeth. Still, it may compel them to mark it as being in dispute. Is it marked as such now?
I've used the letter posted above and recieved mixed results. I figured it was a shot in the dark and got 3 responses that said they weren't gonna do squat and 1 derogatory TL removed.
The bank is small town credit union that say I still owe them. Ive disputed the debt with the credit bureaus, Trans and Equifax have deleted it. Experian shows CO every month since the problem started (about 2 years) The other is a in town finance company you know the ones that will only give you a couple hundered bucks and have high intrest fees. I paid this one off and then diputed it with the credit bureaus. Trans Union deleted it but not the other 2. They have CO showing since this loan went bad in 2004
